Tagged: PhonePe

August 27, 2024 @ 10:11 pm By Omar Faridi  |  

The PhonePe Group reported revenue of INR 5064 Cr for FY23-24 (fiscal year ending March 31, 2024) which represents 74% top-line growth from FY22-23 revenue of INR 2914 Cr. The Group also reported “an Adjusted Profit After Tax (i.e., PAT excluding ESOP costs) of INR… Read More

August 24, 2024 @ 7:46 pm By Omar Faridi  |  

PhonePe announced the launch of Credit Line on UPI on its platform. Consumers who avail credit lines from their banks “can now link these credit lines to UPI on PhonePe and seamlessly make merchant payments.” This feature enables consumers to “make purchases with ease across millions… Read More

August 9, 2024 @ 11:12 am By Omar Faridi  |  

PhonePe announced the launch of a ‘pre-approved term life insurance’ feature on its platform. The feature aims to make insurance coverage more “accessible and affordable for millions of Indians by waiving the requirement for proof of income at the time of policy purchase.” With this launch,… Read More

June 5, 2024 @ 6:07 am By Omar Faridi  |  

PhonePe expanded its loan distribution offerings with the launch of secured lending products on its platform. Partnering with a network of trusted banks, non-banking financial companies (NBFCs) and fintechs, PhonePe armed “with its distribution strength of 535+ Million registered users, aims to create a powerful and… Read More

May 17, 2024 @ 8:54 pm By Omar Faridi  |  

PhonePe announced that it has enabled UPI payment acceptance in collaboration with LankaPay across LankaQR merchant points at a session held in Colombo. The session saw participation from Shri Santosh Jha, the High Commissioner of India to Sri Lanka, as the Chief Guest, who highlighted… Read More

April 15, 2024 @ 7:51 pm By Omar Faridi  |  

PhonePe announced that it has partnered with e-Sewa and the Hotel Association of Nepal (HAN) Pokhara to popularize UPI on the Fonepay Network, as a part of the Fewa New Year Festival which will be held from April 11-14th. The New Year festival is not… Read More

April 7, 2024 @ 9:40 am By Omar Faridi  |  

PhonePe announced a partnership with Star Health and Allied Insurance Company Ltd., which claims to be India’s largest retail health insurance Company, to offer customers health insurance with a monthly and annual payment option. With this partnership, PhonePe users will now “be able to avail… Read More

February 22, 2024 @ 6:53 pm By Omar Faridi  |  

PhonePe announced the consumer launch of its Indus Appstore, at Bharat Mandapam in New Delhi. Indus Appstore is PhonePe’s attempt at creating “a more competitive and localized mobile app store economy for India, which is already the largest mobile apps download market globally.” The session… Read More

December 23, 2023 @ 4:12 am By Omar Faridi  |  

PhonePe announced the launch of a new ‘Credit’ section on its platform. The new section will allow users “to view their credit bureau score without any additional cost, conveniently manage their credit/ Rupay cards and repay loans and credit card bills.” The Credit bureau report also… Read More

November 9, 2023 @ 10:50 pm By Omar Faridi  |  

PhonePe recently announced that it has crossed 500 million lifetime registered users on its platform. With this milestone, 1 in 3 Indians are now on PhonePe, the Fintech firm claims. The company is the first Indian Internet company to “have reached this scale globally.” This… Read More

September 26, 2023 @ 10:52 pm By Omar Faridi  |  

PhonePe announced the launch of the Indus Appstore Developer Platform. With this launch, Indus Appstore is inviting all Android app developers to register and upload their apps using the self-serve developer platform. These apps will be listed on the soon to be launched “Made-in-India” Indus… Read More

September 2, 2023 @ 10:07 am By Omar Faridi  |  

PhonePe announced its foray into stock broking with Share(dot)Market, under its subsidiary PhonePe Wealth Broking Pvt. Ltd. Share(dot)Market elevates discount broking by “providing market intelligence, quantitative research-based WealthBaskets, a scalable technology platform, and great customer experience for investors and traders alike.” Share(dot)Market is available as… Read More

August 31, 2023 @ 6:27 pm By Michael Wong  |  

PhonePe, an India-based digital payments and financial services firm, announced its entry into the stock broking industry with the launch of Share(dot)Market. The new platform comes under its subsidiary, PhonePe Wealth Broking Pvt. Ltd. Share(dot)Market aims to redefine discount broking by offering a suite of… Read More

July 10, 2023 @ 7:01 pm By Omar Faridi  |  

PhonePe announced the launch of its Point-of-sale (POS) device that enables merchants to accept payments via Debit Cards, Credit Cards and UPI, providing them with a simple and seamless settlement experience. The device comes preloaded “with the PhonePe POS App and supports transactions through tap/swipe/dip and… Read More

June 7, 2023 @ 6:56 pm By Omar Faridi  |  

PhonePe Group, which recently received the NBFC-AA license from RBI, announced the launch of its Account Aggregator (AA) services through its wholly-owned subsidiary PhonePe Technology Services Pvt Ltd (PTSPL). PTSPL’s Account Aggregator service “will allow Indian consumers to consent to and share all their financial… Read More

March 17, 2023 @ 8:59 am By Omar Faridi  |  

PhonePe, one of India’s largest Fintech platforms, announced it has raised an additional $200 million in primary capital from Walmart, at a pre-money valuation of $12 billion. This new funding reportedly comes as “a part of PhonePe’s ongoing fundraise of up to $1 billion in… Read More

February 19, 2023 @ 10:51 pm By Omar Faridi  |  

PhonePe, one of India’s largest Fintech platforms, announced it has raised another $100 million in primary capital from Ribbit Capital, Tiger Global, and TVS Capital Funds, at a pre-money valuation of $12 billion. This new investment “follows the recent $350 million primary fundraise that closed… Read More

January 24, 2023 @ 9:40 pm By Omar Faridi  |  

PhonePe, one of India’s largest Fintech platforms, announced it has raised $350 million in funding from General Atlantic, a global growth equity firm, at a pre-money valuation of $12 billion. Marquee Global and Indian investors are also participating in the investment round. The investment marks… Read More

September 7, 2021 @ 7:39 pm By Omar Faridi  |  

India-based PhonePe, a leading Fintech platform that now claims 300 millions users, reveals that it has introduced PhonePe Pulse, which is an interactive website with data, insights and key trends on virtual payments. The PhonePe Pulse website reportedly features millions of transactions made by clients on… Read More

September 5, 2021 @ 11:15 am By Omar Faridi  |  

Rahul Chari, CTO and Co-Founder at PhonePe, one of India’s leading payments app providers, recently confirmed that they’ve onboarded 300 million users after launching operations around 5 years back. Chari writes in a blog post that they launched the PhonePe app on August 28, 2016… Read More