GTaking a step towards reaching out to millennials, Freecharge – one of the leading digital platforms for financial services, today announced the launch of its first Digital Credit Card, powered by Axis Bank, India’s third-largest private sector bank. The card empowers these digital natives with easy access to credit, which comes with an instant and seamless experience, while also being flexible and secure. The Digital Credit card is especially designed for the aspirational youth, the go-getters, who are often at the beginning of their careers. This card gives them easy and instant access to cash while on-the-go and would help them make the most of their resources.
Commenting on the launch, Mr. Siddharth Mehta, CEO, Freecharge
said, “The fintech space is evolving every day and we want to be
at the forefront of it. We will keep coming up with products and
solutions that befits the need of the new age customer, based on
their interests and affinities. Our entry into this space is driven
by the quintessential requirement of easy availability of credit
that allows the aspirational millennial to take spontaneous and
independent decisions. With Axis Bank’s support, we are confident
of reaching out a large customer base, with best-in-class services.”
Freecharge’s Digital Credit Card comes with 50 days’ of credit period
and is accepted across ecommerce platforms with exclusive access to
deals across categories. The online transactions can also be converted to EMI as per their convenience. Initially, the card will be rolled-out to a select group of customers and then subsequently opened to a larger base.
Adding to the launch, Mr. Sanjeev Moghe, EVP and Head of Cards & Payment of Axis Bank said, “We are delighted to introduce digital credit for the millennials and early jobbers. With this card, we plan to further tap the aspiring youth, who seek only the best deals. Freecharge, given their close association with the digitally savvy youth, has designed a product that is smart, fast and convenient – just apt for this segment. We are positive that this targeted product will contribute substantially to the Bank’s credit card portfolio.”
With an easy-to-use interface, customers can get their Digital Credit Cards by just entering their details on the Freecharge app, which will enable a Visa Credit Card instantly on their mobile phones. Thereafter, they can instantly start making online purchases on any ecommerce platform and also repay credit card bills.
Headquartered in Gurugram, Haryana, Freecharge is India’s leading digital platform for financial services and products. Freecharge services are available across a range of financial instruments including savings, payments, insurance, investment and lending. The company’s focus is to create an ecosystem of innovative products and features that enables seamless cashless transactions. Freecharge consumers can seamlessly pay utility bills (Electricity, Gas), pay Landline bills or recharge Mobile, Broadband, DTH and Metro cards. In addition,Freecharge powered by Axis Bank enables the users to make Google Play recharges, invest in mutual funds and get easy credit through Freecharge EMI. Freecharge UPI and payment gateway allows consumers to instantly send or receive money, shop at leading offline and online merchants across categories movies, entertainment, food, shopping, travel to get cashback & discounts.