Founded in 2010, Freecharge is among a growing coterie of companies fueling the wave of fintech in India. Freecharge currently has over 1,00,000 merchants on its platform and is looking to jack it up to five million in the next 18 months. "Freecharge is also exploring various partnerships in this category," says Tandon.But, he knows it may not be an easy ride. "The real problem is diverting consumers from cash, since that is something that has been ingrained in the Indian mindset. At the same time, we have enabled merchants to self sign-up as well, helping them easily integrate with Freecharge," says Tandon.

Source: Economic Times September 06, 2016 06:14 UTC