Thursday, 21 January 2016

FreeCharge Partners MasterCard, Yes Bank to Launch Virtual Card


FreeCharge Partners MasterCard, Yes Bank to Launch Virtual Card
Mobile wallet player FreeCharge has launched its new virtual card 'FreeCharge Go', in partnership with Yes Bank and powered by MasterCard.
The integration is now live, and enables universal payments of its app online and offline through a prepaid virtual card, which can be activated in a few seconds, the company said.
We were able to get a virtual card generated in no time by logging on to a FreeCharge account on the web, where entering an MPIN was all it took to generate a FreeCharge Go card. Users can top up this card by adding money to FreeCharge wallet, and use it to make payments on Indian e-commerce websites, the company said. We've reached out to the company for a comment on whether the card will facilitate payments on services reliant on international gateways.
FreeCharge Go is secured with 128-bit encryption and stored as per PCI DSS compliance, the company said. Post activation, FreeCharge users will be able to see a 16 digit MasterCard number with an associated CVV in their account. The card details are only accessible after entering security MPIN every time the customer has to view the card details to protect customer information. As a security measure, every transaction using the card needs to be verified by an OTP which is sent to the registered mobile number.
FreeCharge had announced its offline payment integration with McDonald's on Tuesday. The company claims to have over 15 million users for its Wallet, launched in September 2015.