FreeCharge to not charge commission, set up fee

India's fastest growing digital payments platform FreeCharge has announced that it will not charge any commission or setup fee to merchants signing up to accept payments through FreeCharge.

This means that 100 % of the payments made by users will be credited to the seller's account. This represents an important and recurring saving for the merchants as credit card companies normally deduct two to four percent for each payment made through them. The zero fee offer is a special limited term offer for all new merchants who sign up with FreeCharge. In addition, FreeCharge also rolled out a faster, instant sign-up for merchants, which can be completed within five minutes. Post the sign-up, merchants will be able to immediately start accepting digital payments by using their smart phones.

Unlike in the case of debit and credit cards, no separate machine needs to be installed for FreeCharge as all transactions happen through the merchant's existing smartphone. This will save at least Rs. 10,000 for the merchants in the initial set up cost as no deposits etc are required. All interested merchants can leave a missed call on 022 39966223 and FreeCharge will call back to start the account for the merchant. FreeCharge offers zero percent commission, five minute merchant sign ups and 10 second user payments.