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Axis Bank set to take over Freecharge

  • IndiaGlitz, [Thursday,July 27 2017]

Axis bank is set to take over mobile payment service provider Freecharge for 385 crore, which is about $60 million. Freecharge is currently owned by ecommerce company Snapdeal, which in turn is being acquired by Flipkart.

Amazon was also in the race to acquire Freecharge by quoting a higher big, however Snapdeal board members decided to go with Axis Bank. The deal will help the bank in building up its digital payment section.

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