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Freecharge Wallet balance jumps 12x with demonetization of Rs.500, 1000 notes
November 10, 2016
Freecharge reported a sharp 12X overnight jump in the average wallet
balance as consumers loaded up their wallets to face a cashless day
across the country.
Freecharge wallets are used extensively by
users to conveniently pay for utilities like cab rides, metro, phone
recharges, electricity, gas, petrol, DTH and lots more.
Since
Freecharge is also used at over 100,000 online and offline merchants
like Snapdeal, Bookmyshow, Swiggy, Zomato, Shoppers Stop, McDonald's,
Cafe Coffee Day and others, Freecharge user can continue their daily
transactions without any cash related interruption.
"The
announcement made by the Prime Minister yesterday is the biggest boost
to creating a cashless India. We are thrilled that crore of Freecharge
customers will be able to continue paying conveniently and securely for
all their utilities and at leading merchants in India. The 12x surge we
have witnessed is unprecedented and clearly driven by this big
announcement," said CEO Freecharge, Govind Rajan
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