Tag: PhonePe

PhonePe emerges as the largest player on merchant UPI transactions

MUMBAI: PhonePe, India’s fastest growing digital payments platform today announced that it has emerged as the market leader, driving the highest number of merchant UPI transactions in August. PhonePe app drove 380+ Million transactions in August, with 90+ Million Offline transactions. This phenomenal growth is driven by PhonePe’s acceptance as a payment option across 65 lac Kirana and retail stores across 210+ cities in India.

Speaking on the milestone, Vivek Locheb, Head of Offline Business Development said, “Our interoperable QR code makes it easy & affordable for MSMEs across India to accept digital payments at zero MDR rates for mass retail kirana shops. As India’s largest transaction platform, we will continue working to digitally connect Indian consumers to local shops and service providers.”

PhonePe was the first payment player to launch the interoperable QR code. Today, the PhonePe QR code is deployed across 65 lakh merchant outlets across India. This PhonePe innovation has made it extremely simple (and free) for the neighborhood Kirana store to accept digital payments. Rather than having multiple QR codes, merchants just need to display one single QR code at their store front to accept digital payments through any Unified Payment Interface (UPI)-enabled app such as PhonePe, Paytm, Google Pay, BHIM etc.

PhonePe takes a partnership model and works very closely with all its merchants. PhonePe is helping merchants grow their business by enabling them to tap into its massive consumer platform, thereby driving more footfalls for the merchants. PhonePe had also launched the “PhonePe for Business” app last year to provide faster settlement and reconciliation for its merchant partners. The app has been downloaded by more than 42 lakh merchants across India.

September 5, 2019
PhonePe and Tata Sky partner to offer auto-debit payments

MUMBAI: PhonePe and Tata Sky have partnered to offer the ‘AutoPay’ feature to their users. This feature allows easy DTH recharges on Tata Sky for PhonePe consumers by facilitating automatic payments through a one-time mandate. The ‘AutoPay’ feature is an industry-first offering and creates a more convenient and seamless user experience

Once the ‘AutoPay’ feature is enabled, it ensures that a user’s TataSky account is automatically recharged three days before the due date every month. Consumers can also make modifications to the recharge amount or cancel the ‘AutoPay’ instruction at any time.

“At PhonePe, we are focused on building features that enhance the customer experience on our platform. The Auto-pay feature enables greater convenience and control to our users while making payments seamless. With AutoPay, Tata Sky subscribers are now able to enjoy uninterrupted viewing of their favourite programs without worrying about manually recharging their DTH every month.”- Said, Karthik Raghupathy, Vice President, Strategy and Business Development, PhonePe.

“AutoPay, a customer first initiative increases financing options, enables and empowers Tata Sky subscribers to do hassle free online recharge. We are pleased to partner with PhonePe for a service that will offer convenient access with enhanced flexibility, thereby making the payment process easy and simple to deal with.” added, Pallavi Puri, Chief Commercial Officer, Tata Sky

PhonePe is also offering new ‘AutoPay’ subscribers up to Rs.60 cashback, through 4 consecutive recharges – Flat Rs.10 cashback on the first and second recharge transaction, followed by a cashback of Rs.20 on the third and fourth transaction.

August 21, 2019
PhonePe clocks 335 Million transactions in July. Hits USD $95 Billion Annual TPV Runrate

MUMBAI: PhonePe, announced today that it has achieved an annual TPV (Total payment volume) run-rate of $95 billion while clocking 335 Million transactions in July. PhonePe’s TPV run-rate has grown nearly 5X in the past year, since crossing the $20Bn mark in June 2018. This phenomenal growth has come on the back of the exponential expansion of PhonePe’s merchant network, both online and offline.

PhonePe has invested aggressively on its marketing activities this year and was the official co-presenting sponsor for the TV broadcast of VIVO IPL 2019 and the Official co-presenting sponsor for the TV broadcast of ICC World Cup 2019.

Sameer Nigam, CEO and Founder PhonePe said, "We are thrilled by the rapid adoption of PhonePe services across India. Last month alone, the PhonePe app was used by 60 million users. This means one out of every 15 Indian adults used the PhonePe app in July. This is both very exciting and very humbling for our company which launched less than 3 years ago.”

August 2, 2019
Aamir Khan announced as PhonePe brand ambassador

MUMBAI: PhonePe, India’s fastest growing payments platform, today announced Bollywood superstar Aamir Khan as the face of its brand. PhonePe is also an official co-presenting sponsor for the television broadcast of VIVO IPL 2019 and will be launching a series of new TV ads featuring Aamir Khan during this season. Khan's presence in the TV ads and his mass appeal as a national icon will help PhonePe create awareness about the benefits of digital payments for users across India.

Commenting on the announcement PhonePe CEO and founder Sameer Nigam said, “Aamir Khan is among the world’s biggest superstars today. He is a highly renowned actor who is known for doing path-breaking work in his industry. In his personal capacity too, Aamir has been instrumental in creating awareness about many important social issues in India. His name is synonymous with sincerity, hard work, and dedication to his craft. These are values that are completely in sync with PhonePe’s ethos of trust, security, and reliability, therefore we felt that Aamir is the perfect brand ambassador for our company as we look to introduce Digital Payments to a billion Indians.”

“We are also very excited to be part of VIVO IPL 2019. Cricket is the most popular sport in the country and VIVO IPL is the biggest sporting event of the year. Thus, we feel it is a great platform for us to launch our new brand campaign with Aamir and create awareness about the PhonePe platform,” he added.

“PhonePe stands for innovation and trust and has been instrumental in simplifying digital payments for millions of Indians in a very short span of time. I have closely been following PhonePe’s amazing journey and am delighted to be a part of their phenomenal growth trajectory,” said Khan.

March 22, 2019
HUL top advertiser in BARC Week 50

MUMBAI: The Broadcast Audience Research Council (BARC) India has released its data for top advertisers and brands for the period between 8 December 2018 and 14 December 2018

The data is a reflection of top 10 advertiser and brands across genre on Indian television (U+R): 2+ Individuals demonstrating ads that were inserted the most in week 50 of 2018.

Top Advertisers:

Hindustan Unilever Ltd with 106157 ad insertions on television, remained the top advertiser in week 50 as well followed by Reckitt Benckiser Ltd, maker of Dettol, Veet, Durex condoms, Strepsils, Air Wick, Harpic, that had 58983 insertions.

ITC Ltd as well maintained its position from the previous week and stands third with 53309 insertions.

Procter & Gamble climbed up a rank from the last week and stands fourth with 34164 insertions. Pharmaceutical company SmithKline Beecham stands fifth with 28768 insertions.

Top Brands:

IBF became the top brand in week 50 of 2018 with 12436 insertions followed by Trivago with 12142 insertions. Mahindra SUV Range stands third with 11600 insertions.

PhonePe, the Indian financial technology company, has entered the list at the third position, making 11529 insertions in week 50. Dettol Toilet Soaps came in fifth with 11425 insertions.

December 23, 2018
ZEE5 and PhonePe join hands for an amazing cashback offer

MUMBAI: ZEE5, India’s largest multilingual entertainment destination, and PhonePe – India's fastest growing digital payments app have partnered to announce exciting offers on content for customers.

Value add fromPhonePe

• Flat 50% cashback to customers who wish to subscribe ZEE5 (valid once per user)
• The offer is valid only for 7 days starting 18th October

Subscription Price   Offer Price after cashback
Rs.99 for two months   Rs.45 for two months
Rs.499 for twelve months   Rs.250 for twelve months

Manish Aggarwal, Business Head, ZEE5 India, said, “The consumer is at the center of everything we do; hence associations and affiliations are key as they offer thema range of choice.PhonePe is amongst the most preferred digital payments app and a 50% cashbackfor those who subscribe to ZEE5 is definitely a fantastic offer. This is a clear win-win for both – the PhonePe consumer as well as ours. We will continue to work with leaders in the space, giving our consumers the best offers, always.”

Ankit Gaur, Head Strategic Distribution Partnerships,PhonePecommented, “PhonePe hasrevolutionized digital payments in India making them seamless, convenient and easy. ZEE5 is seen as a popular OTT platform amongst the youth and this is a great opportunity for us to get associated with it. We are excited about the potential of this partnership and look forward to working with ZEE5 to provide our millennial users access to rich content at very competitive price points.”

With over 3500 films, 500+ TV shows, 4000+ music videos, 35+ theatre plays and 90+ LIVE TV Channels across 12 languages, ZEE5 truly presents a blend of unrivalled content offering for its viewers across the nation. With ZEE5, the global content of Zindagi as a brand, which was widely appreciated across the country, has also been brought back for its loyal viewers.

October 19, 2018
PhonePe acquires PoS platform Zopper

MUMBAI: Flipkart-owned digital payments platform PhonePe, yesterday, announced that it has acquired Zopper Retail, a hyperlocal point-of-sale platform for small and medium businesses. As part of the acquisition, Neeraj Jain, founder-CEO, Zopper will join the PhonePe team as head of product, offline merchant solutions.

The acquisition of Zopper is part of PhonePe’s aggressive strategy to build its offline payments business and thereby expand its customer base. With this acquisition, the Flipkart-owned digital payments company will hope to merge the value-added service capabilities of Zopper into its platform, thereby strengthening its offline proposition for merchants.

“Zopper has a very strong technology and innovation DNA, and Neeraj and team are also a great culture fit for PhonePe. Zopper Retail is specifically designed to meet the needs of millions of small retailers in India, and their strategy ties in very well with our overall vision of making digital payments universally accepted across the country,” said PhonePe CEO Sameer Nigam as quoted by Inc 42.

Flipkart’s co-founders Binny Bansal and Sachin Bansal had also made angel investments in Zopper in 2012. Founded in 2010, Zopper was initially a community-based product review site which then pivoted into a hyperlocal e-commerce site. In 2015-16, Zopper pivoted again and split its business into two distinct divisions – a Point of Sale (Pos) platform for offline merchants (Zopper Retail) and an extended warranty solutions unit for electronics purchased at offline outlets (Zopper Assure).

Last year, Flipkart made a commitment that it will invest $500 million in PhonePe to fight off competition. The acquisition will help the firm in the intensely competitive payments platform segment. Amongst its biggest competitors are India’s biggest payment company Paytm and Google’s Tez.

July 17, 2018
Ola partners with PhonePe for cab bookings

MUMBAI: Flipkart-owned UPI-based payment platform PhonePe has partnered with taxi aggregator Ola. With this tie-up, users will be able to book an Ola cab using the PhonePe app.

With both the companies already catering to a large user base, this also becomes the first large scale implementation of AutoPay (through standing instructions) for ride bookings in India.

Phone Pe co-founder and CTO Rahul Chari says, “With this partnership our users can enjoy the ease of using their preferred ride sharing app from within PhonePe while being assured of the reliability and integrity of their payments. Ola’s scale and reach, topped with our Auto-pay feature will enable greater convenience and control to our users while making payments seamless.”

Ola co-founder and CTO Ankit Bhati thinks that duch partnerships drive the vision of Digital India, getting more users to experience the benefits of online services.

The Ola micro-app is also a big technology milestone for PhonePe as it has been built ground-up by the PhonePe team using the Ola developer platform. It is the first of its kind mapping application using react native that provides not just location but navigation with directionality, matching the experience of native iOS and Android maps.

This partnership is part of PhonePe’s vision of being an open payments ecosystem, enabling businesses of all sizes to build and deploy apps on its platform with a unified login and payments experience for its users.

PhonePe is also adding partners in the travel, hospitality, ticketing and food segments to its micro-app platform.

June 15, 2018