While Paytm is making sure it gets the most from the rising demand for e-payment services in the country, Freecharge has also jumped into the game to acquire a piece of the pie. After announcing the Wallet on Delivery service, it has now announced that it will not charge any commission or setup fee to merchants.
From today onwards, the merchants who are signing up to accept payments through FreeCharge will not be charged any commission. This means that 100% of the payments made by users will be credited to the seller’s account.
This can be counted as important and recurring saving for the merchants as credit card companies normally deduct 2-4% for each payment made through them. The zero fee offer is a special limited term offer for all new merchants who sign up with FreeCharge.
Further, FreeCharge has also rolled out a faster, instant sign-up for merchants, which can be completed within 5 minutes. After signing-up, merchants will be able to immediately start accepting digital payments by using their smartphones. Also, there is no requirement of a separate machine to enable transactions using Freecharge. While in the case of debit and credit cards, separate machines need to be installed.
The company has also announced that the merchants who want to join, can leave a missed call on 022 39966223 and FreeCharge will call back to set up the account for that merchant.
Cash on delivery is one of the more prominent payment options, accounting for 60 percent online transactions in the country, it recently launched Wallet on Delivery service. Freecharge parent Snapdeal’s new wallet-on-delivery service not only supports the growing ecosystem of cashless transactions but also enables them to recover losses and gain consumer trust in the process.
Ever since the announcement of the scrapping of the 500 and 1,000 rupee notes, digital wallet services have seen a significant jump in transactions and downloads. With 0% Commission, 5 Minute merchant sign ups, and 10-second user payments, FreeCharge is aiming to change the digital payments landscape across the country. However, it is not alone and competes against Paytm.