Online recharge portal RechargeItNow has revamped the User Interface as it tries to cater to the increased traction. The newly revamped website features multiple user specific and informative updates that allow users to make purchase decisions. We gave the site a quick tour and it seems the company has taken a different approach to offering recharging and top-up options to its patrons. The portal doesn’t appear to assume that the visitor has already made a purchase decision and has come merely to execute the same via the site.
The website now has extensive recharge tariff plans with details on talk time and privileges within.
RechargeItNow is essentially a marketplace for recharge of multiple types foremost of them being prepaid mobile connections, Data Cards and DTH subscriptions. Hence there is a constant risk of failed transactions since the website works with service providers as well as payment processing companies. Trying to enhance the functioning, the site now has ‘Instant Refund’ that ensures funds deducted while making the transaction are reverted back to the user’s account in case the said transaction fails. The fear of losing money is perhaps the greatest hurdle while shopping online and RechargeItNow seems to have alleviated the concern significantly.
Mobile Recharge is still the most preferred activity and the company isn’t expanding soon: “In terms of transaction volume mobile tops the list with 90% of transactions coming for mobile recharges and it is followed by DTH (8%) and data (2%)” confirmed Sharat Jain, President, RechargeItNow.com. Additionally, he denied trying to expand into segments like utility bills, online tax payment services, etc. “We are testing a lot of things but nothing mainstream to share at the moment.”
Presently the company is claiming a turn-over rate of over 100,000 recharges on a daily basis, delivering over Rs. 600 Crores (US$ 100 Million) worth of annualized transactions on run rate basis. Additionally, the portal is exceeding 7 Million users. With such impressive numbers, is it a threat to rivals like FreeCharge, MobiKwik, PayTm, etc. some of whom have ventured into new verticals?