Freecharge is recently launched web based service which lets users to recharge any prepaid mobile phones in India. Via Freecharge user can recharge currency upto Rs 1000 and minimum recharge value is Rs 10. Freecharge is conceptualized and launched by a strategic marketing company called Accelyst which work with India’s top retail companies.
To promote the usage, Freecharge has tied up with retailers like McDonalds, Barista where upon recharging user gets a free coupon equaling the amount which can be redeemed in the respective retail outlets, truly an amazing strategic partnership. It gives notion to user that they getting recharge free of cost
Freecharge is seed funded by Tandon Group, members of the Mumbai Angels. Freecharge has already acquired a ‘patent pending’ status for their business model
The online prepaid recharge business currently contributes to less than 1% of the total prepaid recharge but given the volumes of the Indian telecom industry even this amount runs in over 100s of Crores. The working model of Freecharge seems to be a sure win-win for mobile operators, retailers and the users.