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News: Business

Fin-Tech Company Paynear partners with FreeCharge

Hyderabad, December 14, 2016: Hyderabad based Paynear, one of India's leading digital payments platform today announced its partnership with Bangalore based payment solution provider FreeCharge.

Paynear's partnership with FreeCharge will help ease the consumer payments for nearly 15,000 merchants across categories like retail, hospitality, food & beverage, pharma, health and beauty and many other business verticals.Paynear specializes in providing payment solution to SME & MSME through their omni channel solution along with customer retention and management tools for them.

With the arrangement with Paynear, customers can use their mobile phones to make payments and complete the transaction with a secure On-The-Go-Pin in less than 10 seconds. The payment can be made using FreeCharge even in absence of internet connectivity.

'Paynear ONE' a payment solution that transforms merchant's Smartphone/Tablet/PC to a card payment acceptance device. The solution seamlessly connects to a Chip and Pin, EMVCo certified PED to process payment transactions.

It offers an end-to-end merchant-centric solution that aids in store management, active customer engagement, and rewards, sales tracking apart from payment acceptance.
The partnership with Paynear will fuel the growth of these smaller merchants which form the backbone of Indian retail sector.The partnership will enhance FreeCharge's acceptance to another 15,000 merchants across 20 states in India.

'Ms.Priti Shah, the CEO of Paynear remarked that 'We are glad to collaborate with FreeCharge to provide a wide range of innovative and reliable solutions for payments processing and offer end to end solutions to retail and business segments including merchants, small businesses and SMEs. Our omni-channel package which comprises value added services, inbuilt tools and the complete payment suite will be extremely useful in the present scenario, by further simplifying payments transactions. '

Commenting on the partnership, SudeepTandon, Chief Business Officer, Freecharge, said, 'The partnership will help FreeCharge in reaching out to SME's and individual businesses and strengthening its presence further in the retail domain. We are pleased to partner with Paynear and hope to offer a better shopping experience to their customers through our innovations and solutions.'

About Paynear

Having established in 2013, Paynear is one of the few FinTechStartups in helping India to drive towards cashless economy. With an experience of deploying more than 10,000+ devices in 150+ cities and towns, Paynear is equipped to meet the emerging needs of card & digital payments landscape with its fully compliant and cutting-edge payment solutions.

Paynear believes that accepting card payments should not be complicated requiring high-cost infrastructure. The Company provides a simple and affordable solution for businesses of all sizes - from an Individual to Multi-million dollar enterprise to accept hassle free card payments.

About Freecharge:

Freecharge is India's fastest growing digital payments platform. Consumers across the country use Freecharge to make prepaid, post-paid, DTH and Electricity bill payments for numerous utility service providers in addition to leading online and offline merchants. Freecharge has millions of registered users, is PCI DSS compliant for information security and is at the forefront of the mobile commerce revolution with over 90 per cent of transactions originating from mobile. Freecharge Go, the virtual card was launched in January 2016, making Freecharge wallet the universally accepted wallet in India.

For more details, please visit:

News Posted: 14 December, 2016
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