Customers have made over one million transactions on the Snapdeal Android and iOS app for bill payments and recharge for mobiles and DTH, since the service was launched last month. The seamless easy recharge and payment facility is powered by the in-app integration with FreeCharge and is extremely well received by Snapdeal customers across the country.
Commenting on this achievement, Anand Chandrasekaran, Chief Product Officer, Snapdeal said, “Mobile is a key growth driver for e-commerce and we at Snapdeal are dedicated to building the most reliable and frictionless mobile commerce platform. The rapid adoption is a huge validation of our efforts to create a recharge experience on the new Snapdeal App that is much easier, faster and more rewarding than cash. There is a huge scope for digital commerce adoption in India as currently, only 4% of all recharges in the country happen digitally. Combining the fun of shopping for what users want with ease of utility payments and similar transactions that they need will accelerate the adoption of digital commerce.”
For mobile recharges, the bigger metros contribute to 45% of total transactions but it is the smaller cities and towns beyond tier 2 and 3 that are driving the adoption of cashless recharge the most at 55%. Pre-paid recharges are bringing in the highest volume of these transactions at a massive 84%, with post-paid and DTH contributing a promising 16% and growing.
The “one tap” payment feature provides a fast and frictionless experience to the customers, making it convenient and hugely popular. Driven by a largely young demographic that is rapidly adopting smartphones, coupled with increasing mobile internet penetration, the mobile wallet market in India is estimated to touch $6.6 billion by 2020.
