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News

PhonePe partners with PickMe to enable contactless payments for Indian travellers in Sri Lanka

Jun 11, 2024 by Mansi Praharaj 0 Comments #Indian travellers, #Jiffry Zulfer, #PhonePe, #PickMe, #Ritesh Pai, #Sri Lanka

National, 11th June 2024: PhonePe, today announced its collaboration with PickMe, Sri Lanka’sleading ride-hailing platform, to enable seamless UPI-based QR payments for Indian travellers in Sri Lanka. The partnership signifies a major step forward in enhancing their travel experience through the convenience of cashless transactions on their PickMe rides from the moment they exit the Bandaranaike International Airport.

While travelling, managing foreign currency and ensuring enough cash on hand for various expenses can often become a hassle. By integrating PhonePe’s UPI-based QR payment system into their platform, PickMe aims to minimise that stress for Indian travellers visiting Sri Lanka. PhonePe users can make secure and quick payments for their rides with UPI.

Commenting on the collaboration, Ritesh Pai, CEO, International Payments at PhonePe, added, “Our partnership with PickMe exemplifies the company’s commitment to provide Indian travellers with convenient and trusted payment solutions. Travel is all about exploring new cultures, where food and local shopping are an integral part of that adventure. Previously, navigating payments in a new country could be a hassle. Now, with PhonePe, Indian tourists visiting the beautiful island nation of Sri Lanka can enjoy the ease and security of UPI payments for their rides.”

Jiffry Zulfer, CEO of PickMe added, “Currently, we are the only ride-hailing platform in Sri Lanka to offer such a service to Indian travellers, and we hope to continue to innovate so that we make our ride-hailing service a convenient, safe and cost-effective mode of transportation for everyone. This collaboration not only enhances the convenience for Indian travellers but also supports our mission to drive digital transformation in Sri Lanka’s transportation sector. By enabling QR payments, we are making travel easier and safer for tourists while also providing a new revenue stream for our drivers.”

The collaboration follows the launch of PhonePe last month, wherein the Indian High Commissioner H.E. Santosh Jha had urged companies in Sri Lanka to engage with Indian companies to build on the UPI stack for innovations in hotel bookings, cab bookings, delivery services etc. The High Commissioner commended such collaborations saying, “I am confident that with greater commercial engagement in the fintech sector, India and Sri Lanka will unlock innovation and transformation in the digital domain.”

Sri Lanka is one of the most popular destinations among Indian travellers. This collaboration underscores PhonePe’s commitment to adding more value to the overall experience of Indian travellers by allowing them to use familiar services like UPI during their visit.

Health, Technology

PhonePe launches Comprehensive Health Insurance starting at Rs.999

Dec 2, 2021 by Rekha Nair 0 Comments #Gunjan Ghai, #PhonePe, #VP & Head of Insurance

National: PhonePe, India’s leading digital payments company, announced the launch of its latest health insurance plan, Health@999 catering to young first-time health insurance buyers, who are buying their first health insurance cover. The latest offering is the first of its kind in the Indian digital payments space and provides comprehensive health coverage at an affordable price. The highlight of the product is the simple 3-step process that only requires the user to provide details like name, age, gender, and email ID to buy the policy, eliminating the otherwise cumbersome processes that new and young buyers are deterred by.

Health @999, at its low price point, offers coverage for hospitalization expenses including in-patient and ICU hospitalisation, day care procedures, ambulance charges, and Ayush treatment among others. The cashless hospital network for the plan stretches across 7600 hospitals in the country. Health @999 can be availed via PhonePe instantly and comes with the lifetime renewability feature.

Speaking on the launch, Gunjan Ghai, VP & Head of Insurance, PhonePe said, “The Health@999 is designed for first-time insurance buyers, giving them access to high quality and affordable Health Insurance. We believe that 335+ million PhonePe users will greatly benefit from this offering which can be purchased quickly and easily on the PhonePe app. Our offering is designed with the idea that all Indians deserve access to high quality and affordable Health Insurance – irrespective of their income, or education status. PhonePe with its deep expertise in bringing the best Insurance products to the market will help its users make better and smarter choices to reduce the financial risk of unforeseen events in their lives.”

Business World, News

PhonePe takes up 6 sponsorships for IPL 2021 in its biggest-ever marketing push

Mar 19, 2021 by Rekha Nair 0 Comments #Founder & CEO, #PhonePe, #Sameer Nigam

Bengaluru: PhonePe, India’s leading digital payments platform today announced that it has taken up 6 different sponsorships for IPL 2021. PhonePe is the official co-presenting sponsor for the television broadcast of IPL 2021 on Star Sports Network. It is also the Associate Sponsor for the digital broadcast of IPL on Disney+Hotstar. Additionally, this time PhonePe is also sponsoring 4 IPL franchises – Mumbai Indians, Chennai Super Kings, Royal Challengers Bangalore & Delhi Capitals.

This is the third year in a row that PhonePe is co-sponsoring IPL as the league continues to be the biggest sporting event in India offering its advertising partners considerable national reach. This year, however, PhonePe’s IPL campaign will run equally aggressively across multiple platforms including TV, digital and social media platforms.

In the biggest-ever marketing push for PhonePe, the marketing interventions will run through the year with a focus on the upcoming IPL 2021. The focus of the marketing activities will largely be on expanding the user base from 280 million currently to 500 million by December 2022 and drive preference for PhonePe among millions of new-to-digital users.

Commenting on the announcement, Sameer Nigam, Founder & CEO, PhonePe said, “We are kicking off our most aggressive national marketing campaign ever, starting with IPL 2021 next month. We have invested even more heavily on IPL this year, taking up 6 different sponsorships. As the category leader, it is our vision as well as our ambition to bring digital payments to every Indian household. Our aggressive marketing efforts are in line with this strategic priority.”

Business World, News

PhonePe’s vivid new brand film high-fives our digital way of life…

Feb 11, 2021 by Rekha Nair 0 Comments #Brand Marketing, #CEO & Chief Creative Officer – South Asia, #Director, #Leo Burnett, #PhonePe, #RajdeepakDas, #Richa Sharma

National: PhonePe, India’s leading digital payments platform, announced the launch of their new brand campaign ‘Har phone pePhonePehai’ celebrating their market leadership in India. The centerpiece of the campaign is multimedia, audio-visual, real-life animation video set to a catchy tune, packed with pop-culture cues as a salute to their 25 crore+ users in 2021. By employing a range of multimedia formats including video game graphics, quirky illustrations as well as stop motion treatments, the film is a unique visual treat that pays tribute to some of 2020’s favourite cultural moments, including ‘Rasodemeinkauntha?’

With 1 in every 5 Indians now registered on the app, PhonePe’s adoption is proof of the scale and superior product experience we offer. This campaign is a delightful showcase of the myriad ways in which Indians have welcomed PhonePe into their lives and onto their phones. The convenience of transferring money safely, paying bills, making contactless payments, buying gold, investing in mutual funds or insurance, or even booking a gas cylinder, all on PhonePe from anywhere, is a reminder of how we are always moving forward in our lives.

For a moment, rewind to 2014, when you were always on the lookout for an ATM, had grown tired of producing ‘exact change’ after a ride, stood in long queues to pay your bills or even had to wait 24 hours to transfer rent to your new landlord. Fast forward to 2020, when you carry a wallet, but just out of habit. You can pay for a cab ride, recharge your phone, save tax with the right investments, pay electricity bills, send money to your family and buy insurance for your upcoming vacation, in a flash! All you need to do is tap the पेiconon your mobile screen.

The inspiration of the campaign is the life role that PhonePe plays for our users all over the country. This film gives voice to their little moments of forward motion that we recognise as progress. Bill payments that are as easy as playing your favorite game, quick and convenient QR payments and financial services that unlock the meaning of ‘aatmanirbhar’ are some of the features our users have come to rely on. We decided to break away from conventional storytelling formats to infuse this piece with the quirk we hope our audiences will enjoy” says Richa Sharma, Director, Brand Marketing, PhonePe.

The campaign was developed by Leo Burnett Mumbai.

Speaking about the campaign RajdeepakDas, CEO & Chief Creative Officer – South Asia, Leo Burnett, said “The Har phone pePhonePe’ film is layered with multiple messages and pays an ode to both the Indian spirit of resilience and celebrates the PhonePe users and the digital enhanced lives that we are living. It captures India’s journey over the years as we accept and adopt digital solutions as part of our everyday lives. It celebrates the progress and growth that the country has witnessed and PhonePe’s unparalleled contribution which has led to the same. The film uses very interesting visual execution to narrate its story.”

Business World

PhonePe partners with Axis Bank on UPI Multi-Bank

Feb 8, 2021 by Neel Achary 0 Comments #Axis Bank, #EVP & Head – Cards & Payments, #Hemant Gala, #PhonePe, #Sanjeev Moghe, #VP Financial Services & Payments

PhonePe, India’s leading digital payments platform, today announced that it has partnered with India’s third largest bank, Axis Bank on UPI multi-bank model giving its users the option to create and use multiple UPI IDs with Axis Bank’s “@axl” handle.

In addition, PhonePe will also start acquiring merchants with Axis Bank in addition to its partnership with YES Bank. This is in line with the company’s philosophy of offering users and merchant partners a seamless transaction flow. Collaborating with multiple banking partners will further strengthen the overall service reliability and uptime of PhonePe’s offering.

Commenting on the announcement, Hemant Gala, VP Financial Services & Payments, PhonePe said, “At PhonePe, our foremost priority is to provide the best in class payments experience to our users. We are excited to partner with Axis Bank to provide our users an option to create and transact using @axl handle on PhonePe. Our platform now enables the users to choose between multiple handles for their UPI transactions on the multi bank model. This partnership with Axis Bank will ensure greater business continuity for both our customers and merchant partners making their transaction experience seamless.”

Speaking on the partnership, Sanjeev Moghe, EVP & Head – Cards & Payments, Axis Bank said, “It is our constant endeavour at Axis Bank to build on strategic alliances and digital solutions that help us meet our customers’ ever-evolving needs. This collaboration with PhonePe strengthens our commitment towards digitization of the Indian payment ecosystem. It will help expand our reach to customers and the merchant community, while offering secure and seamless payment experiences. “

Business World

Save income tax by investing in tax-saving mutual funds on PhonePe

Jan 15, 2021 by Rekha Nair 0 Comments #Aditya Birla Sun Life, #and ICICI Prudential for offering these tax-saving funds, #Axis, #DSP, #PhonePe, #SBI, #Tata

Are you a salaried person who needs to submit investment proofs at your organization? Did you know that you can save up to INR 46,800* just by investing in tax-saving mutual funds on the PhonePe app in under a few minutes?

PhonePe, India’s leading digital payments platform has made saving income tax a whole lot easier. It provides a quick and simple option to invest in industry-leading tax-saving mutual funds. PhonePe makes tax saving simple, instant & safe while minimising your tax output.

What makes these tax-saving mutual funds attractive for taxpayers is the shortest lock-in period of just three years. Based on the past performance, these funds provide higher returns compared to fixed deposits (FD) and Public Provident Fund (PPF). PhonePe has partnered with trusted mutual fund players such as Axis, Aditya Birla Sun Life, DSP, Tata, SBI, and ICICI Prudential for offering these tax-saving funds.

Here, we look at a step-by-step guide to help reduce tax by investing in leading tax-saving mutual funds on the PhonePe app.

Step 1: Open the PhonePe app and click on the ‘My Money’ section at the bottom of the homepage

Step 2: Click on ‘See all’ under the Investments category and then on ‘Tax-Saving Funds’ under high growth products

Step 3: Select the tax-saving fund you wish to invest in and click on ‘Continue’

Step 4: Enter investment amount, choose an investment type (either one-time or monthly SIP) and click on ‘Invest Now’

Step 5: Select the bank account from which you wish to invest and click on ‘Pay’ to complete the transaction.

Step 6: Congratulations! Sit back & relax as you’ve both invested and reduced your tax liability

(*The saving of INR 46,800 is for investors with a net taxable income of above INR 10 Lakhs but below INR 50 lakhs assuming the investor is in the 30% tax bracket (as per old tax regime) and includes 4% cess.)

News, Technology

PhonePe processes over 11 million Insurance premiums on its platform in 2020

Dec 17, 2020 by Rekha Nair 0 Comments #Ankit Gaur, #Director, #PhonePe

National 2020: PhonePe, India’s leading digital payments platform announced that it processed over 11 million insurance policy premium payments in the last one year. PhonePe provides customers with a simple, quick and secure option to pay insurance premiums for over 30 insurers. The need for this feature has been strongly validated with PhonePe witnessing strong and active participation from tier-2 and tier-3 cities with 80% of the premiums being paid by customers residing in these markets.

PhonePe provides customers the added convenience of instantly-downloadable payment receipts for insurers to enable them to avail tax benefits in addition to zero convenience fees. This has resulted in PhonePe sustaining high premium payment volumes in this category since its launch. PhonePe also saw a massive spike in premium payments during the lockdown as users chose not only to pay premiums for their own policies, but also for their families and friends.

Commenting on the milestone, Ankit Gaur, Director of Business at PhonePe said, “The digital payments landscape is rapidly changing the way people are transacting and investing. Insurance as a sector is benefiting immensely from these macro trends. The PhonePe platform offers unmatched convenience and reliability for making premium payments in a jiffy. This has made us the platform of choice for millions of insurance policyholders across the nation. Digital payments will only continue to grow in popularity and we are on course to achieve our goal of building a truly open payments platform for a billion Indians.”

To pay insurance premiums on PhonePe:

Step 1: Select “LIC/Insurance” from the PhonePe homepage

Step 2: Select your Insurance service provider”

Step 3: Enter your details

Step 4: Click Confirm, select the payment instrument and complete the payment

Step 5: For LIC, download the payment receipt instantly from the PhonePe app

News

Celebrate the Christmas spirit with exciting offers from PhonePe

Dec 17, 2020 by Rekha Nair 0 Comments #PhonePe

National: PhonePe, India’s leading digital payments platform announced multiple exciting offers that customers can avail this festive season on the platform. The offer includes cashback of upto INR 2000 or up to 25% off on partner brands’ gift cards for apparel shopping, jewelry, groceries shopping, dining and much more. These exclusive offers will be available on the platform only till December 31st.

This festive season is all about spreading joy, love and the spirit of giving and there is no better way to celebrate the giving spirit than by giving to your loved ones. Users can either buy a PhonePe gift card, which can be easily used across a wide range of merchants partners, or buy a partner brand’s gift card from a variety of categories. With a PhonePe gift card, the receiver can use it seamlessly across shopping, bill payments, dining out and more – and can be purchased seamlessly in just 3 taps for a gift amount up to Rs. 10,000.

PhonePe aims to bring safe and contactless shopping and gifting experience with these exclusive offers designed not just for users but also for their loved ones.

To avail these exciting offers:

1) Just download or login to the PhonePe app

2) Go to My Money

3) Click on the ‘Gift Cards’ icon and , choose your preferred brand

4) Proceed to payment and complete the transaction

5) Cashback will be credited to your wallet depending on the offer on the card

News

Celebrate the Christmas spirit with exciting offers from PhonePe

Dec 14, 2020 by Rekha Nair 0 Comments #India, #PhonePe, #PhonePe gift card

National: PhonePe, India’s leading digital payments platform today announced multiple exciting offers that customers can avail this festive season on the platform. The offer includes cashback of upto INR 2000 or up to 25% off on partner brands’ gift cards for apparel shopping, jewelry, groceries shopping, dining and much more. These exclusive offers will be available on the platform only till December 31st.

PhonePe aims to bring safe and contactless shopping and gifting experience with these exclusive offers designed not just for users but also for their loved ones.

To avail these exciting offers:

1) Just download or login to the PhonePe app

2) Go to My Money

3) Click on the ‘Gift Cards’ icon and , choose your preferred brand

4) Proceed to payment and complete the transaction

5) Cashback will be credited to your wallet depending on the offer on the card

Business World

PhonePe onboards all electricity boards pan India to enable seamless bill payments

Nov 25, 2020 by Gouri Achary 0 Comments #Ankit Gaur, #AutoPay, #bill payments, #electricity board, #PhonePe

PhonePe, India’s leading digital payments platform announced today that it has onboarded all the 73 electricity boards (both public and private sector) across 28 states and 8 union territories in the country. This enables over 250+ million PhonePe users to pay their electricity bills on the app seamlessly.

Commenting on the development, Ankit Gaur, Director of Business Development, PhonePe said, “We have seen massive growth in the adoption of digital payments for electricity bills since we launched the category in 2016. In fact, there has been an over 40% increase in the volume of electricity bill payments in October 2020 over the corresponding period last year. It is also heartening to note that over 80% of our customers are in tier-2, 3, 4 cities and beyond indicating the widespread adoption of contactless bill payments.”

As a leader in digital payments, PhonePe has launched several innovative features to help in the adoption of the bill payments category. One such innovation is the ‘’Reminders” feature using which customers don’t need to remember the due date or fetch the hard copy of their electricity bills. Customers can make bill payments on the app based on a notification from PhonePe reminding them to pay. To make recurring bill payments convenient and friction-free, customers can also enable the AutoPay option on the PhonePe app. With AutoPay, customers need not worry about the due dates of their multiple utility bills or worry about incurring late payment charges. The due amount gets automatically debited from the customer’s chosen payment method every month.

Tag: PhonePe