PhonePe’s Pulse Report on Digital Payments

India’s leading Fintech platform, PhonePe, which has now 300 million users, has introduced an interactive website called PhonePe Pulse, comprising of data, insight and key trends on virtual payments.

Key Points

• PhonePe Pulse website features millions of transactions done by clients on an interactive map of India.
• PhonePe’s data was introduced with the aim of accurately reflecting the increasing usage of digital payment options, especially in light of COVID outbreak. PhonePe’s data is having more than 45% market share currently.

PhonePe Pulse Report

PhonePe introduced the Pulse Report, which is an extensive study and covers the rise of virtual payments during last five years. It shares important insights regarding how digital or online payments adoption in India has matured since 2016. It also includes geographical and category-specific trends. PhonePe it is an end-result or culmination of considerable research and collaboration by a professional team comprising of Corporate Communications professionals, Business Analysts, Writers, Marketers, Designers, Engineering & Business teams from the Fintech firm.

Significance of the product

The product launched by PhonePe is relevant for key stakeholders like Indian government, policymakers, media, industry experts, regulatory agencies, local merchant partners, start-ups, students and academic institutions.  The data set, trends and stories can be used by these partners to gain a better understanding of consumer and merchant behaviour as well as to identify strategic growth opportunities.

About PhonePe

It is an Indian digital payments and financial services company with its headquarter in Bangalore. Company was founded by Sameer Nigam, Rahul Chari and Burzin Engineer in December 2015. Company also runs an app in its name called “PhonePe app”. The app went live in August 2016 and is based on the Unified Payments Interface (UPI). It is available in more than 11 Indian Languages.

Month: Current Affairs - September, 2021