Touching seven million daily transactions is on top of the agenda for Freecharge’s new Chief Executive Govind Rajan , as he takes over from Kunal Shah , the founder of the digital payments platform , who stepped aside from the role earlier this week.

Rajan, who prior to his elevation, held the role of chief operating officer at the Snapdeal-backed digital payments platform, said the company was seeing a customer repeat rate of 70%, and that he was confident of reaching the gross merchandise transaction of .`20,000 crore by the end of the current fiscal.

Freecharge , which was acquired by Snapdeal last year, is seen as the focal point of ecommerce marketplace’s growth strategy, as it bids to create a complete online ecosystem of goods and services.

“Our transaction growth at Freecharge has been fundamentally driven by sticky customers, who are doing five transactions a month. Our transaction growth is driven by customers doing more than three different types of transactions a month. It’s also being driven by user experience,” Rajan said.

Rajan joined Snapdeal in July last year, as its chief strategy officer, but was almost immediately tasked with running the day-to-day operations of Freecharge, at a time when it started challenging the acknowledged market leader Paytm.

He, however, rubbished claims that Freecharge Founder Shah will leave the company to start a new venture.

Source: The Economic Times