1/12/2024 0 Comments Pes 2022 wikiPhonePe has also entered similar partnerships with Jio Money and Airtel Money. This partnership enabled PhonePe users to link their existing Freecharge wallets to the PhonePe app. PhonePe partnered with Freecharge in January 2018. The hardware uses Bluetooth connectivity and enables payments through all the mobile devices that can access the PhonePe app. The Bluetooth enabled POS device looks like a calculator and works with AA batteries. In October, PhonePe launched a low-cost POS device built in India. PhonePe helps merchants to accept payments through all UPI-based apps, debit and credit cards, as well as wallet (Including third party wallets) on the app. The PhonePe app overtook BHIM to become the market leader in UPI transactions in August 2017. In 2018, PhonePe became the fastest Indian payment app to get a five crore badge on the Google Play Store. Within three months of launch, the app was downloaded by over one crore users. In August 2016, the company partnered with Yes Bank to launch a UPI-based mobile payment app, based on the government-backed UPI platform. PhonePe's founder Sameer Nigam was appointed as the CEO of the company. In April 2016, the company was acquired by Flipkart and as part of the acquisition, the FxMart license was transferred to PhonePe and rebranded as the PhonePe wallet. PhonePe was incorporated in December 2015. PhonePe is licensed by the Reserve Bank of India for issuance and operation of a Semi Closed Prepaid Payment system with Authorisation Number: 75/2014 dated 22 August 2014. It currently has over 35 crore registered users with over 15 crore monthly active users. The app served more than 10 crore users as of June 2018, and processed 500 crore transactions by December 2019. PhonePe is accepted as a payment option by over 2.5 crore offline and online merchant outlets across 15,700 towns and villages. PhonePe also allows users to book their Ola rides, pay for Redbus tickets, book flights and hotels on Goibibo through its Switch platform. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, make utility payments, pay at shops, invest in tax saving funds, liquid funds, buy insurance, mutual funds, gold and silver. The PhonePe app is available in 11 Indian languages. It is owned by Flipkart, a subsidiary of Walmart. The PhonePe app, based on the Unified Payments Interface ( UPI), went live in August 2016. PhonePe was founded in December 2015, by Sameer Nigam, Rahul Chari and Burzin Engineer. PhonePe is an Indian digital payments and financial technology company headquartered in Bengaluru, Karnataka, India.
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