PhonePe - Company Profile - Tracxn (2024)

FAQs

What is the profile of PhonePe? ›

PhonePe is an Indian digital payments and financial services company headquartered in Bengaluru, Karnataka, India. PhonePe was founded in December 2015, by Sameer Nigam, Rahul Chari and Burzin Engineer. The PhonePe app, based on the Unified Payments Interface (UPI), went live in August 2016.

PhonePe got acquired by Flipkart on Jun 01, 2015 at an acquisition amount of $20M.

Success of PhonePe

PhonePe provided consumers with a seamless and secure option to make transactions directly from their bank accounts by connecting with UPI. As a result, the app instantly gained popularity due to its simple layout, quick processing speeds, and useful features.

No data shared with third parties. The developer says that this app doesn't share user data with other companies or organisations. Learn more about how developers declare sharing.

Complete your PhonePe profile by adding your photo and your address, and learn how to keep your PhonePe account safe. To add a profile picture to your PhonePe account, follow these steps: Tap your profile picture on the PhonePe app Home screen. Tap the edit icon.

PhonePe is a mobile payments platform that allows users to make safe and secure transactions using the UPI (Unified Payments Interface) system.

Bengaluru, India and New York, NY, January 19th, 2023: PhonePe, one of India's largest fintech platforms, today announced it has raised $350 million in funding from General Atlantic, a leading global growth equity firm, at a pre-money valuation of $12 billion.

PhonePe was founded by ex-Flipkart executives Nigam, Rahul Chari and Burzin Engineer, and was acquired by the Sachin and Binny Bansal-founded company in 2016. In 2018 Flipkart was acquired by Walmart, and PhonePe was part of the transaction as well.

Integration with other products

PhonePe is integrated with Flipkart and other Flipkart-owned brands, while Google Pay is integrated with Gmail, Google Maps, and other Google products. Pricing: Both PhonePe and Google Pay do not charge for most transactions.

In Short. Instant payments app PhonePe came under severe criticism and saw boycott calls on social media a day after company CEO and Co-Founder Sameer Nigam opposed the Karnataka government's proposed jobs quota bill, which aims to secure a portion of jobs in private sector for locals.

What is the disadvantage of PhonePe? ›

Due to technical problems, it can take up to 3 days. It also happens when you pay to a merchant, the message is displayed, payment successful. Your account is also debited for that number, but the receiver account is creditless. In certain cases, credit processing can take up to 24 hours.

Currently, UPI international payments through PhonePe is only supported at selected businesses in Bhutan, Singapore, Nepal, UAE, and Mauritius². To use UPI International, you must have a supported bank account connected to PhonePe³. Here is the list of banks supporting UPI International 👉.

Payments on PhonePe are safe, reliable and fast. One in three Indians are now using the PhonePe app to send money, recharge, pay bills and do so much more, in just a few simple clicks.

PhonePe Security - Every Payment is Protected on PhonePe. That's why we have an advanced security infrastructure to keep your transactions safe. We do what it takes to earn the trust that you and 56+ crore Indians have placed in us.

Financial Services: PhonePe also offers financial services such as insurance, lending, and wealth management to users. They earn revenue through commissions and service charges on these services. For example, if a user takes out a loan through PhonePe, the company earns revenue from the interest charged on that loan.

PhonePe is a mobile payment platform using which you can transfer money using UPI, recharge phone numbers, pay utility bills, etc. PhonePe works on the Unified Payment Interface (UPI) system and all you need is to feed in your bank account details and create a UPI ID.

PhonePe is integrated with Flipkart and other Flipkart-owned brands, while Google Pay is integrated with Gmail, Google Maps, and other Google products. Pricing: Both PhonePe and Google Pay do not charge for most transactions.

Tap your profile picture on the PhonePe app home screen. Select the bank you want to make your primary bank account by scrolling to the right under the Payment Methods section. Tap to highlight the green tick mark next to Set as Primary.