Online marketplace Snapdeal on Wednesday announced that it has acquired FreeCharge, an online recharge company. FreeCharge focuses entirely on recharges - you can only use it to recharge your mobile phone, datacard, or DTH service - and offers customers discount coupons for using the service.
Mobile recharges are a fast growing business in India - in November, Paytm revealed that it was poised to reach $1 billion (approximately Rs. 6,227 crores) in transactions by March 2015, and at that point, 80 percent of its business was coming from mobile recharges - and several companies including RechargeItNow, MobiKwik, and of course Paytm and Freecharge are all operating in this category. According to Snapdeal, 3 million mobile recharges are done online in India, out of a total 75 million recharges that take place every day.
MobiKwik has also announced a fresh series of funding, and an investment of close to $25 million (approximately Rs. 155 crores) from investors including American Express and Sequoia Capital. Unlike FreeCharge, MobiKwik also has a brick and mortar retail network. It claims to have over 100,000 merchants tied up with it, and has also applied to the RBI for a Payments Bank licence.
We provide all types of Web and Windows Services.
Please check out link: www.rmpinfotech.in and write us on info@rmpinfotech.in
Please check out link: www.rmpinfotech.in and write us on info@rmpinfotech.in
No comments:
Post a Comment