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FreeCharge appoints Karthik Rajeshwaran as director of strategy

karthik-rajeshwaranSnapdeal-owned digital wallet FreeCharge has appointed Karthik Rajeshwaran as director of strategy. Rajeshwaran joins the company from Obi Worldphone where he functioned as head of global marketing. He was responsible for driving brand growth  and adoption across the middle east, Latin America, South East Asia and South Asia.

According to his LinkedIn profile, he also worked in Hindustan Unilever for more than three years in different roles. Rajeshwaran holds a management degree from Indian Institute of Management, Lucknow, and a Bachelors in Electrical Engineering from Visvesvaraya National Institute of Technology.

In May this year, Freecharge promoted chief operating officer Govind Rajan to CEO while co-founder Kunal Shah was made Chairman of the company. In the same month, the payments company hired former Amazon executive Fareed Jawad as VP of Payments, responsible for building payments technologies.

In December 2015, the company appointed Anshul Kheterpal as its chief financial officer. Kheterpal is responsible for the digital payments business strategies at FreeCharge and Snapdeal.

Snapdeal had acquired Freecharge in 2015, in a $450 million deal.  It competes with Paytm and Mobikwik, had started offering mobile wallet service last year. So far Snapdeal is maintaining Freecharge as a separate entity with its own CEO and management team, however, both the e-commerce and mobile payments arms cross-sell each other’s businesses on their websites and apps.

Past developments

– In July, Axis Bank and FreeCharge partnered to allow its users to make payments through the Unified Payments Interface (UPI). Through this, its users will be allowed to load money into their wallets through the UPI option which will be powered by Axis Bank’s SDK.

– In March, it  signed a deal with CCAvenue where customers of FreeCharge will have access to over one lakh merchants of the payment gateway.

– In February, the company tied-up with mobile POS solution provider Ezetap to enable Freecharge’s customers to make payments across Ezetap’s service points.

– In January, they launched FreeCharge Go, a virtual card which can be used to make payments across all online merchants in India, in association with YES Bank and powered by MasterCard.

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