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FreeCharge launches an escrow service

Mobile payments service FreeCharge has launched an escrow service for merchants, wherein the money is held within the escrow service until the product is delivered to the user. If the product is not shipped to the user, the money is refunded into the buyers wallet. Note that the facility is available on the FreeCharge wallet, which the company offers to merchants. Shopo, which is a C2C platform like Ebay (globally, not really in India), is the first merchant to integrate the FreeCharge wallet and offer an escrow protection to buyers and sellers. It is, of course, the obvious choice, since both Shopo and FreeCharge are owned by Snapdeal. Note that this service is not new to wallets: Citrus Pay*, which recently launched a service called Sellfie, also has an escrow service for buyers. As we had mentioned earlier, wallets route…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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