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Tag: PhonePe

  • PhonePe supercharges financial services portfolio

    PhonePe supercharges financial services portfolio

    NEW DELHI: PhonePe announced that it has supercharged its financial services portfolio. The company has added six new products in the insurance and wealth management space in the last four months. PhonePe credits its cutting edge technology platform that encourages continuous innovation, the passion of its people and strong and aligned partners as the key pillars that have helped launch multiple products at a rapid pace despite the lockdown. 

    Insurance and financial services have been deeply under penetrated categories in India due to  problems of distribution, customer education and awareness. PhonePe with its over 230 million user base, is uniquely positioned to solve these problems and get the right product at the right price point to customers across India. What differentiates PhonePe’s offerings is that the products are simple to understand, come with an instant enrollment and are distributed digitally at very affordable prices. What also sets the offerings apart is the partnerships PhonePe has built with industry leaders in both the insurance & mutual funds space. These partners come with deep experience in this space, and have worked very closely with PhonePe to launch tailor-made offerings for its rapidly increasing customer base. 

    PhonePe financial services & payments vice president Hemant Gala said, “PhonePe is building India’s most comprehensive Financial Services platform. Our philosophy has always been to launch customer centric products backed by a deep understanding of customer needs, with simplified payment flows. The customer response to our recent launches has been phenomenal, and we have already become the fastest growing insure-tech distributor in India and have also seen mutual fund investments from over 15,000 pin codes across tier 1,2 & 3 cities and towns.  We will be launching multiple tailor-made products in the financial services space  addressing key use cases and solving critical customer problems by the end of the year.”

    PhonePe head of product management Vishal Gupta added, “We believe that buying insurance and investing in Mutual Fund products should be a simple, frictionless and secure process. All our Financial Service products have been built keeping the above principles in mind. What is also noteworthy is that despite the lockdown, our pace of product development did not slow down and we were able to bring new offerings to the market with the same cadence that we had set for ourselves in the beginning of the year. The deep collaboration, efficient communication and flawless execution across business and products teams made this possible. We will continue to innovate and deliver use case led products while we build out India’s largest Financial Services platform.”

    Here’s a quick timeline view of PhonePe’s new launches:

    The Personal Accident: Launched in July. Offers the customer or its nominee a fixed, lumpsum amount in the unfortunate event of death or total permanent disability of the insured due to an accident. Premium for the same starts from Rs 24 to Rs 480 with sum insured ranging from Rs 1 lakh to Rs 20 lakh.

    The Dengue & Malaria cover: Launched in July. Offers policyholders a fixed cash payout amount on diagnosis and more than 48 hours of hospitalisation due to 6 vector borne diseases including dengue, malaria, japanese encephalitis, kala-azar, chikungunya and filariasis. 

    Hospital Daily Cash: Launched in July. Offers a per day cash payout for upto 15 days on hospitalisation with a minimum 48 hours of hospitalisation payable from second  day onwards. Premiums start from Rs 130 and Sum insured available amount goes upto Rs 75,000

    CoronaVirus Insurance Policy: Launched in April. Offers a cashless and reimbursement payout for diagnosis and hospitalisation due to Covid-19 – upto Rs1 lakh – with prices starting from Rs 396

    Domestic Travel Insurance: Launched in June. Offers an affordable annual insurance cover of up to Rs 5 lakhs for a number of travel-related untoward incidents for Rs 499

    Super Funds: Launched in May. A comprehensive investment solution managed by professional Fund Managers that invests across multiple top equity, gold and debt funds of different mutual fund companies to help investors create long-term wealth in a safer way. Investors can begin investing with as little as Rs 500 per month.

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  • PhonePe launches new campaign saluting indomitable spirit of India

    PhonePe launches new campaign saluting indomitable spirit of India

    NEW DELHI: India’s digital payments platform PhonePe today announced the launch of a new brand campaign saluting the resilient spirit of the people of India and their unstoppable drive in the face of the COVID2019 pandemic. Inspired by the brand’s philosophy of “Karte Ja, Badhte Ja”, the new brand film showcases how PhonePe continues to help over 20 crore users and over one crore merchants do more and move forward with adequate precautions. PhonePe’s ambassador Aamir Khan has featured and lent his voice to the films of this campaign.

    The inspiring narrative of the campaign illustrates how people are navigating the ‘New Normal’ as the country continues to open up in phases after months of lockdown. It traces stories of unhindered progress of merchants and users, aided by PhonePe, while the pandemic has effectively changed our ways of life. By enabling safe payments from home & contactless payments everywhere else, PhonePe is helping everyone adapt to their new circumstances. The Indian drive for progress has no full stop, as captured in one of the lines in the film – “Rukna toh humein aata nahin”. PhonePe’s offerings which include contactless payments, easy money transfers on chat, bill payments, fast recharge among others nurture the spirit of resilience and always moving ahead.

    PhonePe founder and CEO Sameer Nigam said, “During these unprecedented times, Indians from small villages to large metros are striving to get back to normalcy and progress in their lives. We see our platform as a trusted partner to those billion-plus aspirations. Our latest brand campaign is a tribute to the indomitable spirit of the people of India and reflects everyday stories of progress with PhonePe’s varied offerings.”

    Link to the film:

    Creative Credits: Leo Burnett & OffRoad Films

    The campaign includes a one minute 50-second master film and five shorter 15-second stories. These can be viewed on digital and social media platforms such as YouTube, Facebook, Twitter, Instagram and LinkedIn. PhonePe users can also watch it on the app.

  • PhonePe partners with ICICI Bank on UPI Multi-Bank

    PhonePe partners with ICICI Bank on UPI Multi-Bank

    NEW DELHI: PhonePe, India’s leading digital payments platform, today announced that it has partnered with ICICI Bank on UPI multi-bank model giving its users the option to create and use multiple UPI IDs with ICICI Bank’s “@ibl” handle and YES Bank’s ‘@ybl’ handle on the PhonePe app. This addition, in partnership with ICICI Bank, enables quick and contactless payments to over 200 million registered PhonePe users.

    For PhonePe, this is in line with the company’s philosophy of offering users and merchant partners a seamless transaction flow. Collaborating with two banking partners will further strengthen the overall service reliability and uptime of PhonePe's market-leading UPI offering.

    PhonePe vice president, financial services and payments- Hemant Gala said, “At PhonePe our effort has always been to give customers more choice while making their transaction experience seamless. Offering the ‘@ibl’ handle to the users on our platform further solidifies PhonePe’s already fruitful association with ICICI Bank. With customers now being able to choose between multiple handles for their UPI IDs, we have achieved another key milestone in our journey towards making payments easy, secure and accessible to all.”

    ICICI Bank head-digital channels & partnership Bijith Bhaskar said, “With increase in adoption of digital payments, ICICI Bank remains committed to extend its robust, reliable and scalable ICICI stack for wider use to the customers and partners. In further deepening of its collaborative ecosystem, ICICI Bank is partnering with PhonePe for extending UPI services. We believe that with this partnership both ICICI Bank and PhonePe would be able to capitalise on their immense domain strengths for empowering customers to a seamless and simple digital payment experience.”

    The new version of the app to add or create ICICI Bank’s UPI ID will be gradually rolled out to the users in the coming weeks.

  • PhonePe launches domestic trip insurance with ICICI Lombard

    PhonePe launches domestic trip insurance with ICICI Lombard

    MUMBAI: With the lockdown ending and domestic travel gradually starting across  the country, PhonePe has announced the launch of a comprehensive, industry-first domestic multi-trip insurance cover in a strategic partnership with ICICI Lombard. This product, exclusively available for PhonePe users, provides one of the most affordable annual insurance covers for unlimited trips. This unique solution takes a leap forward from traditional travel insurance removing the need to insure every trip separately and will benefit both business and leisure travellers. The new launch enables a stress-free travel experience for customers by covering risks associated with all modes of travel within the country (road, rail and air within the country) right from the time a customer leaves home till the time he/she returns.

    For domestic travellers who may be worried about stepping out during the Covid2019 pandemic, this unique, all-in-one insurance product offers a comprehensive bouquet of benefits that cover losses arising from trip cancellations, home burglary while travelling, missed connecting flights, lost baggage and more. The product also caters to the needs of customers who prefer buying domestic travel insurance every time they book a ticket or a cab. With 365-day protection at just Rs 499, this is the most cost-effective and hassle-free cover that cuts across all modes of transport.

    For air travellers specifically, there is a unique feature of trip cancellation due to hospitalisation and up to Rs 1000 pay out for trip cancellation due to government lockdown. In addition to this, it also provides cover against death or hospitalisation due to an accident during the journey with a sum assured of Rs 5 lakh. PhonePe now offers customers a complete travel insurance product portfolio with both international and domestic travel insurance catering to the needs of all kinds of travellers.

    PhonePe VP and head of insurance Gunjan Ghai said, “This product reflects PhonePe’s philosophy of finding time and context-relevant products for its customers.  We are excited to launch this unique and industry-first insurance cover for domestic travellers. The product offers cover for all modes of transport for unlimited trips in a year while also providing very relevant features in the current unlocking 1.0 scenario. We believe this solution will provide policyholders peace of mind so that they can focus on enjoying their travel without any worry. We remain deeply committed to  making insurance affordable, simple and accessible for over 200 million PhonePe users.”

    ICICI Lombard General Insurance executive director Sanjeev Mantri said, “We are delighted to associate with PhonePe for this ‘first of its kind’ travel insurance offering. At ICICI Lombard, our focus is to support our customers in their hour of need, thereby demonstrating our brand ethos of Nibhaye Vaade. As we get back to normal life amid social distancing, this product will surely benefit a large number of travelers, safeguarding them from any unforeseen circumstances. Further, the multi-trip, multi-mode makes this solution a convenient, cost-effective and extremely appealing proposition for the frequent traveler.”

    PhonePe users can purchase the domestic multi-trip insurance policy under the “My Money” section on the PhonePe app. The policy purchase process takes less than two minutes and customers will be issued their policy documents instantly on the PhonePe app.

  • How to recharge your mobile through PhonePe

    How to recharge your mobile through PhonePe

    PhonePe is a leading digital payment platform in India. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, make utility payments and buy gold. Did you know that doing a mobile recharge takes just a few seconds on the PhonePe app?

    Here are the steps you can follow to recharge your mobile. 

    Step 1: Click on Recharge under Recharge & Pay bills

     

    Step 2: Select or enter the number you wish to recharge

     

    Step 3: Verify your phone number, circle & operator details

    Step 4: Enter the recharge amount or select from a list of plans under View Plans section

    Step 5: Pick the payment option for the same

    Step 6: Click on recharge to complete the transaction

     

  • How to find stores that are open & delivering to your homes on PhonePe

    How to find stores that are open & delivering to your homes on PhonePe

    PhonePe is India’s leading digital payments platform with over 200 million registered users and is accepted at over 10 million merchant outlets across 400 cities. PhonePe acts as a one-stop-shop for users seeking to send and receive money, recharge mobile, and data cards, as well as make utility bill payments, buy gold and make investments.

    In order to help people adhere to social distancing norms and purchase groceries easily during the lockdown, PhonePe recently launched a few new features under the “Stores” section of the app. These features allow users to identify stores or shops in their vicinity that are up and running, while also offering home delivery. Furthermore, users can also make payments for their purchases through the app for contactless payments.   

    Here is a step-by-step guide on how to find stores that are open & providing home delivery services via PhonePe.  

    To start with: Download the PhonePe app if you haven’t already and proceed as outlined below:

    Step 1: Open the PhonePe App and click on the ‘Stores’ section at the bottom of the homepage

    Step 2: To see the stores that are open around you, click on the ‘Currently Operational’ filter

    Step 3: Then click on the ‘Home Delivery’ filter to view stores that provide the service in your area

    Step 4: Select the store of your choice to view its contact details 

    Step 5: Place the order of the desired items with the store over a phone call and pay directly to the store without QR Code via PhonePe using the “Pay Now” feature

    Congratulations! You have successfully placed your order and can expect delivery depending on the store.
     

  • How to pay your electricity bills through PhonePe

    How to pay your electricity bills through PhonePe

    PhonePe is a leading digital payment platform in India. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, make utility payments and buy gold. Did you know that paying your electricity bill takes just a few seconds on the PhonePe app? 

    Here’s how to pay your electricity bills with a few simple steps. 

    To start with: Download the PhonePe app if you haven’t already and proceed as outlined below.

    Step 1: Open the PhonePe app and click on ‘Electricity’ under the ‘Recharge & Pay Bills’ section

     

     

     

    Step 2: Select your Electricity board

     

    Step 3: Enter your bill details

     

     

     

    Step 4: Pay your bill with UPI/Debit Cards or Credit Cards

     

     

    Congratulations! The transaction is successful. 

     

    AutoPay Option: To make recurring bill payments convenient and friction-free, customers can enable the AutoPay option on PhonePe. With Autopay, customers need not worry about the due dates of their multiple utility bills or fret about incurring late payment charges. The due amount shall get automatically debited from the customer’s chosen payment method. 

    Payment modes: PhonePe lets consumers pay for their bills using the mode of payment they are most comfortable with; UPI or Debit or Credit Card and Wallet. On PhonePe customers can pay electricity bills for over 70 electricity boards/companies a few of which are listed below:-

    ●    Maharashtra: MSEDCL Mahavitran, Adani Electricity Mumbai Limited, Tata Power Mumbai
    ●    Andhra Pradesh: Eastern Power Distribution Company of AP Limited, Southern Power Distribution Company of AP Limited
    ●    Telangana: Southern Power Distribution Company Of Telangana Limited ( TSSPCL), Northern Power Distribution Company Of Telangana Limited (TSNPCL)
    ●    Rajasthan: Jaipur Vidyut Vitran Nigam Limited, Jodhpur Vidyut Vitran Nigam Limited, Ajmer Vidyut Vitran Nigam Limited
    ●    Delhi: BSES Rajdhani Private Limited, BSES Yamuna Private Limited, Tata Power DDL
    ●    Karnataka: BESCOM, HESCOM, GESCOM, CESCOM, MESCOM
    ●    Tamil Nadu: Tamil Nadu Electricity Board Limited
    ●    Punjab: Punjab State Electricity Board Ltd (PSPCL)
    ●    West Bengal: CESC Kolkata, West Bengal State Electricity Distribution Company Ltd

  • How to Recharge DTH through PhonePe

    How to Recharge DTH through PhonePe

    PhonePe is a leading digital payment platform in India. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, make utility payments and buy gold. Did you know that doing DTH recharge takes just a few seconds on the PhonePe app? 

    Here’s how to recharge your DTH with a few simple steps. 

    To start with: Download the PhonePe app if you haven’t already and proceed as outlined below.

    Step 1: Open the PhonePe app and click on “DTH” under the Recharge and Billpay section

    Step 2: Select your DTH provider

     

    Step 3: Enter your Registered Mobile Number / Subscriber ID / Customer ID

    Step 4: Enter the amount for recharge, and pay using your preferred mode (UPI, Debit Card, or Credit Card)

  • PhonePe extends ‘work from home’ to offline sales, customer service agents

    PhonePe extends ‘work from home’ to offline sales, customer service agents

    MUMBAI: In order to minimize the risk of a severe, broad based Covid-19 outbreak in India, all businesses are taking a variety of measures to prevent the spread of infection, and trying to ensure the health and safety of all their employees, their families and the broader societal ecosystem around them.

    Given the critical role that PhonePe plays in India’s digital payments ecosystem, we are working around the clock to ensure that all our services, including customer support & merchant support, continue to run seamlessly 24/7 without any sort of disruption. However, we need to balance this broader societal responsibility, with our responsibility to protect the health and safety of all our employees, contractors and extended workforce.

    Accordingly, PhonePe has taken the following measures to ensure that our services continue to be fully operational 24*7, while keeping our employees safe and out from harm’s way.

    Mandatory WFH policy for ALL employees till March 31st:

    ·        On March 12th, 2020, we introduced a mandatory work from home (WFH) policy for all our corporate office employees.

    ·        On March 21st, 2020, we have extended this policy for ALL our employees and ALL our contractors. This means all PhonePe employees, including ~8,500 offline sales agents and ~1500 customer service agents across the country, including all our 3rd-party contract workers, have been mandated to work from home. This decision has been taken to minimize exposure not only to PhonePe employees and their families, but also for the health and safety of the merchant partners they visit.

    ·        Further, PhonePe is committed to paying all our employees and contractor workers, including the entire offline sales agents, their full salaries throughout the WFH policy. This decision has been taken to ensure that none of our employees and their families are adversely impacted, from a financial standpoint, while we all fight the scourge of coronavirus over the days and weeks to come.

    ·        This WFH policy is in effect till March 31st for now. We will review the situation next week, and extend the WFH policy if required.

    What this means for various stakeholders:

    1.      Customer Service: All our customer service teams across the country are mandatorily working from home, trying to ensure that they respond to customer issues speedily. However, since our call-center facilities have been shut down temporarily, response to call-based enquiries will be delayed. So we request all customers to log all their questions and concerns via the PhonePe app itself. Just click on the Help (?) icon on the app homepage, follow the menu and lodge your tickets please.

    2.      Merchant Assistance: Our offline merchant partners can reach out to our designated merchant helpdesk at merchant-desk@phonepe.com or via the ‘PhonePe for Business’ app 24×7 support for any issues. Additionally, the offline sales team members will be in touch with their associated merchants remotely and will be available on call to get any issues resolved.

    3.      New Hires: All new employees scheduled to join PhonePe this month are being inducted and onboarded remotely. We have a simple message for all new PhonePe_rs — “Do not worry! We are committed to your safety and can’t wait to get you started!”

    4.      Candidate Interviews: All interviews for potential new hires have been moved completely to video conferencing mode since March 12th. We will continue hiring and issuing new job offers during the WFH window.

    Steri-fumigation of all PhonePe offices: As a precautionary measure, we have also carried out steri-fumigation treatment for all our office facilities. We are also taking all other precautions in line with the recommendations of the medical fraternity, these include providing information on testing centres/hospitals and isolation wards, equipping people with hand hygiene products, etc.