Digital wallet firm FreeCharge Payment Technologies Pvt Ltd is witnessing a surge in the number of transactions, registering more than 30x growth over November, even as the average transaction value has come down from Rs 700 to Rs 500. Govind Rajan, CEO, FreeCharge, says the wallet is now witnessing transactions for tickets as small as Rs 10, and hence the fall in average ticket size.
Even as competition with Paytm, MobiKwik, and bank-owned apps hots up, Rajan says FreeCharge occupies the second spot in the e-wallet space, adding the company would rather focus on growth than competition. “At this point of time, we are all at a market development stage. So, I am not really worried about competition,” Rajan says. In an interaction with Techcircle, Rajan talks about competition from Paytm as well as the BHIM app.