Freecharge reports massive jump in usage within hours of note ban

Payments app, Freecharge, reported a significant jump in usage hours after the announcement of Rs. 500 and Rs. 1000 note ban was made

Payments app, Freecharge, reported a significant jump in usage hours after the announcement of Rs. 500 and Rs. 1000 note ban was made. A report published by the company stated that it saw around 12 times rise in usage across India. Customers started doing recharge with their wallets, which led to the significant rise in usage of the application.

The ban on Rs. 500 and Rs. 1000 notes was one of the biggest announcements of the year made by Prime Minister Narendra Modi. Govind Rajan, the CEO of Freecharge, said that the company is thrilled to see that so many customers across the country can continue paying conveniently and securely for their utilities through Freecharge.

This report indicates that how customers and digital wallet users continue to online purchases and payments without being affected by the ban on notes. This move by PM Modi is an initiative by the nation curb ‘Black Money’.

RBI will introduce new Rs 500 and Rs 2000 notes and the same will be available from November 10.

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