#PhonePe 230 million registered users

[sanjana-s]

PhonePe Users Can Pay Via UPI In Singapore

The Singapore Tourism Board (STB) and PhonePe's International Payments Business signed a Memorandum of Understanding (MoU). This collaboration enhances the existing UPI linkage between India and Singapore, allowing customers to make cross-border transactions between the two countries from their Indian bank accounts instantly. PhonePe and STB will invest in combined marketing campaigns in Singapore and India as part of their partnership. PhonePe, owned by Walmart, has over 520 million registered users and a network of over 38 million merchants for digital payments. It manages more than 230 million transactions every day, with an annual total payment value (TPV) of more than $1.5 trillion. Since its launch in 2016, PhonePe has expanded into financial services (Insurance, Lending, Wealth) and new consumer tech businesses (Pin code – hyperlocal e-commerce and Indus App Store – India’s first localized App Store). In February 2023, PhonePe introduced support for cross-border UPI payments, known as UPI International, enabling users to make payments in foreign currencies directly from their bank accounts, similar to international debit cards. NPCI International Payments Limited launched UPI International to enable UPI transactions for the Indian diaspora living overseas. To expand UPI's reach beyond Singapore, NPCI has also inked agreements with a number of nations, including France, Nepal, Sri Lanka, and the United Arab Emirates. In India, UPI transactions increased by 11% month-on-month to 13.44 billion in March 2024 from 12.10 billion. Year-on-year, transactions surged by 55% from 8.7 billion. According to NPCI’s data, the transaction volume in March stood at INR 19.78 lakh crore, up 8% from February’s INR 18.28 lakh crore, and 40% from INR 14.1 lakh crore in the same month last year. NPCI and the government have taken several steps to promote UPI, including adding new features and launching services like UPI Lite, credit lines on UPI, UPI LITE X and Tap & Pay, Hello! UPI, and BillPay Connect over the years. A new service, NPCI Bharat Billpay (NBBL), will soon be available to enable an interoperable net banking payment system. This system will enable quicker settlement of funds for merchants, and with banks and fintech firms planning to participate, NBBL is likely to enable such transactions in April.

[bhaskarlive]

PhonePe becomes India’s fastest growing insure-tech distributor

Digital payments platform PhonePe which is focusing on financial services for driving growth said on Tuesday that it has emerged as the fastest growing insure-tech distributor in India.

In the last four months alone, PhonePe has added six new products in the insurance and wealth management space.

PhonePe said its mutual fund offerings have also seen investments from over 5,000 cities and towns in India.

“This year we will be launching multiple tailor-made products across insurance and mutual funds and expect to have one of the most comprehensive product offerings in the space. Our philosophy has always been to launch customer centric products backed by a deep understanding of customer needs, with simplified payment flows.” Hemant Gala, Vice President, Financial Services & Payments, PhonePe, said in a statement.

“The customer response to the recent launches has been phenomenal resulting in us becoming the fastest growing insure-tech distributor in India. We have also seen Mutual Fund investments from over 15,000 pin codes across tier 1, 2 & 3 cities and towns,” he added.

One of PhonePe’s mutual fund customers from Dhanbad who recently started using Liquid Funds said “I always thought Mutual Funds are risky. But when I got to know about Liquid Funds, I found it to be a good way to invest as there was zero stock market risk. I tried it out and started earning better returns on my money than my savings account. I am very happy saving my money with Liquid Funds.”

[jiokcareers]

PhonePe - Manager - Digital Media Marketing (6-8 yrs)

PhonePe – Manager – Digital Media Marketing (6-8 yrs)

Job title: PhonePe – Manager – Digital Media Marketing (6-8 yrs) Company: Job description: About PhonePe PhonePe is India’s leading digital payments platform with over 230 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold, and make investments. PhonePe went live for customers in August 2016…

[jiokcareers]

PhonePe - Manager - Digital Media Marketing

PhonePe – Manager – Digital Media Marketing

Job title: PhonePe – Manager – Digital Media Marketing Company: Job description: About PhonePe PhonePe is India’s leading digital payments platform with over 230 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold, and make investments. PhonePe went live for customers in August 2016 and was the…

[jiokcareers]

PhonePe - Risk Analyst (2-3 yrs)

PhonePe – Risk Analyst (2-3 yrs)

Job title: PhonePe – Risk Analyst (2-3 yrs) Company: Job description: About PhonePe:- PhonePe is India’s leading digital payments platform with over 230 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold, and make investments. PhonePe went live for customers in August 2016 and was the first…

[jiokcareers]

PhonePe - Senior Manager - Privacy - Ethics & Compliance

PhonePe – Senior Manager – Privacy – Ethics & Compliance

Job title: PhonePe – Senior Manager – Privacy – Ethics & Compliance Company: Job description: About PhonePe: PhonePe is India’s leading digital payments platform with over 230 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold, and make investments. PhonePe went live for customers in August…

[jiokcareers]

PhonePe - Data Analyst - Fraud & Risk Analytics (3-10 yrs)

PhonePe – Data Analyst – Fraud & Risk Analytics (3-10 yrs)

JOB TITLE: PhonePe – Data Analyst – Fraud & Risk Analytics (3-10 yrs) COMPANY: JOB DESCRIPTION: About PhonePe : – PhonePe is India’s leading digital payments platform with over 230 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold, and make investments. PhonePe went live for customers in…

[jiokcareers]

PhonePe - Data Analyst - Fraud & Risk Analytics

PhonePe – Data Analyst – Fraud & Risk Analytics

JOB TITLE: PhonePe – Data Analyst – Fraud & Risk Analytics COMPANY: JOB DESCRIPTION: About PhonePe : – PhonePe is India’s leading digital payments platform with over 230 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold, and make investments. PhonePe went live for customers in August 2016 and…