Page 2 - Phonepe

PhonePe, Paytm, Cred end rent service as RBI tightens payment rules

PhonePe, Paytm, Cred end rent service: Regulator's new rules require payment aggregators to route funds only to registered merchants, impacting rent payments via credit cards

Indus Appstore crosses 100 million devices, driven by Gen Z, Tier 3 users

PhonePe's Indus Appstore has surpassed 10 million devices, with strong adoption in regional languages and Tier 3 cities, reflecting deep penetration among younger users

Fintechs offer secured lending with instant loans against mutual funds

Fintechs including PhonePe, Paytm, BharatPe, and Cred roll out loans against mutual funds, offering instant, fully digital secured credit at lower capital costs for investors

RBI fines PhonePe ₹21 lakh for non-compliance with PPI regulations

RBI penalises PhonePe Rs 21 lakh for failing to report escrow shortfalls under PPI norms, marking its third penalty since 2019 over compliance issues

PhonePe signs pact with Sidbi to enable digital Udyam Assist registration

Fintech major PhonePe on Wednesday signed an MoU with SIDBI to offer an end-to-end digital solution through the Udyam Assist Platform (UAP) to empower micro enterprises and merchants. The collaboration aims to formalise Informal Micro Enterprises (IMEs) across India by providing them with digital-first Udyam Assist registration, which enables them to access benefits including government schemes, credit facilities, and the broader digital payments ecosystem. The MoU was signed in the presence of Union Minister for Micro, Small and Medium Enterprises, Jitan Ram Manjhi. "Our partnership with SIDBI will unlock access to government schemes, credit facilities, and crucial benefits for MSMEs and will help contribute to India's economic vision. Through PhonePe's user-friendly and efficient, end-to-end digital solution, we're not just facilitating registration, we are translating the vision of empowering small and micro businesses into a seamless digital reality," PhonePe Pending CEO Hemant

PhonePe, DSP Finance launch loans against mutual funds up to Rs 2 crore

PhonePe has introduced a loans against mutual funds product with DSP Finance, offering secured credit lines up to Rs 2 crore with flexible repayment and portfolio continuity

PhonePe Launches New Home Insurance Offering

At just Rs 181, PhonePe users can protect their homes against 20+ risks such as fire, floods, earthquakes, and theft, amongst others.

PhonePe tops UPI in July with 8.93 bn transactions, 46% market share

PhonePe processed 8.93 bn UPI transactions in July, ahead of Google Pay's 6.92 bn, as total UPI volume hit a record 19.46 bn worth ₹25.08 tn, NPCI data shows

PhonePe's Indus Appstore strikes pact with Alcatel after Lava, Xiaomi

Indus Appstore will now be pre-installed on Alcatel smartphones in India, marking its third OEM partnership after Lava and Xiaomi, expanding its reach and app discovery features

PhonePe launches 'Offline Partner Program' to empower the merchant ecosystem

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PhonePe ropes in Meta's Shivnath Thukral as V-P for public policy

PhonePe has appointed ex-Meta India policy head Shivnath Thukral as vice-president for public policy, as the fintech firm gears up for its IPO

PhonePe retained top UPI spot with 46% market share in June, shows data

PhonePe maintains its leadership on the UPI leaderboard, capturing a 46.46% market share in June, processing over 8.54 billion transactions, according to NPCI data

Why startups like Meesho are paying millions to come back home | Razorpay | Zepto | Groww | PhonePe

What if we told you that some of India’s top startups are writing massive tax cheques, just to move back home, some of them being Meesho and Razorpay?

PhonePe eyes $1.5 billion IPO, draft papers likely by early August

Kotak Mahindra Capital, JPMorgan Chase, Citigroup, and Morgan Stanley have been enlisted to manage PhonePe's IPO

UPI to get faster from today; Daily caps on usage roll out from July 31

NPCI reduces UPI API turnaround times to 10 seconds; limits on balance checks, account listings, and autopay retries to be enforced across apps by end-July

PhonePe acquires GSPay IP to launch UPI payments for new feature phones

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. The company in a statement said it plans to customise the stack and launch its own UPI payment app for new feature phones in India in the next few quarters. The new app will offer essential UPI features such as peer-to-peer transfers, offline QR payments, and receiving money via mobile numbers or self-QR codes. Industry research indicates that there were over 24 crore feature phone users in India in 2024, and in the next five years, another 15 crore feature phone shipments are anticipated. PhonePe CEO Sameer Nigam said the acquisition will help bring millions of feature phone users into the digital payments ecosystem, a segment largely underserved so far.

Fintech major PhonePe appoints new board member as it prepares for IPO

PhonePe is the largest player on India's real-time payments system Unified Payments Interface (UPI). It reversed its listing from Singapore to India in 2022

PhonePe's Guardrails: Future of Payment Security

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BillDesk's M N Srinivasu appointed IAMAI chairperson for two-year term

M N Srinivasu succeeds Dream Sports CEO Harsh Jain as IAMAI chairperson, while fintech leaders from Razorpay and PhonePe take vice-chairman and treasurer roles

PhonePe suffers UPI outage after conducting disaster recovery drills

PhonePe's UPI services went down for over an hour on Monday evening as peak traffic exposed a network capacity shortfall during cybersecurity preparedness drills