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On 27 July 2017, it was officially reported that Axis Bank bought out Freecharge for $60 million. [18] On 22 March 2017, Ankit Khanna was appointed as COO. Prior to this, Khanna was the chief product officer of the company. [19] March 30, 2018, FreeCharge enables BHIM UPI on its Digital Wallet platform. [20]
Immediate Payment Service is managed by the National Payments Corporation of India (NPCI) and is built upon the existing National Financial Switch network. In 2010, the NPCI initially carried out a pilot for the mobile payment system with 4 member banks (State Bank of India, Bank of India, Union Bank of India and ICICI Bank), and expanded it to include Yes Bank, Axis Bank and HDFC Bank later ...
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