PhonePe

  • Bangalore, Karnataka, Bangalore, Karnataka, India View on Map

Overview

  • Founded Date 1 January, 1900
  • Sectors Digital Payments Services
  • Posted Jobs 4
  • Viewed 417
  • Company Size Mid Cap

Company Description

PhonePe is an Indian digital payments and financial services[6] company headquartered in Bangalore, India.[7] PhonePe was founded in December 2015,[3] by Sameer Nigam, Rahul Chari and Burzin Engineer.[8] The PhonePe app, based on the Unified Payments Interface (UPI), went live in August 2016.[9]

The PhonePe app is available in over 11 Indian languages.[10] Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, make utility payments, pay at shops, invest in tax saving funds, liquid Funds, buy insurance and mutual funds and gold.[11] In addition PhonePe also allows users to book Ola rides, pay for Redbus tickets, and book flights and hotels on Goibibo through the Switch platform.[12]

PhonePe is accepted as a payment option at over 17.5 million[5][13][14] offline and online merchant outlets across 500 cities in India covering food, travel, groceries, medicines, movie tickets etc.[15] The app crossed 100 million user mark in June 2018[16] and also crossed 5 billion transactions in December 2019.[17] It currently has over 280 million users.[5][18] The company launched the PhonePe ATM in January 2020.[19] The PhonePe ATM allows neighbourhood Kirana stores to dispense cash in real-time to customers.

PhonePe is licensed by the Reserve Bank of India for issuance and operation of a Semi Closed Prepaid Payment system with Authorization Number: 75/2014 dated 22 August 2014.[20][21]

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