PhonePe is an Indian digital payments and financial technology company headquartered in Bengaluru, Karnataka, India.
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14 Facts About PhonePe
2.
PhonePe was founded in December 2015, by Sameer Nigam, Rahul Chari and Burzin Engineer.
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3.
The PhonePe app, based on the Unified Payments Interface, went live in August 2016.
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4.
PhonePe allows users to book their Ola rides, pay for Redbus tickets, book flights and hotels on Goibibo through its Switch platform.
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5.
In 2018, PhonePe became the fastest Indian payment app to get a five crore badge on the Google Play Store.
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6.
The PhonePe app overtook BHIM to become the market leader in UPI transactions in August 2017.
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7.
PhonePe helps merchants to accept payments through all UPI-based apps, debit and credit cards, as well as wallet on the app.
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9.
PhonePe launched tax-saving funds to help customers minimise their tax burden by investing in equity-linked saving schemes.
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10.
PhonePe launched Liquid Fund in association with Aditya Birla Mutual Fund to provide the combined benefits of a fixed deposit and a mutual fund.
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11.
PhonePe expanded its Mutual Funds lineup in the same month by launching 7 new categories.
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12.
In May 2022, PhonePe announced the acquisition of India-based Wealth Management fund WealthDesk for $50 million and Smart Beta Wealth Management Platform, OpenQ for $25 million.
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13.
On 14 January 2017, ICICI bank blocked PhonePe transactions, citing the reasons that it did not meet the NPCI guidelines.
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14.
PhonePe allots employee stock options to its full time employees.
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