ABOUT THE COMPANY
The PhonePe company is based in Bangalore, India, and offers digital payments and financial services. PhonePe founded by Sameer Nigam, Rahul Chari, and Burzin Engineer in December 2015. A mobile application based on the United Payments Interface (UPI) launched in August 2016 by PhonePe. In August 2014, PhonePe authorized by the Reserve Bank of India to issue and operate a semi-closed pre-paid payment system with Authorization Number: 75/2014.
In an announcement titled “PhonePe Pulse”, the company announced its interactive website that offers insight and trends on digital payments in the country. An interactive map of India on the website shows more than 2,000 Cr transactions by consumers, according to the fintech unicorn. Since the outbreak of the pandemic, UPI transaction in India has increased. NPCI data shows that UPI transactions in India grew 9.5% by volume and 5.4% by value over the previous month in August 2021. With over 45% market share of the UPI segment in India, PhonePe claims its data represents the country’s digital payment habits.
In addition, unicorn has released ‘Pulse Report’, a study that examines the evolution of digital payments over the past five years. The report describes how digital payment adoption has progressed across India since 2016 and includes detailed information on geographical and category trends.
Above all, content in the Pulse Report includes digital payments landscape in India, fintech journey, digital payments use cases, opportunity for growth, future of digital payments and more.
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