 "Snapdeal crosses 1 million transactions on app")
Snapdeal announced that customers have made over 1 million transactions for bill payments & recharges on app, in the past month. The app is another step in merging FreeCharge with Snapdeal.
"The rapid adoption is a huge validation of our efforts. There is a huge scope for digital commerce adoption in India. Currently, only 4% of all recharges in the country happen digitally," said Anand Chandrasekaran, chief product officer, Snapdeal.
For mobile recharges, metros contribute 45% of total transactions but cashless recharge is at 55% in Tier-2 and Tier-3 cities. Pre-paid recharges are bringing in the highest volume of these transactions at 84%, with post-paid and DTH contributing 16% of the pie and growing, a statement released by Snapdeal stated.
The mobile wallet market in India is estimated to touch $6.6 billion by 2020.
