Money & Banking

Freecharge launches Digital Credit Card for millennials

Our Bureau Mumbai | Updated on August 27, 2019

Focussing on the millennial generation, digital payments major Freecharge has launched a Digital credit card with Axis Bank.

“Freecharge’s Digital Credit Card comes with 50 days’ of credit period and is accepted across ecommerce platforms with exclusive access to deals across categories. The online transactions can also be converted to EMI as per their convenience,” FreeCharge said in a statement on Tuesday.

The company adding that initially, the card will be rolled-out to a select group of customers and then subsequently opened to a larger base.

Siddharth Mehta, CEO, Freecharge said, “Our entry into this space is driven by the quintessential requirement of easy availability of credit that allows the aspirational millennial to take spontaneous and independent decisions.”

This is the second credit card offering aimed at millennials in recent weeks. Last week, HDFC Bank had launched its Millennia range of cards including debit cards, credit cards, prepaid and EMI cards. However, the HDFC Bank card is available for both online and offline purchases.

Sanjeev Moghe, EVP and Head of Cards and Payment of Axis Bank said, “We are positive that this targeted product will contribute substantially to the Bank’s credit card portfolio.”

Customers can get their Freecharge Digital Credit Cards by just entering their details on the Freecharge app, which will enable a Visa Credit Card instantly on their mobile phones.The online transactions can also be converted to EMI.

Published on August 27, 2019

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