Phone pay information

saurav kumar
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PhonePe is a digital payment company headquartered in Bangalore, India.[6] PhonePe was founded in December 2015,[3] by Sameer Nigam, Rahul Chari and Burzin Engineer.[7] The PhonePe app went live in August 2016 and was the first payment app built on Unified Payments Interface (UPI).[8]

 

The PhonePe app is available in over 11 Indian languages.[9] 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 and mutual funds and gold.[10] In addition PhonePe also allows users to book Ola rides, pay for Redbus tickets, order food on Freshmenu, eaf, fit and avail Goibibo Flight and Hotel services through Switch platform.[11]

 

PhonePe is accepted as a payment option at over 10 million[12] offline and online merchant outlets across 400 cities in India covering food, travel, groceries, medicines, movie tickets etc.[13] The app crossed 100 million user mark in June 2018[14] and also crossed 5 billion transactions in December 2019.[15] It currently has over 200 million users.[16] The company launched the PhonePe ATM in January 2020.[17] The PhonePe ATM allows neighbourhood Kirana stores to dispense cash in real-time to customers.

 

PhonePe is licensed by the Reserve Bank of India for issuance and operation of a Semi Closed Prepaid Payment system with Authorization Number: 75/2014 dated 22 August 2014.[18][19]

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