Saturday, March 4, 2017

Snapdeal may sell Freecharge to Paypal

Snapdeal is in talks with Paypal to sell Freecharge. The deal would value the online recharge company at around $500 million. Funding failures is one of the reason to sell Freecharge to PayPal.

Also read: Infibeam acquired cloud ERP solutions provider DRC Systems

Paypal India managing director Anupam Pahuja had said: "We want to play a big role in the digital payments space in India. We want to democratise access to the financial system through our products. There will come a day when cash will be an outdated concept and we feel we are best positioned to attack all pieces of the pipeline."

PayPal has about 192 million customers in more than 200 markets across the world.


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