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Digital payments company Freecharge on Tuesday said it will provide free insurance on e-wallet balance of up to ₹20,000 to users in case of loss or theft of mobile phones. The Snapdeal-owned company has partnered with Reliance General to provide free insurance on wallet balance to customers, including consumers and merchants.
Under the arrangement, the wallet balance of customers will be insured up to ₹20,000, as long as the user is transacting at least once a month. In case of loss or theft of phone, the customer needs to lodge an FIR within 24 hours at a local police station and report the same immediately to FreeCharge via e-mail or by calling customer care.
“Over the course of operations, we have realised that consumer perception of wallet safety is critical to drive both adoption and retention of our customers and hence, we are offering this plan to our consumers free of cost,” said FreeCharge CEO Govind Rajan.
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