Freecharge Announces New Incentives For Merchants Signing Up
Freecharge just announced that it will not charge any commission or setup fee, for the new merchants who sign-up with them, to accept payments through Freecharge. This means that 100% of the payments made by users will be credited to the seller’s account. This represents an 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.
In addition, FreeCharge also rolled out a faster, instant sign-up for merchants, which can be completed within 5 minutes. Post the sign-up, merchants will be able to immediately start accepting digital payments by using their smart phones. Unlike in the case of debit and credit cards, no separate machine needs to be installed for FreeCharge as all transactions happen through the merchant’s existing smartphone. This will save at least Rs. 10,000 for the merchants in the initial set up cost as no deposits etc are required.
In fact, as the offer is launched, the effects are being felt in the market already. offer led to a sharp increase in the number of merchants signing up to start receiving payments through FreeCharge. Govind Rajan, the CEO of Freecharge even said, “After rolling out the Zero Cost offer, we have received thousands of queries and missed calls. Since today morning, our team has been signing up a merchant every 30 seconds. A dedicated team is in place to assist the merchants. We are committed to making the digital transition swift, seamless and easy for our merchant partners.” The excitement can be guaged from the fact that nearly 60% of the merchants who signed up over the last 2 days, received their first digital payment within one hour of starting their FreeCharge wallet. The largest number of sign-ups have been from the self-employed professionals and food delivery joints.
To start the setup process, merchants could leave a missed call on 022-39966223, the team from Freecharge will call back to go through the process. By and large, this process brings a 0% commission, a 5-minute merchant sign-up process, and 10-second user payment process, which is making it easier for a large section of merchants, who are concerned coming into the digital fold.
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