Page 7 - Phonepe

PhonePe sells over 9 mn digital insurance policies, 4 mn in one year

Walmart-backed payments firm PhonePe on Thursday said it has sold over 90 lakh insurance policies since entering the market in September 2021, of which 40 lakh were in just one year in 2023. PhonePe had entered the insurance space in 2020 with a corporate agency licence, before acquiring a full-fledged insurance broking licence. It currently distributes life, health, motor and car insurance with partners such as Acko, among others, and allows users to pay in monthly subscriptions through UPI. "PhonePe started offering insurance on its platform in September 2021, and since then has sold over 9 million overall policies, with over 4 million being sold in the last year alone. The digital insurance market is growing at a CAGR of 24 per cent, with a large part of this growth coming from PhonePe," the fintech firm said in a statement. The fintech giant announced that it has contributed to over 65 per cent growth for two-wheeler digital insurance in India, over the last 2 years. The company

Technology trends for 2024: Leaders' view on what to expect this year

Industry experts predict how GenAI, robots, virtual assistants will change the world

PhonePe appoints Ritesh Pai to lead fintech firm's global expansion plans

Pai is a seasoned digital payments sector leader with a proven track record of launching innovative solutions and structuring strategic business partnerships globally

PhonePe launches section to help customers with credit score, bills

Fintech company says service will help users in understanding their credit health

Acko's car, bike insurance will now be available on PhonePe

As of now, PhonePe offers a number of insurance products, including health insurance, car insurance, bike insurance, and travel insurance, among others

Sequoia-backed mobile wallet Mobikwik selects banks for $84 million IPO

The Gurugram-based fintech firm is working with DAM Capital Advisors Ltd and SBI Capital Markets Ltd for preparations for its listing

PhonePe expected to launch consumer lending by January next year: Report

PhonePe is in the final stages of integration with five banks and non-banking finance companies

'I'll be last man standing': Ashneer Grover on charges of fake invoices

BharatPe had alleged that Grover and his family paid for their South Delhi house, vacations, skincare and appliances with the company's money

Walmart-owned PhonePe crosses 500 million lifetime registered users

The fintech firm which has become the first Indian Internet company to hit this milestone has also elevated some of the key executives to take on larger roles in the group

Support to regulations difference between us and tech firms: Sameer Nigam

Nigam said that being an early mover in the adoption of the United Payments Interface also played in their favour

PhonePe scales up its shopping app to compete with large e-commerce firms

Pincode offers consumers the opportunity to browse and order directly from their favourite local shops and restaurants

PhonePe records revenue of Rs 2,914 crore in FY23, marks 77% jump

The Walmart-owned fintech firm said this growth is led primarily by its focus on market expansion and leadership in the digital payments market.

PhonePe revenue soars 77% in FY23 on booming digital payments market

The company's loss before interest, taxes, depreciation and amortisation on a standalone basis widened to 17.55 billion rupees ($210.8 million) from 16.12 billion rupees a year ago

P2M transactions to make 75% of all UPI transactions by 2025: Report

The average ticket size of UPI in the first six months of 2023 was 10% lower than the same period last year showing its growing penetration and increasing adoption of small payments

PhonePe announces Indus Appstore for Android developers to take on Google

PhonePe on Saturday announced the launch of Indus Appstore developer platform, wooing Android app developers with the promise of zero platform fee or commission for in-app payments, as the digital payments firm made a bold and decisive move to confront the might of Google in the app marketplace with the Made-in-India app store. Akash Dongre, Co-Founder of Indus Appstore rued that app developers are forced to work with only one app store - Google Play Store - for distributing their apps, and vowed that the new offering will be a credible alternative, more localised, with better app discovery and consumer engagement. The Indus Appstore Developer platform comes with sweeteners - app listings on it will be free for the first year, after which a nominal annual fee will apply. Moreover, the Indus Appstore will not charge developers any platform fee or commission for In-App Payments. Developers will be free to integrate any payment gateway of their choice inside their own apps. These apps

PhonePe announces Indus Appstore; invites Android developers to list apps

PhonePe on Saturday announced the launch of the Indus Appstore developer platform, and invited all Android app developers to list their applications on it. These apps will be listed on the soon-to-be launched "Made-in-India" Indus Appstore, offering a localised experience in 12 languages, tailored for Indian audiences, according to a release. "PhonePe, today announced the launch of the Indus Appstore Developer Platform... Indus Appstore is inviting all Android app developers to register and upload their apps using the self-serve developer platform "www.indusappstore.com," it said. App listings on the Indus Appstore Developer Platform will be free for the first year, following which a nominal annual fee will apply. "The Indus Appstore will not charge developers any platform fee or commission for in-app payments. Developers will be free to integrate any payment gateway of their choice inside their own apps," the release added. The Appstore will also have a 'Launch Pad' for new ...

No phones, cards needed, your car can pay for its fuel and Fastag directly

The service can be availed by linking the Unified Payments Interface (UPI) with the car's infotainment system, thus eliminating the need for a smartphone to make payments

Soon, make your card payments through Paytm and Pine Labs soundboxes

The company said the total deployment of all its soundboxes is pegged at 85 lakh devices in the market. Additionally, the company added that it deploys over 12 lakh soundboxes every quarter

PhonePe takes on Zerodha, Upstox, Groww, unveils stock broking platform

Walmart-owned fintech firm said what differentiates its stock broking platform 'Share.Market' is that it elevates discount broking by combining research, convenience and technology

Broking platform is completion of financial services strategy: PhonePe CTO

Chari is also an active stock investor and has been using various stock-broking apps recently to learn more about the stock market and competition