Inculcate the Digital Habits to Drive the New-Gen Payment Era Date:   Monday , April 11, 2016 Now a part of Snapdeal, Bangalore-headquartered FreeCharge was co-founded by Kunal Shah and Sandeep Tandon in 2010 and is claimed to be a fastest growing mobile wallet in the country, with over 30 million registered users and more than a billion dollar GMV From the traditional leather wallets to the digital wallets and the latest physical-digital wallet, the rapid transformation of payment modes never seems to cease. Owing to its possibilities of convenience, speed and seamlessness, the smartphones, specifically digital data-enabled phones, have evidently turned out to be key drivers for this upbeat development. In fact, the rate of the evolution of smartphone is poised for a doubling growth every year and in next 2-3 years, around 250 million smartphones will be added. In addition, the government is also proactive in contributing towards architecting a digital India with its projects like Jandhan and AADHAR, while coveted banks like RBI are intensively working towards making the country a relatively cash-less economy. This is undeniably the right time to inculcate the habit of digital payments in the potential users. Serving as a catalyst, the influx of new breakthroughs like OAuth and 3G/4G are creating an infrastructure which not only fuels financial economy, but also aids digital payments\' growth. However, these technologies fundamentally require propagation to be integrated with not only current network, but also different ecosystems, and team partnerships are an enabler in addressing such environmental complications in the domain. The U.S. was quick enough to apprehend the trend, while China closely followed the path. Incentivizing the Ecosystem Because of the staggering growth of the organized and sophisticated frauds, most people tend to prefer offline payments. In addition, the obligatory custom of making an upfront investment enforces people to shun the concept of digital payments. Nevertheless, moving from a habit of using cash to espousing digital payments is possible if you bundle it with the experience that brings various incentives to the forefront. Rated as the most secure startups by third parties, we, as a PCI-DSS complaint, are in the phase of helping people to build such habits and we make sure that the digital payments remains ubiquitous and secure. Subsidizing the first transaction, we are working towards technologies that bring down the cost to even zero, thus making the transition from offline to digital payments hassle-free and cost-free. Driven by stringent fraud holding limits, fool-proof device figure printing framework and a UI - designed to make the transactions swift, smooth and safe - our innovations endeavor to simplify the processes as much as possible. OTP is made available instantly on our app through a patented technology named \'On The Go Pin\', wherein the pin changes every three minutes. Another finest example is our FreeCharge Go MasterCard. Launched in association with Yes Bank, the virtual card is generated only by the account holder and alleviates the long-established norm of partnering with each of the merchants. Not only FreeCharge, but the government is also in talks to espouse the courier model to institutionalize tax incentive in digital payments, which would improve the adoption of digital payments dramatically. (As told to Ananth.V & Kavitha G)