In an attempt to step up its competition with market frontrunner Paytm, mobile wallet platform FreeCharge on Tuesday announced its partnership with online marketplace pioneer eBay India via Billdesk.
The partnership will allow both FreeCharge and eBay customers access to over 100 million product listings, for which they can pay using the FreeCharge wallet option. The users can also avail 25 per cent cashback offer on selecting FreeCharge as the payment mode.
“We are extremely pleased to associate with eBay as their payment partner. While we are constantly trying to provide our users with a seamless consumer experience, merchant acceptance still forms the bedrock of our business. With associations like these, we further that cause while adding more payment options and use cases for our consumers. We hope this partnership will fuel growth for both eBay and FreeCharge in the days to come,” Sudeep Tandon, CBO FreeCharge, told ANI.
“With the digital payments garnering greater traction post-demonetisation and more and more people getting acquainted with e-wallets etc., we will see the increase in such partnerships. Such associations will also help e-commerce platforms to minimise COD orders and enhance the online shopping experience for buyers,” he added.
Meanwhile, according to n Economic Times report, eBay India posted a three-fold jump in sales in 2015-16. However, its losses widened to Rs 262 crore in FY16 from Rs 172 crore a year ago despite various cost-cutting initiatives.
According to the company’s annual filing to the Registrar of Companies (RoC), it posted revenue or income of Rs 392 crore for the FY 2015-16. eBay’s revenue stood at Rs 132 crore in the previous fiscal.
In comparison, Amazon Seller Services' turnover for the previous fiscal rose 116 per cent to Rs 2,217 crore, while Flipkart Internet’s sales increased 153 per cent to Rs 1,952 crore during the same period.
