Page 8 - Phonepe

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

PhonePe expects to achieve operational profit by 2025: CEO Sameer Nigam

India's most valuable fintech firm PhonePe expects to achieve operational profit by 2025, a top official of the company said on Wednesday. PhonePe founder and CEO Sameer Nigam told PTI that the company's payment, advertising, banking and insurance businesses will reach breakeven by the time the company becomes operationally profitable at the group level. While speaking on the sidelines of the launch PhonePe's stock trading platform Share.Market, Nigam said that PhonePe has now become a household brand and a lot of financial services are being distributed on PhonePe, both on the consumer and merchant side. "We don't have to spend much on the marketing side there. I think at the group level, we have enough capital to deploy on Pincode and Share.Market, let them grow while we still hit EBITDA positive by 2025. I think it's doable," Nigam said. Without sharing financial numbers, he said that the company is on track to achieve EBITDA break even as its revenue is rising and losses are ..

PhonePe forays into online stock broking as it expands its services

The platform will charge users an onboarding price of 199 rupees, while there will be no charge for trades of up to 400 rupees, the company said in a statement

When money talks: All you need to know about voice-based payment method

PhonePe, the digital payments firm, has launched a service by creating voice-based alerts for payments

Fintech major PhonePe to enable users to pay tax directly on app

The company has partnered with a B2B payments and service provider, PayMate, to make this feature available

PhonePe Insurance launches monthly subscriptions for health policies

Option will lower financial burden for customers, says company owned by fintech major PhonePe

Flipkart makes nearly $700 mn cash payout to staff post PhonePe separation

Walmart-backed Flipkart on Friday began mega cash payout to staff, estimated to be worth USD 700 million, following its separation from fintech firm PhonePe. The board of directors of Flipkart had announced the complete separation from the PhonePe business by selling off its entire shareholding in December 2022. Accordingly, the board decided to pay USD 43.67 as compensation for each ESOP (vested options for eligible current and former stakeholders and unvested options only for eligible current stakeholders) as of the record date of December 23, 2022. "Further to the communication made on April 21, 2023, regarding this payout, I am delighted to inform you that the much-awaited compensation will be made today, July 14, 2023," Flipkart CEO Kalyan Krishnamurthy said in an internal e-mail, seen by PTI. In response to an e-mail query by PTI, the company confirmed that the payout following the separation of PhonePe (announced in December 2022) has been made to employees. Meanwhile, in t

Phonepe launches point-of-sale systems so vendors can accept card payments

Paytm had been providing all-in-one POS machines to check-out counters across the country, which were earlier only available for bank payments

PhonePe's ONDC app Pincode goes live in 10 cities, to expand services

The company says it will expand category offerings and expand nationwide

After PayCM, Congress uses 'PhonePe' to target Shivraj Singh; firm objects

The poster war in Madhya Pradesh is similar to what happened during the Karnataka Assembly elections

Indian banks looking for a bigger stake in digital India via own QR codes

Lenders are leveraging partnerships with fintechs and technology service providers to manage their apps and QR codes

How India fell in love with online payments

From paying a vegetable vendor to buying a high-end gadget, Indians are swiftly adopting online modes of payments for different needs. Watch the video to know why

Flipkart, PhonePe could be $100 bn businesses in India, says Walmart

Flipkart was valued at more than $40 billion in 2022 and counts itself among India's most valuable startups