Ownership and funding
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.[22]
PhonePe announced the acquisition of $350 million from General Atlantic, a US growth equity firm, at a pre-money valuation of $12 billion.[23] Subsequently, another $100 million was attained in primary capital in February 2023 from Ribbit Capital, Tiger Global, and TVS Capital Funds, followed by $200 million in primary capital from Walmart, and another $100 million from General Atlantic at the same valuation. This brings the total amount of funding raised by PhonePe to $850 million.[24][25]
Why do merchants and consumers use PhonePe?
The PhonePe wallet provides multiple benefits to customers, making financial transactions fast and easy. Users can add multiple bank accounts with their PhonePe accounts and manage all of the accounts within the PhonePe app. Users are rewarded with a scratch card after each transaction they make.
For merchants, PhonePe is a must-have when attempting to do business in India. With over 350 million customers, more people use PhonePe than live in most countries in the world. As India’s e-commerce landscape evolves, it continues to be one of the most popular payment methods in the market.
How does PhonePe work?
To use the PhonePe Wallet to pay bills and purchase goods, customers need to have money in their wallets. To add it, they first need to sign into their PhonePe account, go to their wallet, and enter the amount that they want to add to the wallet. The top-up wallet feature will be enabled as soon as they have added a certain amount.
When purchasing a product online, shoppers can select PhonePe as the payment method and use the funds they added to their wallet to pay for their order.
Merchants will receive funds immediately and can start preparing the shipment right away.
How can merchants start accepting PhonePe?
The easiest way to integrate the PhonePe wallet is through a payment gateway that includes PhonePe as one of the available payment methods that merchants can offer to customers in India. PayU is deeply rooted in the Indian market and offers PhonePe as well as a variety of other local and alternative payment methods to help merchants reach Indian customers.
PhonePe UPI, Payment, Recharge
PhonePe adalah aplikasi pembayaran yang memungkinkan Anda menggunakan BHIM UPI, kartu kredit & kartu debit atau dompet Anda untuk mengisi ulang ponsel Anda, membayar semua tagihan listrik dan melakukan pembayaran instan di toko offline & online favorit Anda. Anda juga dapat berinvestasi di reksa dana & membeli paket asuransi di PhonePe. Dapatkan Asuransi Mobil & Sepeda di aplikasi kami.Tautkan rekening bank Anda di PhonePe dan transfer uang dengan BHIM UPI secara instan! Aplikasi PhonePe aman dan terjamin, memenuhi semua kebutuhan pembayaran, investasi, reksa dana, asuransi & perbankan Anda, dan jauh lebih baik daripada perbankan Internet.Hal-hal yang dapat Anda lakukan di Aplikasi PhonePe (Phonepay):Transfer Uang, Pembayaran UPI, Transfer Bank- Pengiriman Uang dengan BHIM UPI- Kelola Banyak Rekening Bank– Periksa Saldo Rekening, Simpan Penerima di beberapa rekening bank seperti SBI, HDFC, ICICI & 140+ bank.Lakukan Pembayaran Online- Lakukan pembayaran online di berbagai situs belanja seperti Flipkart, Amazon, Myntra dll.- Bayar pesanan makanan online dari Zomato, Swiggy dll.- Bayar pesanan bahan makanan online dari Bigbasket, Grofers, dll.- Bayar online untuk pemesanan perjalanan dari Makemytrip, Goibibo dll.Lakukan Pembayaran Offline- Pindai & Bayar melalui Kode QR di toko lokal seperti kirana, makanan, obat-obatan, dll.Beli/Perpanjang Polis Asuransi dengan Aplikasi Asuransi PhonePeAsuransi Kesehatan & Jiwa Berjangka- Bandingkan/Beli Asuransi Kesehatan & Jiwa Berjangka dengan premi bulanan- Pertanggungan untuk individu, warga lanjut usia & keluargaAsuransi Mobil & Roda Dua- Jelajahi & dapatkan asuransi sepeda & mobil paling populer di India- Beli/perbarui Asuransi mobil & sepeda Anda dalam waktu kurang dari 10 menitAsuransi Lainnya- Asuransi PA: Asuransikan diri Anda terhadap kecelakaan & kecacatan- Asuransi Perjalanan: Dapatkan asuransi perjalanan internasional untuk perjalanan bisnis & liburan- Asuransi Toko: Asuransikan toko Anda terhadap kebakaran, pencurian, bencana alam, dan perampokan.Pinjaman PhonePeDapatkan pinjaman pribadi yang telah disetujui sebelumnya dan siap untuk dicairkan ke rekening bank Anda melalui perjalanan pinjaman digital yang lancar. Suku bunga yang menarik, opsi pembayaran yang mudah & modul layanan mandiri sekali klik adalah beberapa fitur menonjol yang ditawarkan.Jangka Waktu Pelunasan: 6 - 36 BulanSuku Bunga: Maks 30% (Berkurang)Contoh:Jumlah Pokok: ₹100.000Suku Bunga: 15% per tahun (Mengurangi)Biaya Pemrosesan: 2%Masa Jabatan: 12 BulanTotal jumlah bunga yang harus dibayar: 8309,97Total jumlah biaya pemrosesan yang harus dibayar: ₹2000Total biaya untuk pengguna: ₹110.309,97Aplikasi Reksa Dana & Investasi- Dana Cair: Dapatkan imbal hasil lebih tinggi dibandingkan bank tabungan- Dana Penghematan Pajak: hemat pajak hingga ₹46.800 & tingkatkan investasi Anda- Dana Super: Capai tujuan keuangan dengan bantuan ahli di aplikasi kami- Dana Ekuitas: Produk dengan pertumbuhan tinggi yang dikurasi sesuai selera risiko- Dana Hutang: Dapatkan pengembalian investasi yang stabil tanpa periode penguncian apa pun- Dana Hibrid: Dapatkan keseimbangan pertumbuhan & stabilitas- Beli atau Jual Emas Murni 24K: Kemurnian 24K terjamin, bangun tabungan emas di aplikasi kamiIsi Ulang Ponsel, DTH- Isi ulang Nomor Ponsel Prabayar seperti Jio, Vodafone, Idea, Airtel dll.- Isi ulang DTH seperti Tata Sky, Airtel Direct, Sun Direct, Videocon dll.Pembayaran Tagihan- Bayar Tagihan Kartu Kredit- Bayar Tagihan Telepon Rumah- Bayar Tagihan Listrik- Bayar Tagihan Air- Bayar Tagihan Gas- Bayar Tagihan BroadbandBeli Kartu Hadiah PhonePe- Beli Kartu Hadiah PhonePe untuk pembayaran mudah di 1 lakh+ outlet offline & online terkemuka dan di seluruh aplikasi PhonePe.Kelola pengembalian dana Anda- Kelola & lacak pengembalian dana dari situs belanja favorit Anda di PhonePe.Untuk lebih jelasnya, Kunjungi www.phonepe.comIzin untuk Aplikasi dan alasannyaSMS: untuk memverifikasi nomor telepon untuk pendaftaranLokasi: persyaratan NPCI untuk transaksi UPIKontak: untuk nomor telepon tujuan pengiriman uang dan nomor untuk diisi ulangKamera: untuk memindai kode QRPenyimpanan: untuk menyimpan kode QR yang dipindaiAkun: untuk mengisi ID email terlebih dahulu saat mendaftarPanggilan: untuk mendeteksi sim tunggal vs ganda & biarkan pengguna memilihMikrofon: untuk melakukan verifikasi video KYC
Awards and recognition
On 14 January 2017, ICICI bank blocked PhonePe transactions, citing the reasons that it did not meet the NPCI guidelines.[28][29] Initially, on 19 January 2017, NPCI instructed ICICI to allow UPI transactions via PhonePe.[30] During this period, Airtel too blocked PhonePe transactions on its platforms.[31] A day later, on 20 January 2017, NPCI renounced the previous instructions citing the reason that PhonePe indeed violated the UPI norms.[32][33][34]
After this, PhonePe closed its operations on Flipkart's website,[35] to align itself with the terms stated in the updated verdict from NPCI. By February 2017, PhonePe resolved the issues with ICICI and Airtel.[36]
PhonePe allots employee stock options (ESOPs) to its full-time employees.[37] In November 2021, PhonePe was reported to have conducted a buyback of ESOPs worth ₹1.35 billion (US$16 million), covering 75% of its current workforce who have completed at least a year of service.[38]
Donna Morris is executive vice president and chief people officer for Walmart. A member of the executive committee, Donna is striving to make Walmart a great place to work for the more than 2 million associates around the world and contributing to the growth and success of the global business with a focus on associates.
Walmart is a people-led, tech-powered omnichannel retailer dedicated to helping people save money, so they can live better. To drive Walmart’s people-led focus, Donna’s teams are focused on four areas: providing growth and career opportunities for all associates; improving the work experience through digital tools; prioritizing the emotional, physical and financial well-being of associates; and building a diverse, equitable and inclusive workplace that fosters a sense of belonging for all. Under her leadership, Walmart and Sam’s Club were certified as a "Great Place to Work” in the U.S. in 2023, while Walmart China and Massmart were each certified in 2022 and 2023.
Donna has significant leadership experience in delivering innovative people solutions, developing and managing teams that operate in an agile way, and helping to build high-performance cultures that promote diversity and inclusion. She joined Walmart in 2020 from Adobe, where she served as chief human resources officer and executive vice president of employee experience. Donna joined Adobe in 2002.
A native of Ottawa, Canada, Donna has a bachelor’s degree in political science from Carleton University. Donna holds the Society for Human Resource Management – Senior Certified Professional (SHRM-SCP), Senior HR Professional (SHRP) and Canadian Certified Human Resources Professional (CHRP) designations and is a Fellow of the National Academy of Human Resources (NAHR). Donna is on the Board of Trustees at Fordham University in New York, a member of the board of directors of PhonePe – a digital payment platform based in Bangalore, India – and the renowned Crystal Bridges Museum of American Art.
Donna’s work at Walmart has led her to being named to the inaugural Forbes Future of Work 50 list, Mass Market Retailer’s “Most Influential Women in Retailing” and a Top 100 HR Tech influencer by Human Resource Executive.
Startup fintech terkemuka India, PhonePe, telah menerima tambahan investasi $100 juta dari General Atlantic, hanya empat bulan setelah perusahaan memimpin putaran pendanaan $350 juta. Dengan investasi terbaru, PhonePe kini telah mengumpulkan total $850 juta dalam putaran pembiayaan berkelanjutan di tengah ekonomi global yang melambat. Saat ini bernilai $12 miliar, startup yang berbasis di Bengaluru berencana untuk mengumpulkan $150 juta lagi saat putaran pendanaan berlanjut.
Sebagai startup fintech paling berharga di India, PhonePe bersaing dengan platform pembayaran seluler utama seperti Google Pay dan Paytm, yang terakhir bernilai hampir $5 miliar. Setelah menyelesaikan pemisahan penuh dari raksasa e-commerce Flipkart tahun lalu, PhonePe kini mendominasi transaksi di platform UPI, sebuah jaringan yang dibangun oleh koalisi bank ritel di India. Memproses lebih dari 8 miliar transaksi per bulan, UPI telah menjadi metode dominan untuk transaksi online di tanah air.
PhonePe dan Google Pay bersama-sama menyumbang lebih dari 80% dari semua transaksi UPI, dengan PhonePe memegang 50% pangsa pasar berdasarkan nilai. Perusahaan tidak memperlambat pertumbuhannya, memproyeksikan untuk memproses transaksi senilai $1 triliun per tahun. Walmart, yang juga memegang saham mayoritas di Flipkart, mengatakan pemisahan Flipkart dan PhonePe serupa dengan apa yang terjadi dengan eBay dan PayPal, di mana operasi independen memungkinkan setiap perusahaan mengejar inisiatif terpisah.
Investasi berkelanjutan datang karena PhonePe berfokus pada perluasan penawaran produknya. Awal tahun ini, perusahaan memperkenalkan Pincode, aplikasi perdagangan hyperlocal yang didukung oleh Open Network for Digital Commerce (ONDC) pemerintah India. Inisiatif ini bertujuan untuk mendemokratisasi lanskap e-commerce dengan menyediakan platform tanpa komisi. PhonePe telah berkomitmen untuk menginvestasikan upaya signifikan dalam Pincode selama beberapa tahun mendatang, membantu memberdayakan pemilik toko India di seluruh negara.
Memanfaatkan 450 juta basis pengguna terdaftarnya yang kuat, PhonePe juga merambah ke layanan keuangan tambahan, termasuk manajemen kekayaan, pinjaman, pialang saham, belanja berbasis ONDC, dan agregasi akun. Awalnya, pembatasan pangsa pasar oleh National Payments Corporation of India (NPCI) mengancam pertumbuhan PhonePe's. Namun, dengan NPCI sekarang memperpanjang batas waktu kepatuhan hingga 2025, raksasa fintech itu memiliki waktu tambahan dua tahun untuk ekspansi cepat.
Mengingat perkembangan yang menguntungkan ini, Reserve Bank of India telah memutuskan untuk meninggalkan proyek profil tinggi yang awalnya direncanakan untuk bersaing dengan platform UPI. Karena lanskap fintech India terus berkembang, PhonePe berada di posisi yang baik untuk mempertahankan dominasinya di pasar dan memperluas penawaran produknya. Solusi platform No-code seperti AppMaster berpotensi memungkinkan pemain tekfin baru untuk memasuki pasar, menciptakan solusi mulus untuk memajukan industri.
Find out how money moves in a country of 140 Crore! Now updated with the latest data for Q1 2024 (Jan-Mar)
Our goal is to make digital payments so easy, safe and universally accepted that people never feel the need to carry cash or cards again. We believe India is at the cusp of a new mobile revolution, which will change the way we manage our money on the go. We see ourselves facilitating this change, through technology and dogged customer centricity.
SVP Engineering and VP Marketing at Flipkart and previously founded Mime360.Entrepreneur at heart, passionate about problem-solving and brewing good coffee.
VP Engineering - Supply Chain at Flipkart and previously co-founded Mime360. Geek at heart, loves filing patents and chilling with his kids in his free time.
Co-founder Mime360 and previously worked as VP Engineering at Shopzilla. Loves building highly optimized, scalable systems as much as he relishes good food.
PhonePe is a brand owned by Phonepe Private Limited (Formerly known as FX Mart Pvt Ltd) (CIN - U67190DL2012PTC303812). It is licensed by the Reserve Bank of India for issuance and operation of a Semi Closed Prepaid Payment system.
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PhonePe is a digital wallet payment method used by consumers to pay for mobile recharges, e-commerce orders, utility bill payments, travel, and more. Customers can use it to recharge prepaid and postpaid mobile phones, pay bills online, and even book movie tickets.
The PhonePe mobile payment platform allows users to create a UPI ID by feeding their bank account details into the app, connecting to India’s flagship Unified Payments Interface.
Customers can download PhonePe on both Android and Apple phones. This safe and secure application caters to all of their banking needs under one roof. There is no need to go through the cumbersome process of registering a beneficiary, or entering bank account details such as account number or IFSC code – all that is required is a Virtual Payment Address (VPA).
With over 350 million used, PhonePe is trusted by a vast swath of India’s e-commerce population, making it an important payment method for any merchant doing business in India.
Indian financial MR technology company
PhonePe is an Indian digital payments and financial services company headquartered in Bengaluru, Karnataka, India.[5][6] It was founded in December 2015,[7][2] by Sameer Nigam, Rahul Chari and Burzin Engineer.[8] The PhonePe app, based on the Unified Payments Interface, went live in August 2016.[9][10]
The PhonePe app is accessible in 11 Indian languages.[11] It enables users to perform various financial transactions such as sending and receiving money, recharging mobile and DTH, making utility payments, conducting in-store payments.[12][13]
PhonePe was incorporated in December 2015.[14] In April 2016, the company was acquired by Flipkart[15][16] and as part of the acquisition, the FxMart license was transferred to PhonePe and rebranded as the PhonePe wallet. PhonePe's co-founder Sameer Nigam was appointed as the CEO of the company.[17]
In August 2016, the company partnered with Yes Bank to launch a UPI-based mobile payment app, based on the government-backed UPI platform.[18]
In 2022, they were launching international UPI payments, allowing Indian users traveling abroad to pay foreign merchants with Unified Payments Interface (UPI).[19][20]
In 2022, PhonePe obtained licensing from the Reserve Bank of India for operating a Semi-Closed Prepaid Payment system.[21]
