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About PhonePe
Industries
Consumer Software
Fintech
Financial Services
Company Size
5,001-10,000
Company Stage
Growth Equity (Venture Capital)
Total Funding
$1.9B
Headquarters
Bengaluru, India
Founded
2015
Overview
PhonePe is a digital payments platform in India that allows individuals and businesses to conduct financial transactions securely and efficiently. It primarily operates through the Unified Payments Interface (UPI), enabling users to transfer money directly between bank accounts via their mobile phones. In addition to mobile payments, PhonePe offers insurance products and investment solutions, creating a comprehensive financial ecosystem. The company's goal is to make digital payments accessible to the next billion users in India.
Simplify's Take
What believers are saying
- Acquisition of GSPay IP expands PhonePe's reach in the feature phone market.
- Co-branded credit cards with HDFC Bank could increase customer loyalty and transaction volumes.
- Offline QR payments and P2P transfers position PhonePe as a leader in inclusive digital payments.
What critics are saying
- Pine Labs' IPO could intensify competition in the digital payments sector.
- Feature phone app adoption may be hindered by limited connectivity and technological literacy.
- Integration of GSPay IP may face challenges and potential legal issues.
What makes PhonePe unique
- PhonePe enables UPI payments on feature phones, expanding access to non-smartphone users.
- The company offers co-branded credit cards with HDFC Bank, enhancing financial service integration.
- PhonePe's upgraded SmartSpeaker boosts offline payments, strengthening its merchant ecosystem presence.
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Funding
Total Funding
$1874.8M
Above
Industry Average
Funded Over
3 Rounds
Tiger GlobalBenefits
Insurance Benefits - Medical Insurance, Critical Illness Insurance, Accidental Insurance, Life Insurance
Wellness Program - Employee Assistance Program, Onsite Medical Center, Emergency Support System
Parental Support - Maternity Benefit, Paternity Benefit Program, Adoption Assistance Program, Day-care Support Program
Mobility Benefits - Relocation benefits, Transfer Support Policy, Travel Policy
Retirement Benefits - Employee PF Contribution, Flexible PF Contribution, Gratuity, NPS, Leave Encashment
Other Benefits - Higher Education Assistance, Car Lease, Mobile & Broadband Reimbursements, Salary Advance Policy
Company News
Pine Labs provides end-to-end payment solutions and hardware to merchants and competes with players like Paytm and PhonePe in the digital payments ecosystem.
PhonePe and HDFC Bank have launched two new RuPay Co-Branded Credit Cards aimed at making UPI payments more convenient.
PhonePe is soon going to launch a new app, which will allow feature phone users to make UPI payments without internet.
PhonePe on Friday said it has acquired the IP of GSPay - a proprietary technology stack from conversational engagement platform Gupshup - to enable UPI-based payments on new feature phones.
PhonePe to launch UPI payments app for feature phones with P2P transfers, offline QR payments.
PhonePe is Hiring for 149 Jobs on Simplify!
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About PhonePe
Industries
Consumer Software
Fintech
Financial Services
Company Size
5,001-10,000
Company Stage
Growth Equity (Venture Capital)
Total Funding
$1.9B
Headquarters
Bengaluru, India
Founded
2015
PhonePe is Hiring for 149 Jobs on Simplify!
Find jobs on Simplify and start your career today