Technopedia Center
PMB University Brochure
Faculty of Engineering and Computer Science
S1 Informatics S1 Information Systems S1 Information Technology S1 Computer Engineering S1 Electrical Engineering S1 Civil Engineering

faculty of Economics and Business
S1 Management S1 Accountancy

Faculty of Letters and Educational Sciences
S1 English literature S1 English language education S1 Mathematics education S1 Sports Education
teknopedia

Flag Counter
  2. World Encyclopedia
  3. PhonePe - Wikipedia
PhonePe - Wikipedia
Extended-protected article
From Wikipedia, the free encyclopedia

PhonePe
Type of businessPrivate
Type of site
Digital payments & Financial services
Available inMultilingual (11)
Founded2015; 11 years ago (2015)
HeadquartersSalarpuria Softzone, Bengaluru, Karnataka,
India[1]
Area servedIndia
Founders
IndustryFintech, Financial services, Payment gateway
Services
RevenueIncrease ₹7,115 crore (US$840 million) (2025)[3]
ParentWalmart
URLphonepe.com
CommercialYes
RegistrationRequired
Users600 million[4]
Current statusActive
Native client(s) onAndroid
iOS

PhonePe is an Indian digital payments and financial services company, headquartered in Bengaluru.[5][6] It was founded in December 2015,[7][2] by Sameer Nigam, Rahul Chari and Burzin Engineer.[8] The PhonePe app, based on the Unified Payments Interface, went live in August 2016.[9][10]

The PhonePe app is accessible in 11 Indian languages.[11] It enables users to perform various financial transactions such as sending and receiving money, recharging mobile and DTH, making utility payments, conducting in-store payments.[12][13]

History

PhonePe was incorporated in December 2015.[14] In April 2016, the company was acquired by Flipkart[15][16] and as part of the acquisition, the FxMart license was transferred to PhonePe and rebranded as the PhonePe wallet. PhonePe's co-founder Sameer Nigam was appointed as the CEO of the company.[17]

In August 2016, the company partnered with Yes Bank to launch a UPI-based mobile payment app, based on the government-backed UPI platform.[18]

In December 2020, Flipkart and PhonePe declared a partial split, with Walmart maintaining its majority ownership in PhonePe and the two entities functioning independently.[19] In 2022, PhonePe shifted its domicile to India from Singapore and completed separation from Flipkart.[20]

In 2022, it launched international UPI payments, allowing Indian users traveling abroad to pay foreign merchants with Unified Payments Interface (UPI).[21][22]

In 2022, PhonePe obtained licensing from the Reserve Bank of India for operating a Semi-Closed Prepaid Payment system.[23]

In January 2023, PhonePe raised $350 million from General Atlantic, a US growth equity firm, at a pre-money valuation of $12 billion.[24] It raised another $100 million in primary capital in February 2023 from Ribbit Capital, Tiger Global, and TVS Capital Funds, followed by $200 million in primary capital from Walmart, and another $100 million from General Atlantic at the same valuation.[25][26]

In April 2023, PhonePe launched a new shopping app called 'Pincode', focused on hyperlocal e-commerce and built on top of the ONDC platform.[27] In August 2023, PhonePe launched Share.Market, a stock broking and mutual fund investment platform, via its subsidiary PhonePe Wealth Broking.[28][29][30] In February 2024, PhonePe introduced Indus Appstore, a mobile app store.[31][32][33]

In April 2025, PhonePe converted into a public company and changed its name from PhonePe Private Limited to PhonePe Limited as part of its preparations for an initial public offering.[34][35] According to media reports, in September 2025, PhonePe filed draft papers with SEBI for IPO via the confidential pre filing route.[36]

Awards and recognition

  • In 2018: Won the UPI Digital Innovation Award from NPCI in 2018.[37]
  • India Advertising Awards 2018 in the Telecom and Technology category[38]

On 14 January 2017, ICICI bank blocked PhonePe transactions, citing the reasons that it did not meet the NPCI guidelines.[39][40] Initially, on 19 January 2017, NPCI instructed ICICI to allow UPI transactions via PhonePe.[41] During this period, Airtel too blocked PhonePe transactions on its platforms.[42] A day later, on 20 January 2017, NPCI renounced the previous instructions citing the reason that PhonePe indeed violated the UPI norms.[43][44][45]

After this, PhonePe closed its operations on Flipkart's website,[46] to align itself with the terms stated in the updated verdict from NPCI. By February 2017, PhonePe resolved the issues with ICICI and Airtel.[47]

ESOP

PhonePe allots employee stock options (ESOPs) to its full-time employees.[48] In November 2021, PhonePe was reported to have conducted a buyback of ESOPs worth ₹1.35 billion (US$16 million), covering 75% of its current workforce who have completed at least a year of service.[49]

See also

References

  1. ^ "Contact Us". PhonePe, Pvt Ltd. 15 March 2015. Archived from the original on 3 May 2020. Retrieved 29 September 2019.
  2. ^ a b "Tech in Asia - Connecting Asia's startup ecosystem". Tech in Asia. Archived from the original on 25 December 2018. Retrieved 20 February 2017.
  3. ^ "PhonePe cuts losses to ₹1,727.4 crore as revenue climbs 40%". The Hindu. 22 September 2025. Retrieved 3 November 2025.
  4. ^ TNIE online desk (24 September 2025). "PhonePe files draft papers for $1.5 billion IPO". The New Indian Express. Retrieved 3 November 2025.
  5. ^ Singh, Abhinav (10 March 2020). "Why digital payment firms should not rely on single bank". The Week. Archived from the original on 29 November 2022. Retrieved 11 March 2023.
  6. ^ "Top ten Indian Fintech unicorns - ET BFSI". ETBFSI.com. Archived from the original on 31 March 2023. Retrieved 29 March 2023.
  7. ^ "IBLA 2023: Walmart-backed PhonePe is this edition's 'Young Turk of The Year' - CNBC TV18". CNBCTV18. 2 December 2023. Retrieved 7 November 2024.
  8. ^ Chanchani, Madhav (4 April 2016). "Flipkart acquires former executive's startup PhonePe for payments push". The Economic Times. Archived from the original on 2 February 2023. Retrieved 11 March 2023.
  9. ^ Sen, Anirban (10 January 2017). "Flipkart's PhonePe crosses 10 million downloads on Google Play Store". Mint. Archived from the original on 27 November 2022. Retrieved 11 March 2023.
  10. ^ "PhonePe offers guaranteed cashback on gold, silver: Here are details". The Times of India. 29 October 2021. ISSN 0971-8257. Retrieved 7 November 2024.
  11. ^ "5 digital payment platforms you can use during Coronavirus Lockdown". India Today. 20 April 2020. Archived from the original on 18 September 2020. Retrieved 19 July 2020.
  12. ^ "PhonePe launches silver investments; allows users to buy silver coins and bars". cnbctv18.com. 30 September 2021. Archived from the original on 6 February 2023. Retrieved 29 January 2022.
  13. ^ Dasgupta, Brinda (23 March 2018). "Payments platform PhonePe looks to double its team". The Times Of India. Archived from the original on 30 November 2022. Retrieved 11 March 2023.
  14. ^ "Flipkart : India's most preferred online shopping store". The Indian Wire. 3 July 2018. Archived from the original on 6 August 2020. Retrieved 14 February 2020.
  15. ^ "Flipkart acquires mobile payments firm PhonePe". BusinessLine. 1 April 2016. Retrieved 7 November 2024.
  16. ^ "Flipkart acquires former executive's startup PhonePe for payments push". The Economic Times. Archived from the original on 25 December 2018. Retrieved 20 February 2017.
  17. ^ Raj, Ritik. "Meet man who once worked at Flipkart, now runs Rs 99400 crore company, he is…". DNA India. Retrieved 7 November 2024.
  18. ^ Sahay, Priyanka (29 August 2016). "Flipkart's PhonePe ties up with Yes Bank to launch UPI-based app". Live Mint.
  19. ^ Singh, Manish (23 December 2022). "Flipkart and PhonePe complete separation". TechCrunch. Archived from the original on 7 June 2023. Retrieved 29 March 2023.
  20. ^ "PhonePe turns profitable excluding Esop costs in FY24". The Times of India. 26 August 2024. Retrieved 27 January 2026.
  21. ^ "Walmart-owned PhonePe to enable UPI activation on Aadhaar-based OTP". Business Standard. 9 November 2022. Archived from the original on 31 March 2023. Retrieved 29 March 2023.
  22. ^ "PhonePe allows cross-border UPI payments in UAE, Singapore". The Hindu. 7 February 2023. ISSN 0971-751X. Retrieved 7 November 2024.
  23. ^ "Reserve Bank of India - Publications". rbi.org.in. Archived from the original on 25 December 2018. Retrieved 20 February 2017.
  24. ^ Rawat, Aman (19 January 2023). "PhonePe raises $350 mn from General Atlantic at $12 bn valuation". mint. Archived from the original on 19 April 2023. Retrieved 29 March 2023.
  25. ^ "PhonePe raises $100 million in additional funding". Financialexpress. 15 February 2023. Archived from the original on 4 April 2023. Retrieved 29 March 2023.
  26. ^ "PhonePe gets another $100 million from General Atlantic; total funding rises to $850 million". The Economic Times. 23 May 2023. ISSN 0013-0389. Retrieved 26 July 2023.
  27. ^ "PhonePe's Pincode Takes on Blinkit, Instamart Across Metros in Quick Commerce Game". Outlook Business. 27 November 2024. Retrieved 6 March 2025.
  28. ^ "PhonePe continues to earn nearly entire revenue from payments business". VCCircle. Retrieved 6 March 2025.
  29. ^ "PhonePe launches Share.Market app, enters stock broking business". Livemint.
  30. ^ "PhonePe enters online stock broking with a new app". The Hindu. 30 August 2023. ISSN 0971-751X. Retrieved 6 March 2025.
  31. ^ "PhonePe's Indus Appstore surpasses 1 mn installations in 1 month". www.fortuneindia.com. 5 March 2024. Retrieved 6 March 2025.
  32. ^ "PhonePe's Indus Appstore Crosses 1 Million Installations Within A Month". Outlook Business. 18 March 2024. Retrieved 6 March 2025.
  33. ^ "PhonePe diversification strategy pays off, high revenue growth likely to sustain". Moneycontrol. Archived from the original on 3 September 2024. Retrieved 6 March 2025.
  34. ^ "UPI market leader PhonePe becomes a public company ahead of IPO". Moneycontrol. 18 April 2025. Retrieved 3 November 2025.
  35. ^ "PhonePe becomes public company amid mega IPO preparations". mint. 18 April 2025. Retrieved 3 November 2025.
  36. ^ "PhonePe files draft prospectus for $1.5 billion IPO with Sebi through confidential route". The Economic Times. 24 September 2025. Retrieved 3 November 2025.
  37. ^ Kannan, Uma (6 August 2018). "PhonePe eyes top slot in digital payments". Deccan Herald. Archived from the original on 27 November 2021. Retrieved 11 March 2023.
  38. ^ "MullenLowe Lintas Group and Ogilvy dominate the IndIAA Awards". Campaign India. 31 August 2018. Retrieved 19 April 2024.
  39. ^ Sen, Anirban (14 January 2017). "ICICI blocks PhonePe transactions in sign of banks moving to protect payments turf". Mint. Archived from the original on 25 December 2018. Retrieved 20 February 2017.
  40. ^ Peermohamed, Alnoor (16 January 2017). "ICICI Bank blocks transactions through Flipkart wallet PhonePe". Business Standard. Archived from the original on 25 December 2018. Retrieved 20 February 2017.
  41. ^ "NPCI instructs ICICI to allow UPI transactions on PhonePe immediately". The Economic Times. Archived from the original on 25 December 2018. Retrieved 20 February 2017.
  42. ^ "After ICICI Bank, Airtel also blocks PhonePe - The Economic Times". The Economic Times. Archived from the original on 25 December 2018. Retrieved 20 February 2017.
  43. ^ "NPCI says Flipkart's PhonePe does not follow UPI rules - The Economic Times". The Economic Times. Archived from the original on 25 December 2018. Retrieved 20 February 2017.
  44. ^ IANS (21 January 2017). "PhonePe app in breach of UPI guidelines: NPCI". Business Standard. Archived from the original on 25 December 2018. Retrieved 20 February 2017.
  45. ^ PTI (20 January 2017). "PhonePe in violation of UPI norms, says NPCI in U-turn". Mint. Archived from the original on 25 December 2018. Retrieved 20 February 2017.
  46. ^ Nair, Vishwanath (21 January 2017). "PhonePe stops all UPI-based payments on Flipkart website". Mint. Archived from the original on 25 December 2018. Retrieved 20 February 2017.
  47. ^ "ICICI Bank resumes UPI transactions on PhonePe - The Economic Times". The Economic Times. Archived from the original on 25 December 2018. Retrieved 20 February 2017.
  48. ^ Abrar, Peerzada (4 February 2021). "PhonePe distributes ESOPs worth Rs 1,500 crore among all employees". Business Standard India. Archived from the original on 6 February 2023. Retrieved 29 March 2021.
  49. ^ "PhonePe announces ₹135 cr ESOPs buyback programme from employees this year". Live Mint.
Sunting pranala
url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url url
Pusat Layanan

UNIVERSITAS TEKNOKRAT INDONESIA | ASEAN's Best Private University
Jl. ZA. Pagar Alam No.9 -11, Labuhan Ratu, Kec. Kedaton, Kota Bandar Lampung, Lampung 35132
Phone: (0721) 702022
Email: pmb@teknokrat.ac.id