Amazon India’s winning horse Fareed Jawad tags with FreeCharge as Principal Product Architect
New Delhi: Freecharge, the Snapdeal owned digital payment platform declares Fareed Jawad as its principal product architect and vice president of payments this Wednesday, 27th May.
“Freecharge is one of the most exciting brands in the digital payments sector today and I am happy to be part of this growth journey. I look forward to creating core payment assets that will help our customers experience a frictionless payments ecosystem in the country and establish FreeCharge as the leader in the Payments space,” says Fareed in the press release.
Before entering into this venture, Fareed was earlier associated with Amazon India as principal product architect and has massively contributed in setting up the core payment processing system. Fareed was also associated with Flipkart, the largest online set up in India, as Director (Product Management). PayZippy, Flipkart’s payment gateway service, had Fareed as a part of the core team who launched it. Unfortunately Flipkart had to close PayZippy in 2014 as it failed to attract the estimated number of customers.
Govind Rajan, CEO of FreeCharge said “We look forward to Fareed’s contribution in strengthening our technical expertise and payments capabilities with his in-depth understanding of payments sector. Fareed will be responsible for developing products for customers and merchants both online and offline, in line with our vision to be the digital OS for the payments business in India.”
FreeCharge is targeting massive growth by the end of 2016-2017 financial year. In December 2015, FreeCharge hired Anshul Kheterpal as its new finance head. Kheterpal was former Airtel Money CEO. A couple of months prior to that, Freecharge had brought Sudeep Tandon onboard as CEO to look after corporate strategies and tie-ups. Tandon was former engagement manager for Cartesian, a TMT focused consulting firm.
After acquiring three major talents, Rajan said “Fareed’s appointment reaffirms FreeCharge’s commitment to hiring the industry’s best talent. We are on a cusp of a revolution to accelerate the fin-tech capabilities in India.”
The rapidly growing Indian ecommerce market is estimated to hit $100 billion by 2020. FreeCharge is going to give a tough competition to current payment service market leader, Paytym, an initiative by Alibaba Group. The strategic steps by FreeCharge seem very promising.