India’s Unified Payments Interface (UPI) market is expanding rapidly as the country adopts digital payments. A recent statement by Union IT Minister Ashwini Vaishnaw indicated that UPI transactions contributed 55% of India’s GDP. PhonePe, Google Pay and Paytm dominate the UPI market, while Freecharge, a financial services app under Axis Bank, aims to increase brand awareness. Fintrackr reports that Freecharge’s scale has risen 12.5 times since its acquisition by Axis Bank, and advertising and marketing spending increased by 62% in FY22. Freecharge is using the Indian Premier League to increase brand awareness with a new campaign called ‘Pay Kar. Befikar’, featuring actor Jaideep Ahlawat, that will be promoted throughout the ongoing IPL season across JioCinema and other digital platforms. The campaign aims to position Freecharge as a one-stop solution for all payment and credit needs. After the IPL, Freecharge plans to partner with local media to reach local markets and target small merchants and business owners.
