Online recharge stores emerged when smart phones started gaining huge popularity in India and established its empire by flooding the Indian market with its cheap price. Paytm and Freecharge are the two popular and leading online recharge store that helps in making online transaction to recharge mobiles, DTH or data cards, electricity and gas bills, and even online shopping. The popularity of online recharge has arrested nationwide recognition and it is expected to quadruple in the next ten years.
The reason why online recharge has gain so much of popularity in last two years are given below with details.
- 1. The magnified popularity of smartphones helped in boosting the number of users of online recharge stores like Freecharge, Paytm, Mobikwik etc. Online recharge stores have developed their mobile apps which can be directly downloaded in their mobile platforms that could be Android or Windows or Iphone. Mobile apps of these online recharge stores have been developed a few years ago and this has contributed to their development and popularity as the number of internet users through mobile is very much higher than that of laptop or desktop computers. Moreover, the mobile apps establishes faster browsing and more secured payment than the website counterpart, and even ensure more organised and systematic way of executing a transaction.
- 2. The last two years have been observed by many as the time period when huge number of Indians, almost around 60% Indians got familiar with internet, which is mainly because of the increase of price efficiency of smartphones. People also learnt the benefits of online recharge through social media sites like Facebook and Meetup, advertisement displayed on Search Engines, and verily the newspapers. Indians also learnt about the benefits of online recharge stores that also helps in making safe online transaction across online shopping portals like Flipkart, Snapdeal, Jabong,and Amazon etc. Some blogs also helped to gain popularity by providing offers, deals, Free recharge tricks and coupons towards shopping website which attract users to use the services This kind of transaction can be done through digital wallet system enabled by online recharge stores like Freecharge and Paytm.
- 3. Online recharge stores started providing huge amount discounts since last two years and since Indians love discount offers & cashback benefits, their popularity enhanced a lot. The discount offers mainly ranges around 20% to 50% that is certainly very much attractive and beneficial for people. People generally use these discount offers in online shopping and recharging bills of phones and electricity. Furthermore, Paytm, Freecharge, Mobikwik, etc., also provide exciting cashback offers that sometime turns out to be 100%. Both the discount and cashback opportunities captivated large number of online traffic, and reports suggested a huge number of online shoppers are purchasing goods through digital wallet technology presented by Paytm and Freecharge.
- 4. Since the last two years have witnessed wide spread recognition of digital wallet technology. People between the ages 25 – 35 are so much attracted to it by knowing the benefits that the number of digital wallet users enhanced tangibly. Paytm wallet gathered the most attention, for it is very easy to use and the transaction procedure is not only fast and easy but it also help in earning huge cashback benefits and astonishing discount offers, especially during online shopping transaction. Leading e-commerce portals like Jabong, Flipkart, amazon, Dominos, Uber, Olaetc have tied up with online recharge stores like Paytm, Freecharge, Mobikwiketc to enable their digital wallet benefits during online payment.
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