Tag: PhonePe

PhonePe Payment Gateway helps small and medium businesses save upto INR 8 lakhs

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PhonePe launches a new brand campaign on motor insurance renewals

Telugu super news,National, 14 June 2023: PhonePe, today announced that its Payment Gateway enables small and medium businesses to save up to INR 8 lakhs. While most payment gateways charge a standard transaction fee of 2%, the PhonePe Payment Gateway has a special offer for new merchants to onboard for free, with no hidden charges, setup fees, or annual maintenance fees. For example, if businesses with a monthly sales volume of INR 1 crore choose the PhonePe Payment Gateway for free, they could potentially save around INR 2 lakhs per month. With this limited-period offer from PhonePe Payment Gateway, businesses across India that join the platform can save up to INR 8 lakhs. This straightforward and transparent pricing helps merchants enhance their payment experience seamlessly, allowing them to invest the savings from onboarding costs into growing their businesses.  

PhonePe is already a market leader in UPI with over 50% market share by value. The company’s ability to handle large-scale transactions and the strong consumer trust in the platform have translated into PhonePe launching its Payment Gateway business to provide the best-in-class payment experience to consumers and merchants alike. The ease of use to enhance merchant experience which includes effortless integration, digital self-onboarding, and a seamless checkout experience for customers is making the PhonePe Payment Gateway a preferred choice among businesses and MSMEs across the country.

The PhonePe Payment Gateway is reliable and ensures 100% uptime for merchants and comes with industry-best success rates. It proactively detects downtimes and ensures stable success rates of transactions with real-time instrument health-tracking capability.  The PhonePe Payment Gateway is also preferred by merchants as it comes with a hassle-free, no-code setup for effortless integration across all platforms. PhonePe helps its merchant partners and businesses to accept online payments across Android, iOS, mobile web, and desktop. 

Talking about the true potential of PhonePe Payment Gateway, Suman Patra, Co-Founder, FlowerAura & Bakingo says, “As an e-commerce business, it is important to have a reliable payment gateway partner and we are happy to have PhonePe Payment Gateway as our growth partner because of their legacy and experience. PhonePe has helped us improve the customer experience, reduce drop-offs, and increase the overall success rate of payments. PhonePe’s smooth onboarding process and excellent merchant support have been key factors in our decision to continue working with them.”

Nishchay AG, Co-Founder & CEO at Jar shares his experience of working with PhonePe Payment Gateway’s best-in-class payment experience, “When we started Jar, we were clear from day one that we wanted PhonePe as our payment partner because of its reach and responsiveness. PhonePe’s massive distribution network makes it a lot easier for us because users are already UPI-ready. The Payment Gateway team at PhonePe has been very collaborative throughout and has been working together to continuously improve the overall systems, which has resulted in higher success rates for us.”

The PhonePe Payment Gateway is in compliance with RBI Laws to securely store customers’ tokenized cards in the PhonePe Card Vault after taking consumer consent. 

PhonePe SmartSpeakers Offer Voice Payment Notifications in Telugu

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PhonePe launches a new brand campaign on motor insurance renewals

Telugu super news,Bengaluru, 7 June 2023: PhonePe, today announced the launch of voice payment notifications for its SmartSpeakers in Telugu. With the introduction of vernacular voice notifications, merchants can now validate customer payments instantly in the regional language of their choice, without having to check the customer’s phone screen or wait for the payment confirmation SMS from the bank, especially during peak business hours.

PhonePe SmartSpeakers are currently being utilized by merchant partners across 19,000 pin codes (covering over 90% of the country), to enable voice payment notifications. In Telangana alone, PhonePe has successfully digitized 21 lakh merchant partners, who are actively utilizing its QR codes and other solutions. With the addition of voice payment notifications in Telugu, they can now access PhonePe SmartSpeakers in their preferred language within the PhonePe for Business app, without incurring any extra charges. On an average, PhonePe SmartSpeakers validate 6 crore transactions per month in Telangana, demonstrating its widespread adoption in the state.

Speaking on the new offerings, Vivek Lohcheb, Head of Offline Business at PhonePe said, “As we take digital payments into the Indian heartlands, our aim is to actively solve for the numerous challenges that merchants currently encounter, thus ensuring the optimal utilization of our SmartSpeaker devices. Addressing the challenges that come with varying lingual needs is a step in that direction.  With the growing demand for payment validation, our objective is to make our devices accessible to every merchant in India by localizing and customizing our services to cater to their specific needs.”

PhonePe launches a new brand campaign on motor insurance renewals

Here’s the step-by-step guide for merchants to download and select the regional language of their choice on the PhonePe SmartSpeaker:

1) Open the PhonePe for Business App

2) Go to the SmartSpeaker section on the home screen

3) Under the Language bar, choose your preferred language from the multiple options available

4) The selected language gets downloaded on the device

5) Device gets rebooted with the updated language

PhonePe had launched SmartSpeakers last year, to provide reliable and convenient payment tracking at stores. Some of the features that make PhonePe SmartSpeakers stand out in the market include portability, a best-in-class battery, great audio clarity even in the noisiest of environments, and the compact and versatile form factor which allows merchants to use it even in the most congested counter spaces. Earlier merchants using feature phones relied heavily on SMS, but now with the PhonePe SmartSpeakers, their payment validation experience has been significantly eased. PhonePe SmartSpeakers come with up to 4 days of battery life, data connectivity, a dedicated battery level LED indicator for ease of use, audio alerts for low battery level, and a replay button for the last transaction.

PhonePe goes live with UPI LITE 

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PhonePe launches a new brand campaign on motor insurance renewals

Telugu super news,Bengaluru, May 3rd,2023: PhonePe, today announced that it has gone live with the UPI LITE feature on its app. The feature allows users to initiate low-value payments under Rs. 200, with a single tap from their UPI LITE account without entering a PIN. The transaction is processed directly by debiting the on-device UPI LITE balance without involving the customers’ banks’ (remitter bank) core banking systems in real-time. This makes transactions more seamless and even faster than the regular UPI transactions while also increasing the success probability of the transaction.

UPI LITE on PhonePe is supported by all major banks and is accepted at all UPI merchants and QRs across the country. The feature operates through an ‘on-device’ balance that facilitates much faster real-time payment solutions for low-value transactions such as groceries, transit, even during the busiest time slots.

Users can instantly activate the feature on their PhonePe app through a simple process that doesn’t involve any KYC authentication and create a UPI LITE account. Users can load up to Rs. 2000 in their LITE account and make transactions of up to Rs. 200 or less in one go. To check the transaction history, users will receive a daily SMS containing the history of UPI LITE transactions carried out during the day from their bank. This also results in decluttering bank statements/passbooks with small-value transactions, as the transactions would only be visible in the LITE account and not in the bank statement.

PhonePe launches a new brand campaign on motor insurance renewals

Speaking on the announcement, Rahul Chari, Co-founder, and Chief Technology Officer at PhonePe said, “UPI LITE is a core part of the UPI stack offering, with a vision to enhance the users’ digital payments experience for frequent and low-ticket size spends. Small-ticket transactions make up a significant volume of the overall UPI payments, and UPI LITE will make them quicker and convenient, without putting a strain on the existing UPI infrastructure. UPI Lite also paves the way to introduce use cases that need payment execution without network connectivity making it one of the most exciting launches from NPCI in recent times. This is a crucial step towards increasing the adoption of digital payments for users across India, further strengthening a cashless economy. We are optimistic that India will embrace the feature for faster and hassle-free low- value payments.”

Here’s how PhonePe users can activate UPI Lite on the PhonePe app:

  1. Step 1: Open the PhonePe app
  1. Step 2: On the home screen of the app, users will get the option to enable UPI LITE
  1. Step 3: User enters the amount to add it in UPI LITE and selects the bank account
  1. Step 4: User enters UPI Pin and the UPI Lite account is enabled successfully.

PhonePe becomes India’s first fintech platform to enable cross-border UPI payments

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PhonePe

Telugu Super News,Bengaluru, February 7,2023: PhonePe, India’s largest digital payment company, today announced that it has launched support for ‘UPI international’ payments. This feature allows PhonePe’s Indian users traveling abroad to instantly pay foreign merchants using UPI. The current launch supports all international merchant outlets in UAE, Singapore, Mauritius, Nepal and Bhutan that have a local QR code. Users will be able to make payments in the foreign currency directly from their Indian bank- just like they do with international debit cards. PhonePe is the first fintech app to launch this feature in India.

UPI international is designed to facilitate safe and easy transactions for millions of Indians traveling overseas. Historically, Indian customers needed to use a foreign currency, or their credit or forex cards to pay at international merchant outlets. With this feature, they can now use their Indian Bank account to pay using UPI. Over the course of this year, NPCI in collaboration with NIPL (NPCI International Payments Limited) plans to roll out UPI International to more countries, while also enabling greater merchant acceptance in the regions where this feature is currently live.

Speaking on the development, Rahul Chari, CTO and Co-Founder of PhonePe said, “Over the past six years, all over India we have been lucky to experience the UPI payments revolution transforming our daily lives. UPI international is the first major step in letting the rest of the world experience UPI too. I am sure this launch will prove to be a gamechanger and will completely transform the way Indians traveling overseas pay at merchant outlets abroad. PhonePe has always prided itself in being the first TPAP to take new UPI features to the market, and this time is no different. We are glad that PhonePe is leading this change. The entire world needs to experience UPI!”

PhonePe users can activate their UPI linked bank account for UPI international at the merchant location, or prior to their international trip, via the PhonePe App. The flow is secure and will require the customer to enter their UPI pin in order to activate the service.

PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic

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PhonePe launches a new brand campaign on motor insurance renewals

Telugu Super News, Hyderabad, 23rd January, 2023:India and New York, NY -2023 -Bengaluru, India and New York, NY – Jan 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. The General Atlantic investment marks the first tranche of an upto $1 billion total fundraise that PhonePe has commenced in January 2023. Other new marque global and Indian investors have already been signed up for the second tranche, which is expected to close next month. The fundraise follows PhonePe’s recently announced change of domicile to India and full separation from Flipkart.

PhonePe launches a new brand campaign on motor insurance renewals

PhonePe plans to deploy the new funds to make significant investments in infrastructure, including the development of data centers and help build financial services offerings at scale in the country. The company also plans to invest in new businesses, including Insurance, Wealth Management, and Lending. The fundraise is expected to support PhonePe as it seeks to turbo-charge the next wave of growth for UPI payments in India, including UPI lite and Credit on UPI to enable greater financial inclusion for Indians.

Founded in December 2015, PhonePe has become a home-grown success story, with the company’s significant expansion powered by India’s emerging digital ecosystem. By building products and offerings tailored for the Indian market, PhonePe today has over 400 million registered users, meaning that more than one in four Indians are on PhonePe. The company has also successfully digitized over 35 million offline merchants spread across Tier 2, 3, and 4 cities and beyond, covering 99% of pin codes in the country.

“I would like to thank General Atlantic and all our existing and new investors for the trust they have placed in us. PhonePe is proud to help lead India’s country-wide digitization efforts and believes that this powerful public-private collaboration has made the Indian digital ecosystem a global exemplar. We are an Indian company, built by Indians, and our latest fundraise will help us further accelerate the Government of India’s vision of digital financial inclusion for all,” said Sameer Nigam, Founder and CEO at PhonePe. “We look forward to delivering the next phase of our growth by investing in new business verticals like Insurance, Wealth Management and Lending, while also facilitating the next wave of growth for UPI payments in India.’’ 

“Sameer, Rahul and the PhonePe management team have pursued a clear mission to drive payments digitalization and significantly broaden access to financial tools for the people of India. They remain focused on driving adoption of inclusive products developed on the open API based ‘India stack.’ This vision is aligned with General Atlantic’s longstanding commitment to backing high-growth businesses focused on inclusion and empowerment,” said Shantanu Rastogi, Managing Director and Head of India at General Atlantic. “We are excited to partner with the PhonePe team to help enable the next generation of digital innovation in India.”

PhonePe also recently announced a full separation from the Flipkart Group. After a partial separation from Flipkart in December 2020, a number of Flipkart shareholders, led by Walmart, acquired shares in the recent separation. This move will allow both companies to chart their own growth paths, build their businesses independently, and help unlock and maximize enterprise value for shareholders of the two companies.

PhonePe deploys over 10 lakh SmartSpeakers within 3 months of launch

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PhonePe deploys over 10 lakh SmartSpeakers within 3 months of launch

PhonePe, India’s leading fintech platform today announced that it has deployed over 10 lakh SmartSpeakers to merchant partners across India. The company has also processed over 100 crores (1 billion) transactions via the devices, within just 3 months of launch. This has enabled the company to further strengthen its offline merchant payments across the country. Introduced earlier this year in August for reliable and convenient payment tracking at merchant locations, the company has received phenomenal feedback from merchants on the device performance. As a result, the demand for  SmartSpeakers has surged amongst new merchant partners, across the urban and rural markets.

PhonePe has been a pioneer in enabling end-to-end payment solutions and building new offerings for merchant partners to make it easier for them to run and grow their business. The company was first to launch the interoperable QR codes, making it extremely simple for merchants to seamlessly accept digital payments from any UPI enabled apps; and the first to also launch Photo QR codes– addressing the need for personalization and safeguarding businesses against fraudulent transactions. Keeping up with the evolving needs of its merchant partners, PhonePe introduced SmartSpeakers in August this year for efficient payment tracking at the retail outlets.

The volume of digital transactions made to businesses has been increasing at a rate of 175% during covid owing to the extensive consumer adoption of digital payments. This has further amplified the demand for stronger payment validation mechanisms, especially in instances where it is challenging to keep track of several transactions carried out during peak hours at various QRs. PhonePe’s SmartSpeakers address this need, saving merchants a lot of time and effort in tracking transactions. The SmartSpeaker has a host of features like instant payment alerts, and a very high level of reliability, enabling merchants to no longer worry about any unauthorized transactions in their absence. The ease of receiving payment notifications in English and 10 Indian languages, and the high sound clarity also makes payment validation easier in the noisiest of environments, making it a preferred choice amongst merchants.

Speaking on the milestone Vivek Lohcheb, Head of Offline Business at PhonePe said, “Digital payments are now ubiquitous in India as they have helped eliminate various issues pertaining to cash transactions. PhonePe’s SmartSpeaker is a big step in providing cutting-edge payment services to our merchant partners, especially in the mass market, and this has opened up a new channel for engaging with our vast merchant base. Deploying more than 10 lakh devices in less than 3 months, marks a significant milestone given the speed & scale at which retailers have embraced this value added offering from PhonePe.’’

The PhonePe SmartSpeaker comes with dedicated data connectivity and is easy to operate without requiring any configuration, and it gets automatically linked to all the QRs in the merchant’s store. It also has a dedicated battery level LED indicator for ease of use, along with audio alerts for low battery level, a dedicated replay button for the last transaction, and supports multiple languages.

PhonePe Golden Days all set to make Dhanteras exciting this year

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PhonePe launches a new brand campaign on motor insurance renewals

Telugu Super news,India, October 17th, 2022: PhonePe, India’s leading fintech platform, announced exciting offers on Gold and Silver purchases for Dhanteras 2022, as part of the PhonePe Golden Days campaign. PhonePe users can benefit from the Dhanteras offers and get a cashback of upto Rs.2500 on Gold and Rs.500 on Silver.

Dhanteras being an auspicious time to buy Gold and Silver, PhonePe is offering exciting discounts for its users for Gold and Silver purchases of Rs.1000 or more on the app. Customers who pay for their Gold or Silver purchases – digital, coins or bars between September 26th and October 26th, 2022 are eligible for the cashback offer. Here are the advantages of buying Gold & Silver on the PhonePe app:

  1. Highest Assured Purity: Customers can buy 24K Gold & Silver of the highest 99.99% purity^ on PhonePe. A purity certificate is provided against each purchase of Gold coins.
  2. Convenience and accessibility: Customers can also choose to get insured doorstep delivery for high quality Gold & Silver coins and bars.
  3. Storage in insured bank grade lockers: Certified 24K Gold purchased digitally for accumulation, carries zero making charges and is stored in free* & insured bank-grade Gold lockers.
PhonePe launches a new brand campaign on motor insurance renewals

Here is a step by step process on how to buy Gold on PhonePe:

Step 1: On the PhonePe homepage, click on the wealth icon at the bottom.

Step 2: Next, click on the Gold/Silver icon based on your purchase preference.

Step 3: Click on ‘Start Accumulating’ or ‘Buy More Gold’ .

Alternatively, you can click on any of the Gold/Silver coins below if you wish to purchase and have your coin delivered to your doorstep.

Step 4: Enter the amount and click on ‘Proceed’.

Step 5: Lastly, click on ‘Proceed to Pay’ to complete the purchase.

PhonePe launches a new brand campaign on motor insurance renewals

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PhonePe launches a new brand campaign on motor insurance renewals

PhonePe, India’s leading digital payments platform today announced the launch of its integrated multimedia brand campaign focused on tension-free motor insurance renewals. This pan-India campaign will be launched in a phase-wise manner with eight ad films in total. It highlights real, everyday problems that consumers face with sales pitches that have now become an unpleasant purchase experience. The campaign drives awareness around the benefits of renewing motor insurance tension-free on PhonePe. 

Focused on category creation and driving consideration for motor insurance renewals on the PhonePe platform, this campaign inspires consumers to question the way bike and car insurance is traditionally sold to them. It uses creatives specially crafted for Hindi-speaking audiences in the north markets starring Aamir Khan and Alia Bhatt, while for the south markets of Tamil Nadu, Karnataka, Kerala, Andhra Pradesh, and Telangana, the campaign features Dulquer Salmaan.

The light-hearted series of films highlights how, with PhonePe, consumers don’t have to settle for unwanted sales calls, unnecessary add-ons, and other limited options. Both bike and car insurance products on the platform come with a wide range of options that empower consumers to choose the best price. It also gives potential buyers the power to choose any add-ons rather than setting them as defaults. Once done, the insurance is renewed instantly, does not need an in-person inspection, and is available at affordable prices. This conscious brand stance makes the purchase experience simple, easy, and tension-free while also setting PhonePe apart in this category.

Speaking on the launch of this new brand campaign, Ramesh Srinivasan, Director of Brand Marketing, PhonePe, said, “Based on our recent consumer research, we have been able to identify some of the current challenges in the insurance industry. The results highlight a general discontent from a consumer point of view for unwanted sales calls or unnecessary add-ons. We have built our latest motor insurance campaign sharply on these consumer insights to invest in our audience’s needs. At PhonePe, we have eliminated the problem of consumers facing unsolicited sales calls, thereby keeping up the product promise of ‘Tension-free Insurance’ on the platform. We have also continued with our brand approach of driving localized connect with our audiences with not one but two separate campaigns for the north and south Indian markets with a full 360 media mix.”

PhonePe launches Smart Speaker for reliable & convenient payment tracking at stores

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Smart-Speaker

PhonePe, India’s leading fintech platform announced the launch of its Smart Speaker for reliable and convenient payment tracking at stores. The Smart Speaker has currently been launched in 8 cities, and over 100k devices are already being used by PhonePe merchant partners. 

The PhonePe Smart Speaker provides payment notifications in 11 Indian languages, comes with up to 4 days of battery life, doorstep installation at just Rs.50 as an initial set-up cost and a low monthly rental of Rs. 50/month. As part of the launch offer, both the initial set up and the monthly rental is available at just Re.1, provided the merchant does more than 25 transactions per month. The device also comes with lifetime free replacement against any manufacturing defects. 

Smart-Speaker

Speaking on the launch Vivek Lohcheb, Head of Offline Business at PhonePe said, ’At PhonePe we are constantly building new offerings to make it easier for our merchant partners to run and grow their business. We are excited to launch the Smart Speaker and are rolling it out Pan-India. We have kept the setup and installation costs very affordable as our goal is to make the Smart Speaker accessible to every merchant across India.’’

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