Bengaluru: Freecharge, India’s leading online recharge and utility payments platform, announces that it has partnered with UCO bank to enable efficient recharge and bill payments for its customers. This is Freecharge’s first tie-up with any of the public sector banks, enabling PSUs to adapt digital innovation of online transactions serving all the day-to-day tasks.
Speaking about the new alliance, Kunal Shah, CEO & Co-Founder, Freecharge says, “FreeCharge is committed towards developing the most impactful digital utility payment ecosystem and in line to this vision, partnership with UCO bank will play a crucial role. UCO Bank is a trusted public sector bank and we are delighted to have partnered with them. The partnership will offer our consumers exciting benefits like cashbacks and easier accessibility from e-payments”.
“Our Bank will pursue profitable growth through responsible and responsive banking attuned to the demands of the time. Our Bank is dedicated to serve young and modern India and this is going to be another step in this direction,” quotes Arun Kaul, Chairman & MD, UCO Bank.
Besides the reward coupons that Freecharge is currently offering, now with the support of UCO, it will also offer additional benefits to its users like 10 percent instant cashback on every recharge or bill payment done through UCO bank.
FreeCharge was founded in 2010 by Kunal Shah and Sandeep Tandon. It provides online payment solutions for prepaid, postpaid, DTH and data card bills of almost all Indian Telecom Service Providers like Vodafone, Airtel, Reliance, Idea, DOCOMO, Aircel, BSNL, Tata Sky and many more. It has over 27 million registered users on its platform and 86 percent of the transactions that it processes are from mobile. Till date, the company has raised close to $115 million in two funding rounds from Sequoia Capital, Sofina, ru-Net Holdings and Valiant Capital Partners.