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Freecharge wants to be a payment processor in over 100K taxis by year end

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More catching up from Freecharge. Remember those ‘Paytm karo’ ads wherein you pay cabbies with paytm ? Well, Freecharge wants to be in those cabs too and 100K to be precise.

Over the past two months, it has already managed to bring over 15000 taxi drivers in Delhi, Mumbai and Bangalore on its platform. These drivers are using Freecharge to accept cashless payments using their phone in an easy and secure manner.

Commenting on these initiatives, Sudeep Tandon, chief business officer at Freecharge said,

Today’s consumers demand convenience and we are targeting sectors both in online and offline space which will influence the daily payment habit and shift them from cash to digital payments. We have dedicated teams in these three cities who are focused on providing training and helping drivers to register on Freecharge as a merchant.

Freecharge, known for its fast and superior mobile recharge interface, is bringing the same level of experience to these payments. It claims to enable customers to pay for taxi rides in 10 seconds by simply scanning a QR code unique to individual taxi drivers.

They can complete the transaction in just one tap and drivers get the payment in their wallet. Drivers can then use it for mobile recharge, online shopping, sending money to friends or family, etc. They can even transfer the amount to their bank accounts.

This simple cashless payment mode will also reduce the hassle of exact change which often leads to friction and unpleasant experience between drivers and commuters.

We aim to get 1, 00,000 taxis in the country to go cashless by the end of 2016 by offering a frictionless payment process and help them be part of digital payments ecosystem,

said Sudeep.

Cashless payments for taxi rides

Notably, PayTm has witnessed a great success by partnering with Uber for enabling cashless payments for Uber rides. It was after RBI made two-factor authentication mandatory for credit card payments which led Uber to shut down credit card payments on its platform.

Since then, PayTm has become the most preferred option of cashless payment for Uber. In fact, after mobile recharge, cab rides constitute the largest contributor of transactions on PayTm.

However, unlike PayTm, Freecharge is not targeting cab aggregators like Uber or Ola. Instead, it is focussing on the unorganized taxi segment. The segment forms a major chunk of the taxi market although online cab services are more popular at present.

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