Tag: PhonePe

Business World

PhonePe emerges as the largest digital platform for buying Gold with 35% market share

Nov 18, 2020 by Gouri Achary 0 Comments #Mutual Funds & Gold, #PhonePe, #Terence Lucien

PhonePe, India’s leading digital payments platform today announced that it has emerged as the largest platform for buying Digital Gold with over 35% market share. The company also said that it has seen a more than 6X jump in the volume of Gold sold in the festival season this year (21 days starting from Dussehra till Diwali).

PhonePe had launched the Gold category in December 2017, and over the last 3 years, it has partnered with SafeGold and MMTC-PAMP to get users across the country to buy Gold online. Gold bought on PhonePe is 24K real gold that can be bought anytime, as per the customer’s budget, starting as low as Rs. 1. Customers can also opt for the physical delivery of Gold and get doorstep delivery in the form of coins or bars, starting as low as half a gram. Customers from over 18,500+ pin codes across India have so far bought Gold on PhonePe with over 60% of customers from small towns and cities.

Speaking on the milestone Terence Lucien, Head of Mutual Funds & Gold, PhonePe said, ‘’PhonePe saw record sales for Gold this month on the back of the festive season. Customers are increasingly opting for digital purchases due to the ease of access, affordability and safety accentuated by the rising trust in payment platforms like ours. PhonePe has one of the best-designed platforms to buy gold and we are constantly innovating and adding new features. We recently introduced a reminder feature to help our customers build the habit of purchasing Gold every month. We have also added a milestone feature to help motivate customers to achieve their saving goals by investing regularly.’’

Business World

Buy 24K gold on PhonePe and get a flat 5% assured cashback

Nov 7, 2020 by Gouri Achary 0 Comments #24K gold, #cashback, #MMTC, #PhonePe, #SafeGold

PhonePe, India’s leading digital payments platform today announced an exciting cashback offer for its customers. Customers buying 24 Karat physical gold using the PhonePe app between October 25 (Dussehra) and November 14 (the day after Dhanteras) will get a flat 5% assured cashback.

PhonePe has a sophisticated marketplace letting customers choose the purity of the Gold they prefer as well as the provider of their choice. Customers can buy certified 24K Gold, for as low as INR 1 at market-linked transparent prices from trusted partners like SafeGold and MMTC. All the customer needs to do is log in to the PhonePe app and start buying gold in a few clicks. The whole process is seamless and can be completed within 2 minutes. Customers can order doorstep delivery of gold as well in tamper-proof boxes. Every rupee collected from customers is used to purchase physical 24 Karat gold which is stored in a safe bank-grade insured locker.

Buying physical Gold using PhonePe is a very simple process. All the customer needs is the PhonePe app and a bank account linked to it post which he/she is just a few clicks away from buying gold.

Step 1: Log in to the PhonePe app and click on the My Money section

Step 2: Under Investments, click the Gold icon

Step 3: Choose a Provider of your choice

Step 4: Enter the amount (Rs) or weight (gms) for which you want to buy gold

Step 5: Make the payment using BHIM UPI/Credit Card/Debit Card

You are now the owner of a bank-grade insured digital locker where your gold is safely stored

Business World

PhonePe hits the 250 million user mark in India

Nov 2, 2020 by Gouri Achary 0 Comments #digital payments, #PhonePe, #Sameer Nigam, #UPI

PhonePe, India’s largest digital payments platform, today announced that it has crossed the 250 million registered user milestone. The company reported over 100 million monthly active users (MAU) and 2.3 billion app sessions in October 2020.

PhonePe had a record month in October, processing 925 million transactions, its highest so far, with an Annual TPV Run rate of $277 Billion. PhonePe also processed 835 Million UPI transactions in October, for a market-leading share of over 40%.

Talking about the milestone, Sameer Nigam, CEO and Founder of PhonePe said, ”We are thrilled to have crossed the 250 million user milestone, and are grateful that so many Indians continue to repose their trust in our services. We are on a mission to make digital payments a way of life for every Indian citizen, and our next target is to cross 500 million registered users by Dec 2022. In line with our brand ethos of ”Karte Ja. Badhte Ja”, we continue to launch new & innovative products for every stratum of Indian society, as well as enable digital payment acceptance across every merchant in every village and town in India.’’

Digital payments adoption in India has been booming over the last few years and PhonePe has led this adoption for customers across age groups, urban and rural areas, and income levels. This phenomenal growth is driven by the best-in-class payments success rates, the fastest speed of transactions and an easy-to-use user interface which the PhonePe app offers.

Business World

Now pay with PhonePe at over 20 lakh shops in Maharashtra

Oct 30, 2020 by Gouri Achary 0 Comments #Maharashtra, #PhonePe, #shops

PhonePe, India’s leading digital payments platform today announced that it is now live as a payment option at over 20 lakh shops comprising large organized retail stores as well as small and medium shops and kiranas across Maharashtra. PhonePe has recorded a phenomenal 64% year-on-year growth in its offline store acceptance in Maharashtra. PhonePe is currently live at over 1.3 crore offline shops across the country, and Maharashtra accounts for the largest share of offline stores.

Commenting on this milestone, Vivek Lohcheb, Vice President – Offline Business Development, PhonePe said, “We are delighted to be accepted as a payment option across 20 lakh offline shops in Maharashtra. Our wide acceptance network now allows our customers the choice of using digital payment modes like UPI, wallet, Credit or Debit cards to pay for their daily purchases across their favourite stores.

For our merchant partners, the advantage is they can now serve more customers and grow their business with PhonePe. This milestone is also a significant step in helping us move towards our goal of digitizing 2.5 crore offline stores across India, thereby contributing to the vision of a digital and less-cash economy. Going forward, we aim to increase our presence in Maharashtra’s rural areas also and hence will be recruiting over 1700 more sales executives in the state over the next 3 months.”

PhonePe has built a comprehensive set of offerings to help offline merchant partners grow their business and attract more customers. One such feature is the ‘Stores’ tab on the PhonePe app which enables a seamless connect between PhonePe’s 23 crore customers and offline shops at scale throughout the country. Customers can easily discover a large number of offline shops in their vicinity and either call or chat with store owners to place their orders and shop from the comfort of their home.

Customers can also pay the stores remotely for their purchases using the “Pay now feature” without needing to scan any QR codes. PhonePe has also introduced a Digital Khata solution helping offline stores maintain easy records of customer transactions. In case the working capital gets stuck and the payments happen only when the customer comes to the shop next, the store can easily send a reminder for faster collection. Earlier this year PhonePe had also introduced a one-of-its-kind PhonePe ATM enabling customers to visit nearby offline stores to withdraw cash instead of having to visit a bank ATM.

Business World

It’s raining offers on PhonePe this Dussehra

Oct 20, 2020 by Gouri Achary 0 Comments #Dussehra, #PhonePe

PhonePe, India’s leading digital payments platform today announced multiple exciting offers that customers can avail this festive season. These offers can be availed on the gold purchase, online recharges, gift cards, trendiest fashion purchases on PhonePe Switch and much more. The exclusive offers range from cashback of up to INR 1000 to discounts up to 70% on shopping and will be available on the platform only till October 31st.

PhonePe over the past few years has always launched unique offers on its platform to mark the beginning of the festive season and to add to the already joyous occasion. This year more than ever, PhonePe aims to bring safe and contactless shopping and payment experience to its users with multiple offers.

To avail of these exciting offers:

1) Just download or login to the PhonePe app

2) Purchase gold

3) Or purchase trendiest fashion within PhonePe switch

4) Or recharge online

5) Make payment and complete the transaction

6) See what you won in the rewards section on the home page

Business World

PhonePe expands its Insurance portfolio with the launch of Car & Bike Insurance

Oct 14, 2020 by Gouri Achary 0 Comments #bike insurance, #car insurance, #Gunjan Ghai, #Insurance, #PhonePe, #Sourabh Chatterjee

PhonePe, India’s leading digital payments platform, today announced the launch of Car and Bike Insurance products on its platform for owners of private cars and two-wheelers, in association with Bajaj Allianz General Insurance, one of India’s leading general insurers. With this launch, over 230 million registered PhonePe users can now insure their vehicles seamlessly in under 2 minutes, without the need for any documents to be uploaded before the purchase and also view their policy documents instantly on the app. PhonePe’s Car and Bike insurance products are also among the most affordable ones available in the market today.

What is also noteworthy is that PhonePe’s Car and Bike insurance customers can get hassle-free renewals, cashless repair services at an extensive countrywide network of garages and instant claim settlement within 20 mins. PhonePe users can also customise their Car insurance plan based on their needs with a range of value-added offerings such as Zero Depreciation, 24X7 Roadside Assistance and engine protection among others. Zero depreciation helps protect the vehicle regardless of the annual depreciation in the value of its parts and pays for the entire claim amount, thereby limiting out-of-pocket expenses for the users.

Commenting on the launch, Gunjan Ghai, VP & Head of Insurance at PhonePe said, “We are delighted to launch Car and Bike insurance products for our users. This is in line with our goal to be a one-stop destination for all insurance needs of our customers, We believe there is tremendous headroom for growth in the motor insurance segment as two-wheelers account for 70% of the vehicles in the country and a bulk of these are uninsured. With our reach and customer-first approach, we are offering a simple, quick and convenient way to buy motor insurance while also enabling smooth renewals. We remain deeply committed to making insurance affordable and accessible for our over 230 million users and will be launching many new products in the near future.”

Sharing his perspective, Sourabh Chatterjee, President & Head – IT, Web Sales & Travel at Bajaj Allianz General Insurance said, “Motor insurance is necessary and provides protection during accidents. Still, we have many vehicles across India, both two-wheelers and four-wheelers, which are either not insured or are underinsured. At Bajaj Allianz General Insurance, our endeavour has always been to offer insurance products in the market that are simple, easy to understand, purchase and claim for our customers. Our partnership with digital platform providers are another small but giant step in that direction and hence we are very excited with this launch. We will be coming up with more new and innovative products on this platform in the future.”

PhonePe users can get their bikes and cars insured in a few simple steps. All they need to do is to go to the “My Money” section of the app (both Android & iOS) and visit the “Insurance” section. Both Car & Bike insurance products will be visible under the Motor Insurance section. Customers just need to select the desired insurance coverage for their vehicle, fill up the details and make the payment.

Business World

PhonePe’s “Karte Ja. Badhte Ja.” brand campaign – touching every household this cricket season

Oct 7, 2020 by Gouri Achary 0 Comments #Aamir Khan, #digital payments, #Karte Ja. Badhte Ja, #PhonePe

PhonePe, India’s leading digital payments platform announced that its new brand campaign aired during the cricket season has created buzz and awareness across the country. The 8- weeks brand campaign that premiered on August 18th reflects the role played by the company in enabling a digital economy by catering to the varied aspirations and needs of its over 230 million users across the country.

Weaved in the form of a storyline, the 6 brand adverts show a sceptical Aamir Khan gradually getting convinced by Alia Bhatt on PhonePe’s ubiquity – trusted by 230 million Indians, availability across 12 million merchant locations, 3 layered security and overall simplicity to become a PhonePe customer.

The campaign is designed to engage with audiences who are currently not using digital payments. The objective is to introduce digital payments, explain the benefits – easy of use, safety and ubiquity. The series of adverts explain the key takeaways through an engaging storytelling format that unfolds over six, 20 sec adverts. While each ad talks about a different reason to try PhonePe, yet the story picks up from where the previous ad ends. This episodic treatment has been chosen to create engagement and to get customers excited and keep them guessing about the next one, while continually reinforcing the key message of using PhonePe for digital payments.

Here are the 6 adverts arranged in their order of appearance:

– Film 1: 20 crore Indians love PhonePe

– Film 2: Pay across 1 crore+ store with PhonePe

– Film 3: Credit card, Debit card, UPI & wallet – multiple options to pay via PhonePe

– Film 4: With a password, UPI pin & fingerprint ID, payments on PhonePe are safe & triple secured

– Film 5: Direct bank to bank transfers in 5 seconds on PhonePe

– Film 6: Your friends & family are on PhonePe. What about you?

PhonePe’s objective behind running this campaign during the cricket season was to reach the massive audience that’s not yet gone digital for payments. The key focus is to remind the audience that PhonePe stands at the vanguard of safe, easy and instant digital payments and financial services for each and every Indian.

The campaign has been well received by all consumer cohorts – current users, category non-users alike, with the adverts garnering over 425 million views on youtube and Facebook. While the campaign is still ongoing, there has already been a significant positive impact on brand recall and business metrics along with positive engagement and organic love being shown by audiences on digital platforms. PhonePe is confident that with the cricketing season kicking off now, it’s only further going to add to the positive momentum.

Business World

PhonePe launches Switch Gully to welcome the Cricket season

Sep 25, 2020 by Gouri Achary 0 Comments #PhonePe, #Sonika Chandra, #Switch Gully

Bengaluru: PhonePe, India’s leading digital payments platform today announced ‘Switch Gully’ – a one-stop-shop for everything cricket. Switch Gully allows fans to follow match scores, test themselves with fun cricket quizzes and games and purchase cool merchandise while also availing exciting offers like cashback up to Rs.1000 on mobile & DTH recharges, food orders, ticket purchases and much more. All this is brought to PhonePe users via exclusive tie-ups with our merchant partners.

“Being the co-presenting broadcast sponsor of IPL, Switch Gully is an attempt to make the cricket fever come alive on the PhonePe app. It is a digital version of a live experience zone for cricket aficionados where they can get quick access to great content, exciting contests and amazing offers while enjoying their favourite sporting event,” said Sonika Chandra, Vice President – Business Development at PhonePe.

Switch Gully exclusively launched on the Switch platform for this cricket season will have over 20 exclusive offers and contests for users and aims to be an experience zone where users can shop, eat, binge and win rewards.

Business World

PhonePe bring exciting offers this cricket season on Recharges, DTH and Subscriptions

Sep 23, 2020 by Gouri Achary 0 Comments #cricket season, #DTH, #PhonePe, #Recharges, #Subscriptions

National, September 23, 2020: PhonePe, India’s leading digital payments platform today announced a bunch of exciting offers for its users during the ongoing cricket season. These offers are valid during all match days from September 19 – November 10, 2020, across 3 categories – Recharges, DTH, and Subscriptions.

Recharges

This offer provides a chance for 200 lucky PhonePe users to get Flat Rs 50 cashback daily when they recharge for data packs on their prepaid mobile numbers. This is valid for the period of September 19 – November 10, 2020.

DTH

This offer is applicable for DTH recharges on PhonePe:-

● Tata Sky and Airtel users will get Flat Rs 50 cashback till October 2, 2020. This offer will be made active again from October 30 – November 08, 2020.

● From October 3rd till October 29th, there will be a new offer applicable on Tata Sky and Airtel DTH recharges wherein 200 lucky winners every day will get Rs 100 cashback upon recharging their DTH on PhonePe.

● For Dish and d2h subscribers recharging on PhonePe, there is a separate offer on PhonePe Switch wherein they will get Rs 75 cashback throughout the ongoing cricket season (September 19th – November 10th, 2020)

In order to be eligible for the offers mentioned above, the users need to recharge for a minimum amount of Rs 200 for Tata Sky and Airtel. For Dish and d2H, the minimum recharge amount will be Rs 300.

Subscriptions

This offer is applicable to the purchase of a new Disney+Hotstar subscription on PhonePe which otherwise costs Rs 399 for an annual VIP subscription. When any user purchases a Disney+Hotstar subscription on PhonePe, they will get a scratch card that contains an offer. The offer is Rs 60 cashback on their next Faasos order made through PhonePe Switch. The minimum value of the Faasos order should be Rs 199.

The cashback received can be used for recharges, bill payments, and payments on PhonePe’s partner platforms/stores. What are you waiting for? Just log on to your PhonePe app and recharge your mobile, DTH or buy a new Disney+Hotstar subscription now!

Business World

PhonePe makes your BEST rides cashless

Sep 14, 2020 by Gouri Achary 0 Comments #Brihanmumbai Electricity Supply and Transport Undertaking (BEST), #Manoj Varade, #PhonePe, #Vivek Lohcheb

Mumbai, 14th September 2020: PhonePe, India’s leading digital payments platform today announced that it has partnered with Brihanmumbai Electricity Supply and Transport Undertaking (BEST), Mumbai to provide frictionless, contactless and safe payment options to commuters across Mumbai. Commuters who use these services every day will now be able to pay the fare through UPI based interoperable QR code without worrying about carrying cash or exact change for their fare.

PhonePe aims to solve the pressing need for contactless payments for public transport users, especially as we begin to unlock the country. This will enable users to pay their commute fare in just a few taps on their smartphones. In addition, this will also make fare collections easier for conductors, especially during peak hours.

Over 10,000 conductors have been assigned a unique QR code lanyard as part of this initiative. All a commuter has to do is to ask for the fare amount to their destination from the conductors, scan the QR code using any UPI enabled payment app, enter the amount and UPI PIN to make the payment directly from their bank accounts.

Speaking about the partnership, Vivek Lohcheb, Vice President – Offline Business Development, PhonePe said “We are excited to have partnered with BEST to enable contactless fare payments for commuters using public transport across Mumbai. Interoperable QR codes have been deployed in over 3000 buses across 27 depots covering key routes in the city. This solution allows our esteemed partners to accept payments from PhonePe or any UPI app, ensuring both commuters and partners don’t have to go through the hassle of dealing with cash. This will prove particularly useful in these extraordinary times. We believe this use case will be a key driver of safety and convenience while acting as another step forward towards achieving the Prime Minister’s vision of a digital and cashless India.”

Manoj Varade, Dy.P.R.O, BEST Undertaking added “We have introduced digital ticket purchases considering the safety of our passengers during this pandemic situation with a cashless mode of ticketing. It is a convenient way for both commuters and conductors. We strongly believe that it will encourage Mumbaikars to take public transport and help to decongest our city.”