Tag: PhonePe

  • PhonePe becomes the first digital payments platform to launch one-click payment with Visa

    PhonePe becomes the first digital payments platform to launch one-click payment with Visa

    Bengaluru: PhonePe today announced that it has become the first digital payments platform to launch Visa Safe Click, a secure and hassle-free, one-click card payment feature on its platform in partnership with Visa, the global leader in payments technology. In line with RBI’s regulations that allow card networks to authenticate transactions up to Rs. 2000, this launch will enable Visa debit and credit cardholders to make quick, frictionless payments on the PhonePe platform. Visa Safe Click will help enrolled users make secure payments for amounts up to INR 2,000 without having to enter an OTP or CVV.

    Users with Visa debit or credit cards will have the option on the PhonePe app to activate the new payment feature through a one-time validation process to register their card. Users can then carry out transactions on recharges, bill payments, switch platform and many more use cases on the PhonePe app without having to enter an OTP or CVV for every subsequent transaction.

    Speaking on the launch, Hemant Gala, VP – Payments & Financial Services, PhonePe said, “PhonePe is one of the largest payment platforms in India and it's been our constant endeavour to launch seamless payment solutions to simplify users' payment journeys. With millions of Visa cards saved on the PhonePe platform, the launch of ‘Visa Safe Click’ will help our customers experience single click seamless payments on the PhonePe app and at our merchant partners. We expect PhonePe’s network of over 10 million merchants to benefit from higher success rates and faster turn-around times with this one-click payment experience.”

    Commenting on the launch, Shailesh Paul, Head of Merchant Sales & Acquiring, India and South Asia, India and South Asia, Visa said, “Indian customers are increasingly turning to purchase goods and services online, driving e-commerce to reach $225 billion (estimated) by 2022 and platforms such as PhonePe help drive this convenience. World over, this kind of growth is enabled when e-commerce is made secure and friction-free and Visa Safe Click aims to make the e-commerce payment experience faster, frictionless and secure. We’re excited to enable quicker and safer payments for Visa users on the PhonePe app, improving the customer experience and providing users more time to explore the app.”

  • PhonePe’s transaction and traffic numbers bounce back to normal

    PhonePe’s transaction and traffic numbers bounce back to normal

    MUMBAI: Digital payments platform PhonePe today said it has bounced back hard in the last 24 hours. The platform processed over Rs 4000 crore worth of transactions in 24 hours and saw its largest-ever volume of user traffic in a single day (with over 70Mn app sessions).

    PhonePe saw an extended service outage, which started immediately after the RBI moratorium on Yes Bank on March 5th (Thursday) lasting for nearly 24 hours till 6 March (Friday). The PhonePe team worked overnight with NPCI and ICICI bank, its new UPI partner to ensure all its services were up and running within a day. All merchant payment settlements were restored by Friday noon and all consumer wallet, credit, and debit card payments were restored by 3 p.m.  All UPI services were restored by Friday night, with PhonePe users continuing to use their UPI @ybl handles. This ensured that there was a seamless transition for all of its 20 crore customers

    PhonePe founder-CEO Sameer Nigam said: “Friday was an extraordinarily difficult situation with little precedence. We are grateful to RBI, NPCI, Yes Bank and ICICI for working collectively to ensure that millions of our customers and merchants were not inconvenienced a minute longer than necessary. The trust and loyalty of our customers and merchant partners have reposed in us by coming back in larger numbers than ever before is truly humbling. I would also like to take a moment to appreciate the mammoth effort of all the PhonePe employees who worked tirelessly for 36 hours straight with a singular focus on getting all our customer and merchant services live as fast as possible.”

  • PhonePe’s transaction and traffic numbers bounce back to normal

    PhonePe’s transaction and traffic numbers bounce back to normal

    MUMBAI: Digital payments platform PhonePe today said it has bounced back hard in the last 24 hours. The platform processed over Rs 4000 crore worth of transactions in 24 hours and saw its largest-ever volume of user traffic in a single day (with over 70Mn app sessions).

    PhonePe saw an extended service outage, which started immediately after the RBI moratorium on Yes Bank on March 5th (Thursday) lasting for nearly 24 hours till 6 March (Friday). The PhonePe team worked overnight with NPCI and ICICI bank, its new UPI partner to ensure all its services were up and running within a day. All merchant payment settlements were restored by Friday noon and all consumer wallet, credit, and debit card payments were restored by 3 p.m.  All UPI services were restored by Friday night, with PhonePe users continuing to use their UPI @ybl handles. This ensured that there was a seamless transition for all of its 20 crore customers

    PhonePe founder-CEO Sameer Nigam said: “Friday was an extraordinarily difficult situation with little precedence. We are grateful to RBI, NPCI, Yes Bank and ICICI for working collectively to ensure that millions of our customers and merchants were not inconvenienced a minute longer than necessary. The trust and loyalty of our customers and merchant partners have reposed in us by coming back in larger numbers than ever before is truly humbling. I would also like to take a moment to appreciate the mammoth effort of all the PhonePe employees who worked tirelessly for 36 hours straight with a singular focus on getting all our customer and merchant services live as fast as possible.”

  • IPL 2020: From the brands’ lens

    IPL 2020: From the brands’ lens

    MUMBAI: For audiences and TV viewers, the Indian Premier League (IPL) is all about the action on the field – the ball being belted for fours and sixes on all sides of the pitch. The leather striking the stumps with the bails being lit up as they leap up in the air. The superhuman lunge that lands the ball in the fielder’s hand. The IPL is about the edge-of-the-seat finishes to the matches. That’s what viewers thrive on; that’s what they can’t get enough of.

    But there’s a lot that goes on behind the scenes to make the IPL a possibility every year. Humungous amounts have been invested to acquire the rights. And who is it that helps the broadcaster recover the investment? It is the brands that consumers so desire and lap up in the supermarkets and kiranawala stores.

    For brands, it is all about that standout moment throughout the tournament so that the investment turns out as money well spent. IPL has transformed cricket and it has seen a noticeable increase in family viewing. It has also democratised sports as a medium for advertisers. An FMCG brand like Fortune has come on board as a broadcast associate sponsor while there is a notion that these brands don’t look at sports traditionally.

    Adani Wilmar Ltd media & strategy head Sanjay Adesara denies the claim that FMCGs do not consider sports as a crucial part of their communication mix and media plan. According to him, FMCG brands have been putting their ad dollars in premium sports events like the World Cup or the IPL for long now. And he adds that the percentage has only been increasing year-on-year.

    “Now, you cannot consider IPL as a cricketing event only. For the Indian households, IPL has become an entertainment show. It’s a short-format of cricket T-20; entertainment happens around IPL. IPL as a property or event transcends genders and markets. It reaches out to both males and females. IPL is a perfect platform to launch any new communication, positioning or campaign. Currently, we have revamped our brand, look and feel. We will capitalise on IPL as an event,” he says.

    Asian Paints, which has possibly hopped on to the IPL sponsorship bandwagon for the umpteenth time, is a die-hard fan of the format. Asian Paints COO Amit Syngle expresses that it is associating with the league once again as it wants to create mass appeal for the brand. “It cuts across genders, age group. Brand association plays a critical role in influencing consumers’ purchase decisions. Not only does it make a memorable impression on consumers, but it also allows customers to connect with the brand and the company,” he adds.

    Considerably, IPL 2019 brought more viewers across age groups and genders to television.  The twelfth edition of the IPL saw the highest growth of viewership among kids (2-14 years), an increase of 25 per cent compared to the last session. Even female viewership grew by 14 per cent during the last year.

    IPL has acted as the ideal platform to launch new communications as well as products. Fortune has recently launched a brand new logo and a wide range of product offerings and featured Akshay Kumar in its TVCs. As the 1999-born brand revamps its identity, Adesara admits that recent activities are co-related.

    “In the past four-five years, Fortune has expanded beyond edible oils which is into basmati rice, atta, soya, nuggets. We have also upgraded our local feel. We are establishing the fact that Fortune is no more an edible oil company or a brand. It’s a range of food products which are available. The new campaign and entire activity is a continuation,” he comments.

    “We believe our association with IPL has helped us to engage and connect with consumers in a great way in tier 2 and 3 markets and develop omnipresence for the brand. Our prime objective with this association was to create several effective touch points to attain maximum reach, generate top-of- mind recall and strengthen the brand image,” Asian Paint’s Syngle adds.

    PhonePe, the digital payment startup which raised Rs 743.5 crore fresh funding from Walmart before the last IPL, is now a second-time sponsor of the league. A PhonePe spokesperson says that the focus of last year’s brand campaign was on building awareness around digital payments for both rural and urban audiences. A mass media platform such as TV offered it the perfect opportunity to do so as it is the medium with the largest reach in the country.

    “We have continued the association this year as well. We are the official co-presenting sponsor for the television broadcast of VIVO IPL 2020 and will be launching a series of TV ads during this IPL season. Alia Bhatt has joined Aamir Khan as our brand ambassadors this year,” the spokesperson adds.

    Fortune’s Adesara says width and depth are the strength of IPL. According to him, one can expect both. In past seasons also, IPL has delivered reach but he mentions that the addition of regional feeds has strengthened the reach more. IPL is a great property to associate with. 

    It seems Star’s bet on regionalisation has paid rich dividends for the broadcaster. Last year, there were dedicated Telugu, Kannada and Bangla sports channels for matches. According to BARC data, while viewing minutes in Hindi increased by 18 per cent, other regional languages including Tamil, Telugu,  Malayalam, Kannada, Bengali and Marathi saw 10 per cent growth.

    The PhonePe spokesperson points out that customer acquisition and brand recall among the target audience are a few of the metrics that it looks at while measuring the effectiveness of the association and the brand campaign.

    “We aim to grow the pie of digital transactors in the country, especially from tier 2 and 3 markets and beyond. We aim to drive greater awareness and preference for PhonePe's features and services. The key theme will be to catalyse progress for everyone through our brand platform of 'Karte Ja. Badhte Ja',” the spokesperson adds. PhonePe has earmarked Rs 800 crore for marketing in this calendar year. It can be predicted that a major chunk of it will go for IPL as it has already roped in a B-town brand ambassador and will launch many TVCs during the tournament.

    While Asian Paints also has an association with KKR, it plans to boost the brand presence with consumers across key markets like West Bengal. With the growing popularity of the IPL especially on digital, the brand also intends to continue its strategy with regards to shorter edits and higher frequency of spots along with content partnerships to maximise the reach. With IPL 2020, Asian Paints seeks to further boost visibility for its key brands, in addition to enhancing mind recall among consumers, Syngle adds.

    Last year, along with regular advertisements, brands relied on innovative communication strategies to drive more engagement. With the spectacle of cricket, we can hope to see new types of marketing campaigns too from 29 March.

  • PhonePe launches “Karte Ja. Badhte Ja.” with Aamir Khan and Alia Bhatt

    PhonePe launches “Karte Ja. Badhte Ja.” with Aamir Khan and Alia Bhatt

    MUMBAI: PhonePe, India’s leading digital payments platform today announced the launch of its new brand campaign “Karte Ja. Badhte Ja.” featuring Bollywood superstars Aamir Khan and Alia Bhatt.  PhonePe is also the official co-presenting sponsor for the television broadcast of VIVO IPL 2020, and will be launching a series of TV ads during this IPL season. The five-week brand campaign is centered around PhonePe’s new Tagline “Karte Ja. Badhte Ja.” and reflects the role played by the company in India’s progress by catering to the varied aspirations and needs of its 20 crore users across the country. The campaign showcases fast transactions, convenient payment modes, simpler investment options, the Switch platform providing one-click access to over 100+ apps and PhonePe’s wide acceptance at over 10 million offline shops.  

    Commenting on the announcement, PhonePe founder and CEO Sameer Nigam said, “From small villages to busy metros, Indians are striving to progress and prosper. We see our platform as a trusted partner to those billion aspirations, bridging the digital divide and empowering Indians to transact conveniently and securely and aspire to do more and move ahead in life, one transaction at a time. Our vision is to liberate the flow of money and services so that everyone can unlock opportunities to progress at pace. Crafted with this belief, our new brand campaign is a reflection of everyday stories of progress with PhonePe. We are also excited to have Aamir Khan and Alia Bhatt as the face of our brand as they are a powerhouse of talent and appeal to Indians across the country. They are both inspiring and bold and personify values like integrity and trust that strongly resonate with the PhonePe brand.”   

    Speaking on his continued association with PhonePe, Aamir Khan said, “PhonePe continues to innovate, grow and make digital payments and services safe and easy for millions of Indians. I am delighted to be a part of their amazing journey”

    PhonePe is also the official broadcast sponsor of VIVO IPL 2020. This is the second year in a row when the company has partnered with VIVO IPL which continues to be the biggest sporting event of the year in India. 

    The current brand campaign will feature four TV commercials with Aamir and Alia, which will be spread across digital platforms, radio, print and cinema. 

  • ‘Flipkart Pay Later’ now available on PhonePe

    ‘Flipkart Pay Later’ now available on PhonePe

    MUMBAI: PhonePe, India’s leading digital payments platform, and Flipkart, India’s homegrown e-commerce marketplace, today announced the launch of Flipkart’s Pay Later facility on the PhonePe platform. Payments through the Flipkart Pay Later solution can be completed in a single click, making it a fast and convenient payment option for PhonePe users. While transacting on PhonePe, users can now choose the Flipkart Pay Later credit option on the app and clear their dues through one single payment by the 10th of the next month, at no extra cost.

    Launched by Flipkart in 2017, Flipkart Pay Later is a revolutionary customer focused credit instrument that makes shopping more convenient and affordable for millions of consumers across India. The solution allows consumers to shop for small ticket items up to INR 5,000 through a single click payment on the platform, without waiting to generate an OTP.

    Pre-approved Flipkart users can register for this option on the Flipkart app/site and then activate the Flipkart Pay Later option inside the ‘My Money’ section on PhonePe. With this launch, PhonePe aims to provide users access to a convenient way to pay on the app and at millions of merchants operating on the PhonePe network.

    Commenting on the launch, Deep Agrawal, Head of Payments, PhonePe, said, “We are excited to launch Flipkart Pay Later on the PhonePe platform. PhonePe has always endeavoured to provide consumers with the power to choose the payment instrument of their choice. Flipkart Pay Later is a great way for eligible users to transact safely and conveniently on the PhonePe app. PhonePe is the largest payments platform in the country and we are committed to creating wide-ranging payment options on the platform.”

    Smrithi Ravichandran, Business Head, Fintech & Payments Group, Flipkart, said, “At Flipkart, we put customers at the heart of all our innovation and PayLater is one such initiative. We have been very encouraged to see the wide acceptance of our in-house innovation ‘Flipkart Pay Later’ by our users. After successful adoption of this payment solution on our website/app, we believe this is the right time to share synergies between the group companies and bring this customer-focused solution on PhonePe which is leading the digital payments market in India.”

    Flipkart Pay Later is currently enabled on Myntra and PhonePe.

  • PhonePe launches a new Savings Product to help Indians earn more

    PhonePe launches a new Savings Product to help Indians earn more

    Mumbai: PhonePe, India’s leading digital payments platform today announced the launch of a new savings product ‘Liquid Fund’ on its app. The all-digital product will help over 175 million PhonePe users grow their savings by earning higher short term FD-like returns with the ease and liquidity of a Savings Account.  

    Users can begin saving with as low as Rs.500/- in a completely secure and paperless process in less than 5 minutes. Liquid Funds are the best way for new users to experience Mutual Funds as the money is invested in safer instruments such as bank and government securities. Customers can withdraw their money instantly – anytime and from anywhere*. There is no lock-in period and the customer does not have to maintain a minimum balance. The best part is that customers can watch their money grow every day.

    With this launch, PhonePe is taking large strides towards its goal of expanding awareness and adoption of Financial Services products in India. PhonePe aims to achieve this by creating simple products and offerings that are intuitive for customers to understand and easy to apply for. PhonePe’s Liquid Fund product is targeted at users across India including those from smaller towns and cities, who have never experienced solutions beyond Savings Accounts. PhonePe already sees over 56% of its transactions from Tier 2 and Tier 3 cities.    

    Speaking on the launch, Terence Lucien, Head of Mutual Funds, PhonePe, said, “This is our second product in the Mutual Funds space after Tax Saving Funds where we have created a completely digital investment flow for our users. Liquid Funds will allow millions of our users to earn higher returns on their savings with the ability to withdraw their money instantly 24×7*. We will continue to add more such financial solutions for our users to manage their money and fulfill their life aspirations in a better way.”

  • PhonePe recognized among India’s best workplaces by the Great Place to Work Institute

    PhonePe recognized among India’s best workplaces by the Great Place to Work Institute

    Bengaluru: PhonePe, India’s leading digital payments platform today announced that it has been recognized among the country’s top workplaces in the Technology sector by the Great Place to Work Institute. The survey is India’s largest annual study of workplace excellence based on employee feedback and also includes a rigorous assessment process by the Great Place to Work Institute. The Great Place to Work certification is considered as the ‘Gold Standard’ in workplace culture assessment and recognition.

    This year, more than 800 organizations applied to the Great Place to Work Institute to undertake the assessment, making it the largest study in the space of workplace recognition. The study identified the best companies to work across 20+ industries. In the Technology sector, Great Place to Work assessed nearly 200 organizations, and recognised PhonePe among India’s best workplaces in this sector.

    Commenting on the development, Manmeet Sandhu, Chief People Officer, PhonePe said, "We are delighted to be recognized among India’s best workplaces. We strive to provide employees with a rich learning experience where they get to solve a variety of business problems right from day 1. Our flat structure and cross functional pods enable employees to understand the wider organisational context empowering them to own a wide variety of solutions. The scale and speed of growth gives people the opportunity to  solve several large-scale & highly complex problems. At PhonePe, we are building payment solutions that are positively impacting the lives of hundreds of millions of Indians. We have been able to super charge this growth by hiring and retaining the best talent in the country. We will continue to invest in our people and culture to build a great company and provide our employees with rewarding careers.”

    PhonePe continually strives to provide a thriving, dynamic work environment for its employees to perform and grow. The company has developed several programs for individual learning and development and also hosts fortnightly learning sessions where employees share their knowledge and skills with their colleagues on a variety of topics not strictly confined to their area of work (ranges from new technology to painting, from presentation skills to making your own aquarium).

  • PhonePe goes live across over 1 mn offline stores in Delhi-NCR

    PhonePe goes live across over 1 mn offline stores in Delhi-NCR

    MUMBAI: PhonePe, India’s fastest growing payments platform announced that it is now live as a payment option across 1 million offline merchant outlets in Delhi-NCR. This milestone reflects PhonePe’s phenomenal acceptance across large organised retail stores as well as small and mid-size retail stores in the region.

    Speaking on reaching this milestone, PhonePe head – offline business growth Yuvraj Singh Shekhawat said, “Our offline business has seen phenomenal traction in the last one year in Delhi-NCR and customers can now transact seamlessly using PhonePe at both small Kirana stores and larger retail outlets. The entire payments process on PhonePe is extremely fast and seamless ensuring consumers have a convenient experience. We are now live at most organised retail outlets across grocery, fuel, medicines and account for 6 -10 per cent of all non-cash transactions.”

    Head – offline business development Vivek Lohcheb added, “We are excited to reach this important milestone in Delhi-NCR. PhonePe has always adopted a partnership model with all its merchants and gone beyond being just a payments service provider. PhonePe's QR allows merchants to accept consumer payments from any UPI app and not just PhonePe alone. For the merchants, this makes the digital payment acceptance process simple and reconciliations seamless. All a merchant needs is a feature phone to get started. We also provide them with visibility on our app where over 150 million users can discover merchants in the vicinity that accept PhonePe, effectively increasing footfalls to their business.”

    PhonePe has been rapidly expanding its reach across India and today it has a presence in 150+ cities in India. PhonePe continues to expand into newer geographies enabling even local kiranas to accept payments from consumers through digital payment mediums like UPI, Credit Cards, Debit Cards and Wallets.

    PhonePe recently introduced a ‘Stores' tab on the app enabling hyper-local discovery of partner merchants for users. Keeping in mind the daily working capital requirements of merchants PhonePe offers instant settlements along with zero processing fee on UPI transactions. PhonePe has a merchant app as well that facilitates end-to-end control on the payment process for merchants including transaction confirmation and reconciliation.

  • PhonePe goes live across over 1 million offline stores in Delhi-NCR

    PhonePe goes live across over 1 million offline stores in Delhi-NCR

    MUMBAI: PhonePe, India’s fastest growing payments platform today announced that it is now live as a payment option across 1 million offline merchant outlets in Delhi-NCR. This milestone reflects PhonePe’s phenomenal acceptance across large organised retail stores as well as small and mid-size retail stores in the region.

    Speaking on reaching this milestone, Yuvraj Singh Shekhawat, Head – Offline Business Growth, PhonePe, said, “Our offline business has seen phenomenal traction in the last one year in Delhi-NCR and customers can now transact seamlessly using PhonePe at both small Kirana stores and larger retail outlets. The entire payments process on PhonePe is extremely fast and seamless ensuring consumers have a convenient experience. We are now live at most organised retail outlets across grocery, fuel, medicines and account for 6 -10% of all non-cash transactions.”

    Vivek Lohcheb, Head – Offline Business Development added, “We are excited to reach this important milestone in Delhi-NCR. PhonePe has always adopted a partnership model with all its merchants and gone beyond being just a payments service provider. PhonePe's QR allows merchants to accept consumer payments from any UPI app and not just PhonePe alone. For the merchants, this makes the digital payment acceptance process simple and reconciliations seamless. All a merchant needs is a feature phone to get started. We also provide them with visibility on our app where over 150 million users can discover merchants in the vicinity that accept PhonePe, effectively increasing footfalls to their business.”

    PhonePe has been rapidly expanding its reach across India and today it has a presence in 150+ cities in India. PhonePe continues to expand into newer geographies enabling even local kiranas to accept payments from consumers through digital payment mediums like UPI, Credit Cards, Debit Cards and Wallets.

    PhonePe recently introduced a ‘Stores' tab on the app enabling hyper-local discovery of partner merchants for users. Keeping in mind the daily working capital requirements of merchants PhonePe offers instant settlements along with zero processing fee on UPI transactions. PhonePe has a merchant app as well that facilitates end-to-end control on the payment process for merchants including transaction confirmation and reconciliation.

    Some of the key offline merchants across Delhi – NCR that today accept payments using diverse PhonePe solutions are:

    Groceries

    Spencers, Raj Mandir, Honey Money Top Retail, MunafaMart, Modern Bazaar

    F&B

    CCD, KFC, Pizza Hut, Nazeer Foods, Biryani Blues, Emoi, Kebab Xpress, The Beer Café

    Healthcare & Wellness

    ApolloPharmacy,, Cut & Style, Hair Masters, Healthskool Pharmacy, Guardian Pharmacy, House of diagnostics

    Retail

    Woodland, Bata, Pantaloons, Clear Dekho, Vega, Indya By Faballey, Vega

    Others

    Croma