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Four months after the launch of its Digital Wallet, digital payments platform FreeCharge has launched its new virtual card ‘FreeCharge Go’. Launched in association with YES Bank, the virtual card is powered by MasterCard and can be activated in less than 5 seconds by users logging onto their FreeCharge account to generate their virtual card.
The card is linked to the FreeCharge wallet, making it universally accepted across all online merchants in India, thus empowering users to transact across all major e-commerce portals.
‘Over 15 million users’“With 15 million registered users and ₹150 crore a month pumped into the wallets in the form of cash back, seller promos and refunds, FreeCharge Wallet is the fastest growing wallet in the country with 99 per cent of our transactions being completed in less than 10 seconds. With FreeCharge Go, we are entering the next phase of our journey that will make transacting online not only swifter and safer but universal too, as the card will be accepted universally across all major online portals,” said Govind Rajan, Chief Operating Officer of FreeCharge.
To ensure security of customer data, FreeCharge has deployed state-of-the-art technology, wherein data is secured with 128-bit encryption and stored as per PCI DSS (Payment Card Industry Data Security Standard) compliance.
Post activation, FreeCharge users will be able to see a 16-digit MasterCard number with an associated CVV in their FreeCharge account. The card details are only accessible after entering security MPIN every time the customer has to view the card details, to protect customer information.
Additionally, every transaction using the card needs to be verified by an OTP, which is sent to the registered mobile number.
Porush Singh, Country Corporate Officer (India), and Division President (South Asia) of MasterCard, said: “In India, digital wallets are emerging as the new trend among consumers in tandem with smartphone adoption and rise in the number of Internet users. Our partnership with FreeCharge Go will provide a full spectrum of merchant services on a secure payment platform to consumers.”
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