FreeCharge has launched an e-wallet protection plan for all its users in partnership with the Reliance General Insurance Company Limited; to be offered free of cost
Domestic digital payment platform FreeCharge has launched an e-wallet protection plan for all its users, which will be offered at free of cost. In partnership with the Reliance General Insurance Company Limited, FreeCharge will offer all its customers e-wallet insurance up to Rs. 20,000 as long as the user makes a transaction at least once a month.
With the demonetisation in effect in the country, demands and significance of the cashless online transactions have increased rapidly.
While many people are using the e-wallets provided by several companies, the concerns about the safety of these platforms are becoming a rising concern. In that case, the e-wallet protection plan by FreeCharge is surely a positive stance taken by the company.
Speaking on the launch of this facility Mr. Govind Rajan, the Chief Executive Officer of FreeCharge has said, the company is constantly innovating and experimenting to protect the customer interests in best possible way. He also believes that apart from offering faster, convenient and efficient transaction; this protection plan will help the new users to adopt the platform as well as it will help existing users to take part in more active way.
as the Indian government is also encouraging the idea of cashless online transactions to promote the less cash economy, FreeCharge believes such steps will boost the idea further. According to the protection plan, in case of phone loss of theft, the user needs to file an FIR within 24 hours at the local police station and repot that to the FreeCharge immediately via email or by calling its customer care.
Speaking about the plan, Reliance general Insurance Co. Ltd’s Chief Executive Officer Rakesh Jain has said, India is currently witnessing a digital revolution and this is increasing the focus on digital payment system. He says that the insurance of the e-wallet is a timely and logical step.