Page 6 - Phonepe

Pine Labs gets approval from Singapore court to relocate base to India

Pine Labs' decision to shift domicile follows a broader trend among fintech firms like PhonePe and Groww, which have also moved their bases back to India

PhonePe collaborates with LankaPay to promote UPI payments in Sri Lanka

Apart from the National Payments Corporation of India's (NPCI) UPI, these transactions will be facilitated by the LankaPay National Payment Network

PhonePe partners LankaPay, enables UPI payments for travelers in Sri Lanka

PhonePe on Wednesday announced a partnership with LankaPay to allow its users to pay using UPI across Sri Lanka. At an event to mark the collaboration, PhonePe said its app users travelling to Sri Lanka can make payments using UPI across LankaPay QR merchants. The transactions will be facilitated by the Unified Payments Interface (UPI) and LankaPay National Payment Network. Users can scan LankaQR code to make secure and quick payments without carrying cash or calculating currency conversions. The amount will be debited in INR, showing the currency exchange rate. PhonePe's CEO, International Payments, Ritesh Pai, said the collaboration with LankaPay offers unparalleled convenience to Indian tourists who can now use a familiar and secure payment method while travelling and paying across LankaQR merchant points. "We are excited about the potential of this collaboration that would enhance payment experience to Indian tourists and business travellers during their stay in Sri Lanka and

NPCI to delay payments market cap by two years, helping PhonePe, Google Pay

NPCI, which has a regulatory mandate from the central bank, announced the 30% cap in 2020 but later extended the deadline by two years to the end of 2024

NPCI may defer market cap deadline for UPI payment platforms by 2 years

Eight months left for the implementation deadline, the National Payments Corporation of India (NCPI) may be favouring growth over concerns about market domination

NPCI likely to extend UPI market cap deadline for payment platforms

Paytm's UPI market share plummets; Google Pay and PhonePe continue to dominate digital payments in India

BHIM to challenge Google Pay, PhonePe e-commerce dominance through ONDC

BHIM will expand its presence in e-commerce by offering a diverse range of products and services, including food and beverages, groceries, fashion, and apparel to its user base

Industry keenly awaiting implementation of 30% UPI market share cap by NPCI

With extended deadline for 30 per cent UPI market ceiling by NPCI approaching, industry players are keenly awaiting the implementation and measures to achieve the cap from January 1. The National Payments Corporation of India (NPCI) in December 2022 extended the deadline for third-party UPI players to meet its 30 per cent volume cap in digital payment transactions by two years to end December 2024. Presently, third-party app providers (TPAP) like Google Pay and Walmart's PhonePe have a majority 85 per cent share in UPI-based transactions. NPCI runs the Unified Payments Interface (UPI) used for real-time payments between peers or at merchants' end while making purchases. According to sources, NPCI would spell out ways to implement the 30 per cent UPI market ceiling in a bid to minimise concentration risk. One option would be to stop on-boarding of new customers for those who have higher than 30 per cent market shares in UPI transaction, sources said, adding it can be done in a phase

NPCI to review by end of year decision on 30% UPI market share cap

December 2024 deadline for implement market cap remains unchanged, say sources

PhonePe, Google Pay creating a duopoly in India's UPI space? NPCI to check

Google Pay and PhonePe, together account for 86% of UPI transactions by volume in India and are also expanding to offer UPI services abroad

PhonePe partners with eSewa, HAN Pokhara to promote UPI service in Nepal

Fintech firm PhonePe on Wednesday said it has partnered with Nepal's digital wallet service eSewa and the Hotel Association of Nepal (HAN) Pokhara to promote digital payments through UPI on the Himalayan country's payment processor Fonepay Network. The partnership is a part of the Fewa New Year Festival which will be held from April 11-14 in Nepal. Over 3,000 merchants will participate in the festival with more than 1,00,000 visitors expected to visit. PhonePe in a statement said it will run on-ground activation aimed at raising awareness about digital payments among local merchants while demonstrating the convenience of digital payments for customers. With kiosks showing how to use digital payments and other interactive activities, PhonePe along with eSewa and HAN Pokhara will showcase the ease of UPI (Unified Payments Interface) payments. "Our focus will be on creating merchant education and awareness to ensure the uptick of UPI on the Fonepay Network in Nepal," said Ritesh Pai,

Singapore Tourism Board, PhonePe sign MoU to boost UPI for Indian tourists

The collaboration with the tourism board and the Bengaluru-based company builds upon the existing Unified Payments Interface (UPI) linkage between India and Singapore

Indian travellers can now use PhonePe to make payments via UPI in Singapore

Fintech firm PhonePe on Wednesday said its users can now make payments through UPI in Singapore under a pact signed by the company with The Singapore Tourism Board. The collaboration has been built upon the existing Unified Payments Interface (UPI) linkage between India and Singapore, which allows customers to instantly make cross-border transactions between the two countries directly from their existing Indian bank accounts. "Singapore Tourism Board (STB) and PhonePe enter a two-year strategic partnership to promote UPI payments for Indian visitors in Singapore," PhonePe, a decacorn, said in a statement. Privately-held companies with a valuation of over USD 10 billion are termed as decacorn. As part of the partnership, STB and PhonePe will invest in joint marketing efforts across India and Singapore, to promote seamless UPI experiences across key tourism hotspots. "This partnership exemplifies our dedication to enhancing the Singapore visitor experience for discerning, tech-savvy

PhonePe users can now make UPI payments in UAE via NEOPAY Terminals

Fintech firm PhonePe App users travelling to the UAE can now make payments using UPI at Mashreq's NEOPAY Terminals, the Walmart group digital payments firm said on Thursday. The transactions will be facilitated by the Unified Payments Interface (UPI). The account debit will occur in Indian rupee, showing the currency exchange rate, PhonePe said in a statement. NEOPAY Terminals is available across a wide array of retail stores, dining outlets, as well as tourist and leisure attractions. "With this partnership, customers can now conveniently transact through UPI, a payment method they are familiar with. Enabling digital payments not only reflects PhonePe's commitment to convenience but also embraces the evolving needs of today's travellers," PhonePe CEO for International Payments, Ritesh Pai said. The collaboration is facilitated through Mashreq's partnership with NPCI International Payments Limited (NIPL). Through this partnership, Mashreq has enabled NEOPAY Terminals to accept UPI

Phonepe's Indus Appstore gains traction amid Google-developer spat

Indus Appstore thrives with rapid user adoption and developer interest

Indus Appstore crosses one million installations within a month: PhonePe

PhonePe said it has partnered with Nokia and LAVA, and is in advanced talks with several other smartphone manufacturers, targeting pre-installation on over 250 million devices by the end of this year

PhonePe to go global in a couple of months, says CEO Sameer Nigam

The Bengaluru-headquartered company is expected to announce its international plans over the next couple of months

PhonePe got lucky by betting on UPI before everyone jumped in: CEO

Nigam said the fintech startup's UPI play gave it a boost, even as many banking and technology companies failed to tap digital payments at scale

PhonePe's Indus Appstore surpasses 100,000 downloads in 3 days of launch

Indus Appstore -- the new Android-based made-in-India app store that is pitted against the might of Google's Play Store -- has surpassed 100,000 downloads in just three days of launch, according to a release on Monday. App developers, tech enthusiasts, and users have actively downloaded the app, recognising the potential impact of Indus Appstore on India's digital ecosystem, the release said. Last week, PhonePe, owned by Walmart Inc, had launched the mobile app marketplace -- Indus Appstore -- to challenge Google's Play Store and Apple's App Store. "Indus Appstore, India's revolutionary new Android-based app store from PhonePe, has achieved a significant milestone by surpassing 100,000 downloads in just three days of launch," it said. The "remarkable feat", the release said, underscores the Indian market's eagerness for a localised, inclusive, and developer-empowering alternative to existing app stores. Akash Dongre, Chief Product Officer and Co-Founder of Indus Appstore, said, "W

Indus Appstore crosses 100,000 downloads in three days of its launch

The rapid adoption of the Indus Appstore, particularly as a side-loaded application, which requires users to download it directly from the Indus Appstore website