PhonePe hits USD $ 1 Trillion Annualised TPV Runrate (2024)

FAQs

What is the success rate of PhonePe? ›

PhonePe is also the leader in Bharat Bill Pay System (BBPS), processing over 45% of the transactions on the BBPS platform.

Synopsis. Walmart, the world's biggest retailer, said its digital payments firm PhonePe has a total payment value (TPV) of $1.3 trillion, equalling some of the largest fintech players in its home market of the US, indicating the Indian firm's market cap potential when it lists.

PhonePe has 10 institutional investors including Walmart, General Atlantic and Tencent. General Atlantic is the largest institutional investor in PhonePe. Saurabh Singla and 12 others are Angel Investors in PhonePe.

When you send any money back to your account, it does not charge any fees. It even gives you different offers and cashback for the money you paid through transactions. The major percentage of the revenue of PhonePe comes from recharges and bill payments.

PhonePe is one of the most convenient and secure payment methods for digital transactions. To ensure smooth transactions and protect users from fraudulent activities, PhonePe has set transaction limits for various banking activities.

Ans: PhonePe provides multiple options to sign in, while Google Pay automatically moves on to verifying mobile numbers when the user has added their phone number. One could argue that Google's method is swift and secure. But, to my mind, PhonePe, giving multiple options for login, is better in handling errors.

In December 2020, Flipkart and PhonePe declared a partial split, with Walmart maintaining its majority ownership in PhonePe and the two entities now functioning independently. PhonePe announced the acquisition of $350 million from General Atlantic, a US growth equity firm, at a pre-money valuation of $12 billion.

About PhonePe Group:

PhonePe is India's leading digital payments company with 50 crore (500 Million) registered users and 3.7+ crore (37+ Million) merchants covering over 99% of the postal codes across India.

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 is now owned by the American multinational Walmart, and Google Pay is headquartered in California, United States. Back in August 2023, the Chief Executive Officer of One 97 Communications Limited, Sharma, and the promoter entities became the largest shareholder in Paytm.

How many employees does PhonePe have in India? ›

PhonePe employs 5,001 to 10,000 employees in India.

When it comes to security, PhonePe is highly secure. The app uses multi-layer security, including a UPI PIN, to ensure that your transactions are safe and secure. PhonePe also has a limit of Rs. 1 lakh per transaction, which adds an extra layer of security.

Like GPay, you dont have the option for secure login using PIN or password. Sometimes your transaction gets stuck in between for long duration, so that's a technical bug with this app. if you are booking your travel tickets with PhonePe and in case you cancelled it. Then you wont get any refunds for that.

Following a year marked by substantial funding and the introduction of diverse offerings, the company is poised for a transformative 2024. After securing nearly 10 per cent of the total funding raised by Indian startups in 2023, PhonePe stands as a significant player in the market.

The PhonePe Group was acquired by the Flipkart Group in 2016 and today is India's largest digital payments platform. The company builds products and offerings tailored to the Indian market, and with over 400 million registered users, more than one in four Indians are now using PhonePe.

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 55+ crore Indians have placed in us.

Phonepe.com (Customer Care) has received ratings from 4.2 users. And the average feedback from all of them suggests that Phonepe.com (Customer Care) scores 4.2 in the eyes of the majority.

Daily Limit: The general daily transaction limit on PhonePe is ₹1 lakh. Transactions Per Day: You can make a maximum of 10 to 20 transactions per day on PhonePe, depending on your bank's policies. Request Money Limit: You can request up to a maximum of ₹2,000 per transaction on PhonePe.