PhonePe
PhonePe rolls out NPS account opening with Rs 250 contribution, no fresh KYC
PhonePe has introduced a digital process for users to open National Pension System accounts. This new facility allows an initial contribution of Rs 250 without needing to upload documents. Users can verify their linked bank accounts using OTPs and make payments through PhonePe UPI. The service is aimed at individuals looking to start retirement planning easily and flexibly. Future expansions will include additional banking partners to enhance accessibility.
BharatPe taps former Bajaj Finance executive Mohit Mittal to lead investments
He was previously the business head of investment marketplace at Bajaj Finance, where he helped build a digital platform with more than 50 financial institution partners. Before that, he spent over 13 years at Bajaj Capital, where he led an investment business with Rs 40,000 crore in assets under management across fixed-income and mutual fund products. He has also worked at ICICI Bank and Genpact.
Digital payments firms race to fortify defences as cyberattacks intensify
At Bengaluru-based Cashfree, attempted attacks have been taking place repeatedly over the past three weeks, occurring at least 10 times as frequently as a year ago, chief technology officer Ramkumar Venkatesan told ET. Attackers are increasingly combining multiple vulnerabilities to attack systems, he said.
Fintechs fortify cyber defences; Logistics cos in the speed lane
Happy Monday! Fintechs are stepping up security as AI-powered cyberattacks become more sophisticated. This and more in today’s ETtech Morning Dispatch.
Razorpay gets Sebi nod for Rs 5,000-6,000 crore IPO: sources
ET reported on April 20 that Razorpay was preparing a confidential IPO filing to raise Rs 5,500-6,500 crore at an expected valuation of $5 billion (Rs 49,000-50,000 crore), below the $7.5 billion (around Rs 6,000 crore then) it commanded in its last major private funding round in 2021.
PhonePe evolves its stock broking platform into PhonePe Invest, launches portfolio optimiser
The transition from Share.Market to PhonePe Invest, brings research-backed wealth management into PhonePe's unified financial ecosystem, alongside payments, lending and insurance.
Corporate offsites, incentive trips make a comeback as companies resume travel plans
Corporate offsites and incentive trips are witnessing a revival as companies resume travel plans. Businesses are now scheduling deferred trips alongside new programmes for enhanced team engagement. Popular destinations include both domestic locations like Goa and international options such as Japan and Thailand. Companies aim to create curated experiences that foster collaboration and learning among employees. The focus remains on building connections and strengthening team culture during these offsites.
PhonePe sees opportunity to bring everyday savers into equities with PhonePe Invest: Rahul Chari
PhonePe on Monday rebranded its investing and trading platform Share.Market as PhonePe Invest, bringing it into its broader financial ecosystem. The platform combines stocks, IPOs, mutual funds and F&O offerings with a newly launched Portfolio Optimiser, a proprietary tool to help users build, review and optimise their portfolios.
Why Walmart would rather keep Flipkart private, for now
Over the past few weeks, much has been written about former employees of the online commerce company writing to Walmart's board, asking for liquidity on the stock options they were granted 10 to 15 years ago. On October 1, at least eight former senior executives, among them former Myntra CEO Mukesh Bansal and former chief business officer Ankit Nagori, wrote to Walmart chairman Gregory Penner, other board members and Flipkart Group CEO Kalyan Krishnamurthy, seeking a complete exit for all former employees holding vested options.
Paytm targets one-third UPI market share as Sharma steps up consumer acquisition
Paytm currently accounts for about 8.1% of UPI transaction volumes, behind PhonePe's 45.6% and Google Pay's 32.2%, according to September data from the National Payments Corporation of India.
Zetwerk IPO fully subscribed; Super.money triples revenues
Zetwerk’s Rs 5,012-crore IPO was subscribed 3.06 times on Monday, the last day for bids. This and more in today’s ETtech Top 5.
5 ways to invest in gold this Dhanteras and Diwali: From jewellery and gold ETFs to digital gold
Gold purchasing sees a significant rise during Dhanteras and Diwali, celebrated for their cultural relevance. Investors can explore various avenues like physical gold, ETFs, and digital gold options.
ET Wealth Expo 2026: From building wealth to financial freedom, two days of insights for today’s investors
Mark your calendars for the ET Wealth Expo 2026, happening on October 30 and 31 at Mumbai's NESCO Convention Centre. This event promises to bring together top professionals for insightful discussions on investment strategies and wealth management. Attendees can expect sessions covering crucial topics such as intergenerational wealth transfer and global investment opportunities, alongside keynote speeches aimed at addressing future challenges in wealth management.
Will Rs 5 lakh crore bet on Jio open floodgates for India's mega IPOs?
Jio Platforms' recent IPO generated considerable public enthusiasm, showcasing a notable appetite for large-scale offerings among investors. This wave of interest could prompt other firms to accelerate their IPO plans. Experts suggest that the viability of future IPOs will hinge on prevailing market trends and investor mood. Additionally, the significant funds from Jio's IPO will soon be redirected into various investment avenues, potentially bolstering upcoming offerings and shaping pricing strategies.
YC-backed AI video creation startup Clueso raises $10 million led by Dharana Capital
The round saw participation from new investors Founders Future and Neotribe Ventures, along with existing investors Y Combinator and f7 Ventures. More than 80% of the fresh capital came from existing investors, the company said, taking its total capital-raise to $12 million.
UPI MDR rollout deferred beyond Diwali; date yet to be notified
NPCI framework, announced on September 15, was scheduled to take effect on October 15. It prescribed a 0.4% fee on eligible bank account-funded merchant payments above Rs 2,000, capped at Rs 300 per transaction.
Global IPO market faces setback as high-profile listings are scrapped, delayed in 2026
Several high-profile IPOs have been withdrawn, delayed or shelved in 2026 as market volatility and valuation concerns weigh on investor demand. From Firmus and Oura to PhonePe and KNDS, companies are reassessing public listings and fundraising plans.
IIT-Bombay study bats to cut MDR to 0.08 pc from 0.4 pc, exclude banks from taking bulk share
A report by IIT-Bombay professors recommends reducing the Merchant Discount Rate for UPI transactions to improve the ecosystem. The current rate of 0.40 percent should decrease to 0.08 percent for third-party application providers. Additionally, the study suggests that banks should not depend on transaction fees but use funds from CASA deposits. It emphasizes the development of necessary services to enhance trust in digital payments.
ETSA 2026: Over a decade on, India's startup story is only getting started
The 12th edition of The Economic Times Startup Awards (ETSA) captured this transition, reflecting an ecosystem that has moved beyond the race for scale to pursue technological depth, durable businesses and international markets.
The ET Startup Awards 2026 special
Happy Monday! The Economic Times Startup Awards (ETSA) 2026 ceremony brought together the country’s top founders, investors, and policymakers in Bengaluru for a Friday evening of sharp insights and spirited conversations.
Keep UPI free, govt should withdraw proposed charges: GTRI
The Global Trade Research Initiative has urged the government to withdraw the proposed UPI charges set for October 15. Introducing fees on UPI transactions may adversely affect small businesses and consumer spending. Maintaining free UPI supports broader digital payments and benefits banks and payment apps. The anticipated changes could lead to higher prices for consumers and reduced earnings for merchants.
UPI MDR spurs soundbox expansion beyond metros
The industry has scope to increase soundbox deployments from about two crore to five crore over time, a top official at the National Payments Corporation of India (NPCI) said, requesting anonymity.
ET Exclusive: Flipkart’s former suites write to Walmart board, seek fair treatment and full cash out of vested ESOPs
A group of former senior Flipkart executives has urged Walmart to buy back their vested stock options. This request comes after the company's plans for an initial public offering have been postponed again. Recent leadership changes at Flipkart have highlighted ongoing tensions between former executives and current management. The signatories argue that those who contributed to Flipkart's success deserve liquidity opportunities.
Sauce's Manu Chandra on consumer exits; Physical AI's regulation push
Sauce's Manu Chandra said he expects larger exits for investors of India's new-age consumer brands. This and more in today’s ETtech Morning Dispatch.
PhonePe to hire 20,000 staff, deploy 50 lakh payment devices in next year
In an ambitious move to bolster India's digital payment landscape, PhonePe is set to hire more than 20,000 sales professionals aimed at expanding its merchant network nationwide. The company plans to roll out over 50 lakh payment devices by next year, with a strong focus on Tier 6 towns and rural areas.
UPI transaction volume dips to 24.07 billion in September
Transaction volumes dipped 1.8% from 24.51 billion in August, while the value of transactions also fell marginally month on month. On a year on year basis, transaction volumes rose 23%, while value increased 18%.
PhonePe gets in-principle approval for two UAE payment licences
PhonePe has secured in-principle approval from the UAE central bank for two payment licences, marking its first international market entry. The company plans to work with local banks and payment firms and explore integration with domestic rails such as Aani and Jaywan once it receives final regulatory clearance.
PhonePe gets in-principle nod from UAE for first locally licensed overseas payments business
Walmart-backed PhonePe has received in-principle approval from the UAE central bank for two payments licences, paving the way for its first locally regulated payments business outside India. The company plans to work with local banks and payment providers and explore the UAE’s domestic payment rails, Aani and Jaywan.
Apple Pay India launch may change payments in iPhones: Expected date, banks supported, UPI access and features
Apple Pay is expected to launch in India next month with Axis Bank credit cards, ahead of wider bank support, Reuters reported. The service will focus on card based tap and pay payments through Face ID and Touch ID, separate from India's dominant UPI network, with HDFC Bank and ICICI Bank still finalising their own tie ups.
Your UPI payment just got a price tag: what it means for GST-registered taxpayers
NPCI, which manages UPI, has brought in a merchant discount rate of 0.4% on certain person-to-merchant UPI payments above Rs 2,000.
Big to get bigger: India's UPI fee shift to entrench dominant incumbents
PhonePe and Google Pay could earn about $900 million annually from India’s new UPI merchant fee regime by March 2028, according to Bernstein estimates, strengthening their already dominant position. The 0.4% fee on merchant transactions above Rs 2,000 could also encourage payment apps to expand in rural areas and push smaller rivals towards higher-value transactions.
Missed the NSE IPO? Here are 5 of the largest issues in the pipeline to keep on your radar
For those who missed out on the National Stock Exchange IPO, there's a silver lining: several major public offerings are on the horizon! Set to accumulate a staggering Rs 4.27 lakh crore, companies such as Jio Platforms and PhonePe are readying their IPOs. With some firms already greenlit by Sebi while others await approval, the market's robust activity suggests a ripe environment for upcoming public offerings and eager investors.
All 36 smallcap mutual funds deliver double digit returns in 6 months. Should you invest more or book profits?
In the last six months, all 36 smallcap mutual funds have achieved impressive double-digit returns, averaging around 25.20%. This indicates a robust recovery from prior dips. Financial experts advise investors to keep up their SIPs if they can handle the volatility. With smallcap valuations currently elevated, future success will hinge on sustained earnings growth.
JioStar secures 15 brands across eight categories for West Indies tour of India
JioStar has confirmed 15 sponsorships for the upcoming West Indies tour of India in 2026. The sponsors represent various categories including banking, wellness, and automotive. This series will consist of three ODIs and five T20Is starting in late September. The broadcaster aims to engage audiences through targeted advertising during the festive season. JioStar plans a six-month cricket calendar featuring multiple series with various touring teams.
Credit for the next 50 crore: How PhonePe’s new co-branded cards target India’s underserved
At GFF 2026, PhonePe unveiled a suite of co-branded credit cards with HDFC Bank and SBI, plus the Wishcard for consumers with limited or no credit history. The products build on UPI-era behaviour to tap into formal credit, aiming to bring rewards, flexibility and credit-history building to Gen Z, homemakers, freelancers and semi-urban India.
No smartphone, no internet? PhonePe brings UPI to 220 million feature-phone users
At the Global Fintech Fest 2026 in Mumbai, PhonePe announced UPI 123Pay support for its app on feature phones, taking the SMS-based, internet-free payments stack pre-loaded on HMD, Nokia, Lava and itel handsets to 200 million-plus Indians still on basic phones.
Amazon Pay India revenue rebounds 18% in FY26, loss widens 33% as costs rise
Revenue from operations grew 18.5% to Rs 2,484.4 crore during the fiscal under review, up from Rs 2,096.6 crore in FY25.
Indian diaspora founders account for $560 billion of overseas unicorn value: Report
The figure was calculated by dividing each company’s value equally among its founders and adding only the share of those who grew up in India. If one of four founders of a $10-billion company met that definition, $2.5 billion was counted. It does not represent actual shareholdings or personal wealth. The 205 companies had a total valuation of $1.09 trillion.
Rohit Sharma’s TV debut draws eight sponsors for Sony’s family game show
Rohit Sharma’s entertainment debut,Family Full House with Rohit Sharma, has signed eight sponsors ahead of its premiere on Sony Entertainment Television and Sony LIV. Skoda, PhonePe and Google Search AI Mode are among the top sponsors, as Sony looks to leverage Sharma’s popularity and the family-game format for brand integrations.
UPI MDR could bring transaction value into payment apps’ market-share battle, industry executives say
The new revenue stream could also draw banks and ecommerce companies into consumer UPI. Pine Labs chairman, managing director and chief executive officer Amrish Rau called the change a "life-changing opportunity" for the company.
PhonePe's Sameer Nigam unveils vision for next decade of financial inclusion at GFF 2026
PhonePe has shared its ambitious ten-year strategy aimed at transforming India's digital landscape and promoting financial inclusion. By eliminating obstacles like the necessity for smartphones or bank accounts, the company plans to facilitate broader access to digital finance. With innovative solutions like UPI 123Pay and UPI Circle, PhonePe is also making wealth building simpler through daily savings and investment choices, while enhancing credit availability and equipping merchants with advanced tools.
PhonePe and Visa partner to bring borderless, cardless payments to Indian consumers and merchants
Announced at Global Fintech Fest 2026, the partnership positions PhonePe as India’s first app to offer a unified suite of Visa-powered cardless payment solutions for consumers and micro-merchants.
'No fraud' enabled through card tokenisation on mobile devices: PhonePe founder Rahul Chari
PhonePe's Rahul Chari dismissed card tokenization security concerns, stating no fraud is enabled. The company launched three new payment solutions with Visa at the Global Fintech Festival. PhonePe now offers Cross Border Scan to Pay for international transactions. It also enables micro-merchants to accept card payments using its Smart Accept solution. Consumers can now make credit card payments using their phones at small merchants.
PhonePe to foray into UAE in maiden foreign outing
The company has received a licence from the Central Bank of UAE and will soon be operationalising the same, its founder Sameer Nigam told reporters on the sidelines of the annual Global Fintech Festival here. Through the licence, PhonePe will be able to undertake a slew of activities, including the launch its own wallet, gift card, remittance services for the diaspora and also do local merchant acquiring, he added.
“Whether we leave anyone behind”: Sameer Nigam’s blueprint for PhonePe’s second decade
At Global Fintech Fest 2026, PhonePe founder‑CEO Sameer Nigam framed the company’s first ten years as the construction of India’s financial rails and unveiled a second act tied to a single question: whose progress still remains outside the frame?
India consults banks, payment firms on fees for large UPI payments, sources say
India's payments authority is discussing charges on large UPI transactions. This follows a recent change in law allowing fees on payments over 2,000 rupees. Regulators are leaning towards a 0.4% charge for merchant transactions. Person-to-person payments will continue to remain free for users. This move is expected to generate significant annual revenue for the payments industry.
Explainer -- India's UPI MDR shake-up: What changes and why it matters
India will soon introduce a merchant discount rate on UPI payments. This fee applies to transactions exceeding two thousand rupees with merchants. Some small merchants and rural areas will be excluded from this new charge. This move aims to make the UPI system more self-sustainable and expand its reach. Consumers are not expected to directly pay these new transaction fees.
Decoding MDR’s impact; EV bikes’ policy change sparks debate
Happy Thursday! The return of MDR is set to change UPI's market share game. This and more in today's ETtech Morning Dispatch.
Digital gold may come under RBI, Sebi oversight; physical backing proposed
Discussions are underway to tighten digital gold rules, requiring physical bullion backing for every unit. The government is considering joint oversight by the Reserve Bank of India and Sebi. Digital gold, managing approximately three billion dollars in assets, is seen as an unregulated segment. Stakeholders agree that bringing this popular product under regulatory supervision is urgently needed.
Fintechs high on AI, but yet to let it handle your money
The Unified Payments Interface (UPI) processed 24.51 billion transactions worth Rs 29.82 lakh crore in August, according to data from the National Payments Corporation of India (NPCI). Executives said agentic commerce could sit above these rails, but would require verifiable customer mandates, links across banks and merchants, spending limits and audit trails for errors or disputes.
UPI's free lunch is over: Why the 0.4% MDR charge is fair, needed and overdue
Digital payment charges are necessary for service efficiency and wider reach. Person-to-person and small transactions remain free from new fees. This move supports competition and prevents market dominance by large corporations. Merchants are mandated not to pass these charges onto customers. The digital payments ecosystem requires investment for continued growth and innovation.
AI at population scale: Rahul Chari’s charter for the next 300 million
At Global Fintech Fest 2026, PhonePe co-founder and CPTO Rahul Chari laid out an AI philosophy built on intent-led experiences, engineering scale and operational efficiency.
NPCI announces MDR for UPI; merchant transactions above Rs 2,000 to attract 0.4% charge
While NPCI has not specified a threshold based on the size of a merchant’s turnover, it said in its announcement that vendors operating under the person-to-person merchant (P2PM) category will “enjoy a mandatory zero MDR”. Merchants in this category, typically small shopkeepers, street vendors and local businesses, are classified as those receiving less than Rs 1 lakh per month in their accounts through UPI.
Paisabazaar expands wealth push as it diversifies beyond unsecured credit
The PB Fintech-owned marketplace, which added fixed deposits and bonds last year, currently gets around two-thirds of its revenue from unsecured credit and a third from secured products. It is now looking to build a wealth business, comprising mutual funds, bonds and deposits, as another revenue stream.
ETtech Explainer: Who pays MDR on UPI and who does not
Starting on October 15, banks and payment applications will begin earning revenue from select merchant UPI transactions. Transactions under Rs 2000 will remain exempt from new fees, while person-to-person transfers and small vendor payments under Rs 1 lakh are still free. Merchants will incur a charge of up to forty basis points for transactions over Rs 2000.
Paytm will stay profitable even without MDR, government support: Vijay Shekhar Sharma
His comments come as the government moves towards allowing charges on a limited set of UPI transactions. On Monday, the government notified that UPI transactions of up to Rs 2,000 will remain free of MDR, while leaving the door open for levies on higher-value transactions.
TRUE ARTIS raises Rs 11.4 crore to expand network of premium aesthetic surgery centres
Seed round led by Zeropearl VC will support two new centres in Delhi NCR, expansion of specialist teams and technology-led patient care
Delhi train passengers, you can now leave your luggage behind: OTP-based digital lockers launched at major stations; check how to use them
Northern Railway has introduced an OTP-based digital luggage locker system at four major railway stations in Delhi, allowing passengers to store and retrieve their luggage independently and securely without assistance from railway staff. The facility is currently operational at New Delhi and Hazrat Nizamuddin stations, while Anand Vihar Terminal and Delhi Junction will become operational shortly. Passengers can use their mobile numbers for OTP verification, making the process of storing and collecting luggage convenient and hassle-free.
Daily vs weekly vs monthly SIP: Does investing more frequently create more wealth?
A comparative study of daily, weekly, and monthly SIPs across 5 active equity fund categories and 5 time horizons offers a clear answer.
No smartphone, no internet, no problem: PhonePe launches UPI 123Pay to let 200 million+ feature phone users make digital payments; here’s how it works
PhonePe has unveiled UPI 123Pay, a new service for feature phone users that enables seamless transactions without an internet connection. The initiative targets more than 200 million users, helping expand access to digital payments across India. It supports both peer-to-peer and merchant payments using mobile numbers or UPI IDs, with future updates expected to include bill payments and mobile recharges.
UPI MDR rates likely within a week, October rollout in sight
This comes after a Monday notificationfrom the Department of Financial Services that narrowed the zero-charge mandate for UPI. The earlier notification barred banks and payment system providers from levying a direct or indirect charge on UPI transactions, irrespective of value. The revised notification retains that protection only for transactions of up to Rs 2,000.
Fintech founders bet that the bot will become the buyer
Agentic commerce refers to AI-led shopping where software can search, compare, order, and pay on a user’s behalf. The National Payments Corporation of India (NPCI) is preparing the proposed Unified Agent Protocol to establish identity, consent, and accountability for agents transacting over the Unified Payments Interface (UPI).
‘Pulse’ check: How PhonePe is turning transaction data into market intelligence
In an exclusive conversation with The Economic Times, PhonePe’s Karthik Raghupathy explained how PulsePro was born out of demand for postal code-level analysis, deeper merchant-category insights and richer consumer demographic information.
Paytm karo, back in vogue again: Can the stock reclaim IPO price after 5 years and 480% rally?
Paytm shares have rebounded over 480% from their lifetime low but remain 20% below the Rs 2,150 IPO price. The introduction of MDR on select high-value UPI transactions could create a new revenue stream for the fintech, while merchant lending, operating leverage and AI initiatives may offer additional growth avenues.
UPI MDR notification likely to be out for businesses soon; banks may pocket bulk of 40 bps fee
The issuing bank would retain 40% of the fee, sources said. Third-party application providers such as PhonePe or Google Pay, and the acquiring bank would take 30% each. On a 40 bps MDR, that works out to roughly 16 bps for the bank and 12 bps each for the app and the acquirer. One basis point equals 0.01%, so a 40 bps MDR translates to a fee of 0.4% on the transaction value.
PhonePe launches UPI payments for feature phones on 123Pay
PhonePe has launched a UPI app for feature phones, allowing users to make payments without mobile data. The SMS-based PhonePe UPI 123Pay comes pre-installed on select Nokia, HMD, Lava and itel devices. The move targets India’s large feature-phone user base as UPI continues to see record transaction volumes.
UPI charges from October 15; Activate’s maiden fund
Happy Wednesday! The NPCI has announced charges on select UPI merchant payments. This and more in today's ETtech Morning Dispatch.
Amazon Now’s sales surge; govt’s stance on UPI charges
Happy Tuesday! Amazon's quick commerce arm is scaling fast, India head Samir Kumar told us. This and more in today’s ETtech Morning Dispatch.
IPO pile-up swells to Rs 4.67 lakh crore: Will money move from Sensex, Nifty to primary markets?
India's primary market is gearing up for a significant evolution, marked by a thriving IPO pipeline. With a stunning Rs 4.67 lakh crore poised from both approved and submitted IPOs, companies are eager to connect with investors. As capital reallocates towards quality and reasonable valuations, the success of key IPOs is set to sway overall market sentiment.
Flipkart's new Minutes app; Anthropic employee sounds alarm
Flipkart has launched a standalone app for its quick commerce unit Minutes. This and more in today’s ETtech Top 5.
NPCI working on protocols to authorise AI agents on UPI, says chairman Ajay Kumar Choudhary
India's NPCI is examining protocols for AI agent identification within the UPI ecosystem. This move aims to enable autonomous payments on the world's largest retail fast-payment network. The framework will allow AI agents to make small digital payments without user approval. Existing UPI capabilities will be built upon to support these agentic payments.
Rs 2.8 lakh crore out, Rs 47,000 crore in: Why FIIs are selling listed stocks but chasing IPOs
FIIs are increasingly turning to India’s primary market even as they withdraw heavily from listed stocks. Foreign investors have pulled nearly Rs 2.8 lakh crore from the secondary market in 2026 but invested over Rs 47,000 crore in IPOs. The shift reflects a preference for new sectors, large allocations at predetermined prices and greater control over entry costs.
MDR on UPI coming soon; India's new class of robot workers
Happy Friday! With a fee on UPI set to come into the picture soon, issuing banks are poised to claim the biggest slice. This and more in today’s ETtech Morning Dispatch.
SIP losses in the first two years? Staying invested for five years can reduce loss probability to zero: Report
A weak start does not necessarily mean an SIP will deliver poor long-term returns. A 20-year analysis by ShareMarket by PhonePe shows that most five-year SIPs recovered from weak or negative returns in the first two years, with nearly 69% eventually delivering double-digit annualised returns. The data also highlights how extending the investment horizon to seven or 10 years can significantly reduce loss risk and improve return consistency, underscoring the importance of patience and compounding in equity SIPs.
Paytm bets on workplace AI agents in pivot beyond payments
In an exciting new venture, Paytm is venturing beyond its established digital payments realm to launch Pi, an innovative service offering artificial intelligence agents specifically tailored for enterprise clients. This strategic move will focus on financial institutions in India and the UAE. After dedicating two years to perfecting a financial services AI model, Paytm hopes this expansion will significantly elevate revenue and profitability.
DPIIT inks MoU with PhonePe, Shell India to support startups
Under its collaboration with DPIIT, PhonePe will provide DPIIT-recognised startups with a range of benefits, including transaction credits through its payment gateway, access to the Indus AppStore, dedicated onboarding and support services, and opportunities for enhanced brand visibility.
UPI transaction volumes hit record high in August, cross 24.5 billion
Data released by the National Payments Corporation of India (NPCI) showed transaction volumes rose 3.6% from 23.66 billion in July, while the value of transactions dipped marginally month-on-month.
PhonePe's Rs 100 daily RD: How it works; app also adds FD investment option
With its latest feature, PhonePe now allows users to easily invest in daily recurring deposits via its user-friendly app. Starting investments is as easy as contributing Rs 100 daily through UPI AutoPay. Additionally, the app simplifies the digital handling of fixed deposits, which are secured up to Rs 5 lakh under the DICGC scheme. Best of all, users can withdraw their funds whenever they choose.
Building for scale, security and privacy: Inside PhonePe’s AI playbook
As AI capabilities become more deeply embedded across products and platforms, the interface itself becomes less visible. What matters is whether people can express what they want to do, in their own language, in their own way, and get the result they are looking for.
PhonePe racks up additional $200 million from Walmart in ongoing fundraise
The round is being raised at a pre-money valuation of $12 billion, making PhonePe the most valuable fintech in the country, surpassing payment services provider, Razorpay which was last valued at $7.5 billion.
PhonePe to help businesses read India's market pulse in real time
PhonePe has launched PhonePe PulsePro, an enterprise intelligence platform that converts aggregated and anonymised digital transaction data into hyperlocal, near real-time market insights. Built on PhonePe's payments network of 700 million users and 50 million merchants, the company said PulsePro will help businesses improve expansion planning, site selection, distribution strategy and category growth while tracking consumer behaviour and economic activity across India.
PhonePe shifts headquarters from Singapore to India
The fintech firm has moved businesses and subsidiaries of PhonePe Singapore, including its insurance broking services and wealth broking services, to PhonePe Pvt Ltd - India.
PhonePe claims one in four Indians now uses its app
PhonePe says registered user base has grown 28% over the past 12 months—from 273 million in January 2021 to 350 million in December 2021.
ETtech Explainer: Why PhonePe’s UPI lead lags Paytm’s profits
PhonePe's revenue grew while its net loss widened significantly in FY26. Paytm's revenue increased and it achieved profitability against a prior year loss. Paytm's cost management and financial services distribution drove its faster monetization. PhonePe's UPI dominance offers distribution but faces monetization challenges. Future growth for PhonePe hinges on operational efficiency and product diversification.
IPO-bound PhonePe trims FY25 loss to Rs 1,720 crore as revenue jumps 40% YoY to Rs 1,998 crore
PhonePe FY25 results: IPO-bound PhonePe, backed by Walmart, has significantly reduced its losses to Rs 1,720 crore in FY25, a 13.9% improvement year-over-year, while also achieving positive free cash flow. Revenue surged by 40% to Rs 7,115 crore, driven by payment services. Employee benefit costs increased due to higher salaries and share-based payments. The company is preparing for a $1.
PhonePe rolls out feature that safeguards users from making fraudulent transactions
PhonePe has launched ‘PhonePe Protect’, a new security tool to prevent fraud during digital payments. The feature warns users about suspicious numbers flagged by the Department of Telecommunications’ Financial Fraud Risk Indicator (FRI). It blocks risky transactions, provides alerts, and helps users make safer payment decisions in real time.
