FreeCharge announces 0% Commission and Zero Setup Fee for Merchants

MUMBAI: Digital payments platform FreeCharge today announced that it will not charge any commission or setup fee to merchants signing up to accept payments through its platform. This means that 100% of the payments made by users will be credited to the seller's account.

This is expected to lead to recurring savings for the merchants as credit card companies normally deduct 2-4% 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 has also rolled out a faster, instant sign-up for merchants, which can be completed within 5 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.