Backed by Walmart, PhonePe plans to leverage its scale on UPI to drive cross-sell opportunities—a strategy widely adopted by consumer-focused fintech companies. However, what sets PhonePe apart is its vast user base.
At present, the overall user base of PhonePe is over 500 million. Of these, its merchant base is over 40 million.
"Given our strength in UPI, it makes sense for us to enable two key things: providing consumers with access to credit, and empowering merchants with higher spending capabilities through credit instruments," said Deep Agrawal, head of payments at PhonePe.
Company executives who Business Standard spoke with said digital payments in the form of UPI coupled with innovations from the National Payments Corporation of India (NPCI) in the form of RuPay credit cards, credit line on UPI and UPI Lite, among others, enables the firm to extend its offerings on both sides of its business—consumers and merchants.
Esta historia es de la edición December 05, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 05, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
A year of surprises: Triptii Dimri tops IMDb list of stars
Triptii Dimri is India's most popular star for 2024.
India's health at a sugar tipping point, 50% see glucose imbalance
India is witnessing a diabetes epidemic in the making, with multiple research reports indicating a surge in its prevalence across the country.
EPS subscribers with ₹1K pension rose 3% to 3.66 mn in FY24
The total number of pensioners receiving minimum assured pension of ₹1,000 under the Employee Pension Scheme (EPS) has increased by 3 per cent to 3.66 million in the financial year 2023-2024 (FY24) compared to the previous year, according to the data from the Employees' Provident Fund Organisation's (EPFO) latest annual report reviewed by Business Standard.
ARPU VS USERS: TELCOS' CALL
Telecom tariff hikes, rolled out in July after 30 months of logjam, are playing out in surprising ways
RISING HEALTH INSURANCE CLAIM SIZE Combine base policy, super topup for high coverage at optimal cost
The average health insurance claim payout on Policybazaar.com's platform increased from ₹62,014 in 2022-23 to ₹81,025 in 2024-25 (year-to-date), an increase of 30.7 per cent.
HEG up 32% as China tightens graphite grip
Rise has occurred over past 2 days, pushing stock to a 70-month high
Jungle Camps India sets ₹68-72 price band, IPO opens Dec 10
Jungle Camps India Ltd, which provides wildlife and conservation-focused lodges, on Wednesday announced a price band of ₹68-72 per share for its initial public offering (IPO), which will open on December 10 and close on December 12.
PropShare Platina, 1st SM Reit IPO, subscribed 1.11x
The initial public offering (IPO) of PropShare Platina, the first ever by a small and medium real estate investment trust (SM Reit), garnered 1.11 times subscription on Wednesday, the closing day.
Rising competition putting pressure on Avenue Supermarts
Shares of Avenue Supermarts, the operator of DMart retail chain of supermarkets and hypermarkets, have seen a correction of about 30 per cent from highs of ₹5,400 levels in September.
Kotak AMC to launch ₹2K cr private credit fund
Kotak Mahindra Asset Management Company (AMC) is set to enter the private credit market with the launch of a fund, which aims to raise between ₹1,500 crore and ₹2,000 crore, next month.
