- LATEST
- WEBSTORY
- TRENDING
BUSINESS
Meet man, who left high-paying job at Flipkart, built Paytm's biggest rival, now runs Rs 99400 crore company, he is…
Some of the leading FinTechs offering digital payments include Paytm, PhonePe, Cred, Razorpay, BharatPe, and Google Pay.
Updated : Jul 25, 2024, 05:37 PM IST
 "File pic")
TRENDING NOW
)
Meet IAS officer, aka 'Collector Bro', who cracked UPSC exam in 2007, now suspended due to...
)
After Sushmita Sen declares she is single, Rohman Shawl's statement goes viral: 'Voh to 6 saal se...'
)
Neeraj Goyat vs Whindersson Nunes LIVE streaming details: When and where to watch boxing match live in India?
)
Badshah lands in legal trouble, case registered against rapper for...
)
Pakistani TikTok star Minahil Malik's dance video goes viral amid MMS leak controversy, watch
)
Kanguva box office collection day 1: Suriya, Bobby Deol film fails to beat Indian 2, Vettaiyan; earns Rs...
)
Shah Rukh Khan, Aamir Khan refused to work with Aishwarya Rai in this film, it became blockbuster, won 4 National Awards
)
Meet actress who worked as sweeper, did superhit film with Shah Rukh, took up acting after Madhuri Dixit..., earns Rs..
)
Meet woman who worked as NASA scientist, left high-paying job to crack UPSC exam, became IRS then IPS officer with AIR...
)
New 700 km long expressway to be built in Uttar Pradesh, will connect Purvanchal to West UP, travel time will be...
)
'Any ex-boyfriend...': Salman Khan's viral statement on Aishwarya Rai's marriage amid Abhishek Bachchan divorce rumours
)
Internet fuming over BIZZARE fan reaction in Diljit Dosanjh concert, netizens say, 'better if asteroid hit earth'
)
Meet Imsha Rehman, Pakistani TikTok star who deactivated her accounts after video leak and Minahil Malik's MMS
)
'What's the fuss about': Amid divorce rumours with Abhishek, Aishwarya Rai talks about losing weight in viral video
)
7 times XXX, Gandii Baat actress Aabha Paul crashed the internet by flaunting her sexy curves
In terms of digital payments, India is leading the world. India leads the world in digital payments globally, with a commanding 46 percent share of the market. The rise of fintech firms in India has fundamentally altered consumer behaviour. Leading FinTech companies that provide digital payments include Google Pay, Paytm, PhonePe, Cred, Razorpay, and BharatPe. We will discuss the remarkable story of Phone Pay, one of the top FinTech companies in India with a valuation of Rs. 99,000 crore, today.
One of the leading businesses in the digital finance sector is Phone Pe. In 2015, Sameer Nigam, Rahul Chari, and Burjin Engineer co-founded PhonePe, which has grown to be a reputable and well-liked provider of financial solutions for millions of users. Before he had the idea to launch PhonePe, all three of them had worked at Flipkart. Sameer Nigam is the CEO of the fintech business. Sameer Nigam graduated with an MBA from the prestigious Wharton Business School and a master's degree in computer technology from the University of Arizona.
An important turning point in PhonePe's history was the latter's acquisition of the former for less than $20 million, which ushered in the company's collaboration with PhonePe. In 2018, Walmart acquired a majority stake in Flipkart, giving the retail giant indirect control over PhonePe. But in 2022, Flipkart and PhonePe made the decision to separate, enabling PhonePe to function on its own.
PhonePe provides a digital wallet and UPI payment services, among other financial services, to both consumers and companies. Users can easily send and receive money, pay bills, and make purchases of products and services using this platform. Furthermore, PhonePe offers cross-border UPI payment services. In 2023, it also introduced Pincode, an app for hyperlocal shopping and commerce that allows users to directly access goods and services in various locations.
PhonePe offers merchant loan services, advertising solutions, PhonePe Switch, offline payment goods, and payment gateway services to businesses. As of November 2023, PhonePe had over 500 million users and 37 million merchants in India. It held over 40% of the UPI market and over 45% of the Bharat Bill Pay System (BBPS). It is estimated that the corporation is worth $12 billion, or more than Rs 99,400 crore.
