FreeCharge denies reports of sale to PayPal 
Homegrown e-wallet FreeCharge has dismissed reports that suggested global payments platform PayPal is set to buy a 25% stake in the company. Media reports claimed on Sunday that PayPal is expected to take a significant stake in FreeCharge for around $200 million.  "There is no such discussion or proposal and the story is completely incorrect," a FreeCharge spokesperson said.
Dismissing reports that global payments platform PayPal is set to buy a 25 per cent stake in homegrown e-wallet FreeCharge, a company spokesperson has denied any such development.Media reports claimed on Sunday that PayPal is expected to take a significant stake in FreeCharge for around $200 million."There is no basis to a speculative media story about FreeCharge and PayPal being in discussion about a stake sale. There is no such discussion/proposal and the story is completely incorrect," a FreeCharge spokesperson said in a statement on Monday.Also Read:  Demonetisation: Now pay traffic challan using FreeCharge The number of people downloading the Freecharge app, registrations for mobile wallet, transactions on third party merchants -- are all growing by 10-15 times on a per day average basis, Bahl added.