Technology

TRANSPARENCY AROUND PHONEPE TRANSACTION DATA, MADE PUBLIC

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.

BRIEF

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.

PULSE REPORT

 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.

Also, Read| INDIA, THE UNSC AND THE CHANGING WORLD ORDER

Dhruv Vashisth

Dhruv Vashisth , is recently persuing his graduation in journalism and mass communication from Management Education and Research Institute affiliated to Guru Gobind Singh Indraprastha University . Dhruv is a Versatile content writer with a incandescence for readings and his area of engrossment in writing falls mostly on the topics of business, sports and entertainment. He is someone who is always excited in Researching new news stories and ideas and is good at managing Multiple priorities cheerfully. Find me on instagram:- _mr.vashisth Mail I'd:- dhruvvashisth007@gmail.com

Recent Posts

Sikkim’s Tshering Wangchuk Lepcha to Represent Sikkim at Prestigious U.S. Leadership Program

Sikkim's Youth Leader Tshering Wangchuk Lepcha has been selected to participate in a prestigious three-week…

1 month ago

Defence Minister Rajnath Singh to Visit Sikkim from October 10-12, Inaugurate Memorial for Fallen Soldiers

Pakyong, October 7: Defence Minister Rajnath Singh is scheduled to visit Sikkim from October 10-12,…

1 month ago

Sikkim CM Leads Push for Tribal Status for Marginalized Nepali Communities

Effort to address the long-standing demands of marginalized Nepali communities in Sikkim and West Bengal,…

2 months ago

Cabinet Grants Classical Language Status to Five New Languages

The Union Cabinet has conferred classical language status on five new languages – Marathi, Pali,…

2 months ago

Remembering Lt. Shri Nar Bahadur Bhandari on His 84th Birth Anniversary

Nar Bahadur Bhandari (5 October 1940 – 16 July 2017) served as the Chief Minister…

2 months ago

Swachhata Hi Seva-2024 Campaign at Mamley Fossil Park, Namchi, Sikkim

The Geological Survey of India (GSI), under the aegis of the Ministry of Mines, Government…

2 months ago