Axis Bank acquires Snapdeal-owned mobile wallet FreeCharge
Axis bank has acquired Snapdeal-owned mobile wallet FreeCharge in an all-cash deal worth Rs 385 crore to strengthen its position in the payments space. This acquisition is expected to help the bank take a significant step towards digital distribution of financial products. The platform provides access to agile customer-facing technology, which will help the bank to serve its existing customers better and approach new digitally native customers in an efficient manner.
Originally written on
July 28, 2017
and last modified on
July 28, 2017.
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