PhonePe: Difference between revisions

PhonePe
Type of business	Private
Type of site	Digital payments & Financial services
Available in	Multilingual (11)
Founded	2015; 11 years ago
Headquarters	Salarpuria Softzone, Bengaluru, Karnataka, India
Area served	India
Founder(s)	Sameer Nigam; (Co-Founder & CEO); Rahul Chari; (Co-Founder & CTO); Burzin Engineer; (Co-Founder & CRO);
Industry	Fintech, Financial services, Payment gateway
Services	Payment systems; Financial services;
Revenue	₹7,115 crore (US$1.0 billion) (2025)
Parent	Walmart
Website	phonepe.com
Commercial	Yes
Registration	Required
Users	600 million
Current status	Active
Native client(s) on	Android; iOS

← Older edit

VisualWikitext

Latest revision as of 22:50, 6 March 2026

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[edit | edit source]

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[edit | edit source]

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

Legal challenges[edit | edit source]

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[edit | edit source]

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$19 million), covering 75% of its current workforce who have completed at least a year of service.^[49]

References[edit | edit source]

↑ "Contact Us". PhonePe, Pvt Ltd. 15 March 2015. Archived from the original on 3 May 2020. Retrieved 29 September 2019.
↑ ^2.0 ^2.1 "Tech in Asia - Connecting Asia's startup ecosystem". Tech in Asia. Archived from the original on 25 December 2018. Retrieved 20 February 2017.
↑ "PhonePe cuts losses to ₹1,727.4 crore as revenue climbs 40%". The Hindu. 22 September 2025. Retrieved 3 November 2025.
↑ TNIE online desk (24 September 2025). "PhonePe files draft papers for $1.5 billion IPO". The New Indian Express. Retrieved 3 November 2025.
↑ 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.
↑ "Top ten Indian Fintech unicorns - ET BFSI". ETBFSI.com. Archived from the original on 31 March 2023. Retrieved 29 March 2023.
↑ "IBLA 2023: Walmart-backed PhonePe is this edition's 'Young Turk of The Year' - CNBC TV18". CNBCTV18. 2 December 2023. Retrieved 7 November 2024.
↑ 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.
↑ 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.
↑ "PhonePe offers guaranteed cashback on gold, silver: Here are details". The Times of India. 29 October 2021. ISSN 0971-8257. Retrieved 7 November 2024.
↑ "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.
↑ "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.
↑ 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.
↑ "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.
↑ "Flipkart acquires mobile payments firm PhonePe". BusinessLine. 1 April 2016. Retrieved 7 November 2024.
↑ "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.
↑ Raj, Ritik. "Meet man who once worked at Flipkart, now runs Rs 99400 crore company, he is…". DNA India. Retrieved 7 November 2024.
↑ Sahay, Priyanka (29 August 2016). "Flipkart's PhonePe ties up with Yes Bank to launch UPI-based app". Live Mint.
↑ Singh, Manish (23 December 2022). "Flipkart and PhonePe complete separation". TechCrunch. Archived from the original on 7 June 2023. Retrieved 29 March 2023.
↑ "PhonePe turns profitable excluding Esop costs in FY24". The Times of India. 26 August 2024. Retrieved 27 January 2026.
↑ "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.
↑ "PhonePe allows cross-border UPI payments in UAE, Singapore". The Hindu. 7 February 2023. ISSN 0971-751X. Retrieved 7 November 2024.
↑ "Reserve Bank of India - Publications". rbi.org.in. Archived from the original on 25 December 2018. Retrieved 20 February 2017.
↑ 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.
↑ "PhonePe raises $100 million in additional funding". Financialexpress. 15 February 2023. Archived from the original on 4 April 2023. Retrieved 29 March 2023.
↑ "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.
↑ "PhonePe's Pincode Takes on Blinkit, Instamart Across Metros in Quick Commerce Game". Outlook Business. 27 November 2024. Retrieved 6 March 2025.
↑ "PhonePe continues to earn nearly entire revenue from payments business". VCCircle. Retrieved 6 March 2025.
↑ "PhonePe launches Share.Market app, enters stock broking business". Livemint.
↑ "PhonePe enters online stock broking with a new app". The Hindu. 30 August 2023. ISSN 0971-751X. Retrieved 6 March 2025.
↑ "PhonePe's Indus Appstore surpasses 1 mn installations in 1 month". www.fortuneindia.com. 5 March 2024. Retrieved 6 March 2025.
↑ "PhonePe's Indus Appstore Crosses 1 Million Installations Within A Month". Outlook Business. 18 March 2024. Retrieved 6 March 2025.
↑ "PhonePe diversification strategy pays off, high revenue growth likely to sustain". Moneycontrol. Archived from the original on 3 September 2024. Retrieved 6 March 2025.
↑ "UPI market leader PhonePe becomes a public company ahead of IPO". Moneycontrol. 18 April 2025. Retrieved 3 November 2025.
↑ "PhonePe becomes public company amid mega IPO preparations". mint. 18 April 2025. Retrieved 3 November 2025.
↑ "PhonePe files draft prospectus for $1.5 billion IPO with Sebi through confidential route". The Economic Times. 24 September 2025. Retrieved 3 November 2025.
↑ 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.
↑ "MullenLowe Lintas Group and Ogilvy dominate the IndIAA Awards". Campaign India. 31 August 2018. Retrieved 19 April 2024.
↑ 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.
↑ 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.
↑ "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.
↑ "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.
↑ "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.
↑ 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.
↑ 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.
↑ 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.
↑ "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.
↑ 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.
↑ "PhonePe announces ₹135 cr ESOPs buyback programme from employees this year". Live Mint.

External links[edit | edit source]

www.phonepe.com

Template:Digital payment providers Template:FinTech in India Template:Flipkart

[1] "Contact Us". PhonePe, Pvt Ltd. 15 March 2015. Archived from the original on 3 May 2020. Retrieved 29 September 2019.

[:0-2] 2.0 ^2.1 "Tech in Asia - Connecting Asia's startup ecosystem". Tech in Asia. Archived from the original on 25 December 2018. Retrieved 20 February 2017.

[w120-3] "PhonePe cuts losses to ₹1,727.4 crore as revenue climbs 40%". The Hindu. 22 September 2025. Retrieved 3 November 2025.

[j067-4] 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.

[:4-11] "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.

[:7-19] Singh, Manish (23 December 2022). "Flipkart and PhonePe complete separation". TechCrunch. Archived from the original on 7 June 2023. Retrieved 29 March 2023.

[b233-20] "PhonePe turns profitable excluding Esop costs in FY24". The Times of India. 26 August 2024. Retrieved 27 January 2026.

[:6-21] "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.

[v539-34] "UPI market leader PhonePe becomes a public company ahead of IPO". Moneycontrol. 18 April 2025. Retrieved 3 November 2025.

[p351-35] "PhonePe becomes public company amid mega IPO preparations". mint. 18 April 2025. Retrieved 3 November 2025.

[h184-36] "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.

[Campaign_India_2018_z755-38] "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.

[1]

[2]

[3]

[4]

[5]

[6]

[7]

[8]

[9]

[10]

[11]

[12]

[13]

[14]

[15]

[16]

[17]

[18]

[19]

[20]

[21]

[22]

[23]

[24]

[25]

[26]

[27]

[28]

[29]

[30]

[31]

[32]

[33]

[34]

[35]

[36]

[37]

[38]

[39]

[40]

[41]

[42]

[43]

[44]

[45]

[46]

[47]

[48]

[49]

@@ Line 1: / Line 1: @@
-{{short description|Indian financial MR technology company}}
+{{short description|Indian financial technology company}}
+{{pp-extended|small=yes}}
-{{Multiple issues|
-{{Cleanup|reason=promotional|date=August 2023}}
-{{Peacock|date=August 2023}}
-{{COI|date=August 2023}}
-}}
 {{Use Indian English|date=September 2019}}
 {{Use dmy dates|date=September 2019}}
@@ Line 15: / Line 9: @@
 | type = Digital payments & [[Financial services]]
 | company_type = [[Privately held company|Private]]
-| language = [[Multilingual]] (11)<ref name=":4" />
+| language = [[Multilingual]] (11)
 | founded = {{Start date and age|2015||}}
-| area_served = [[India]]
+| area_served = India
 | founder = {{Unbulleted_list|Sameer Nigam<ref name=":0">{{Cite web|url=https://www.techinasia.com/phone-pe-has-big-goals|title=Tech in Asia - Connecting Asia's startup ecosystem|website=[[Tech in Asia]]|language=en-US|access-date=2017-02-20|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235405/https://www.techinasia.com/phone-pe-has-big-goals|url-status=live}}</ref><br>{{small|([[Organizational founder|Co-Founder]] & [[Chief executive officer|CEO]])}}|Rahul Chari<br>{{small|([[Organizational founder|Co-Founder]] & [[Chief technology officer|CTO]])}}|Burzin Engineer<br>{{small|([[Organizational founder|Co-Founder]] & [[Corporate title#Senior management|CRO]])}}}}
-| industry = [[Internet]], [[E-commerce]], [[Fintech]], [[Financial services]], [[Mutual funds]], [[Insurance]], [[Digital gold]], [[Payment gateway]]
+| industry = [[Fintech]], [[Financial services]], [[Payment gateway]]
-| services = {{hlist| [[Digital wallet|Digital payments]]|[[Mobile payment]]s|[[Payment system]]s|[[Financial services]]|Merchant payments|[[Mutual fund]]s|[[Insurance]]|[[Digital gold]]|[[Payment gateway]]}}
+| services = {{hlist||[[Payment system]]s|[[Financial services]]|}}
-| revenue = {{increase}} [[₹]]1646 crore ([[USD]] $199.3 million) (FY 2021-22)<ref>{{cite news |title=PhonePe records ₹1,646 cr revenue in FY22 |url=https://www.thehindubusinessline.com/companies/phonepe-records-1646-cr-revenue-in-fy22/article66027296.ece |work=www.thehindubusinessline.com |date=18 October 2022 |language=en |access-date=15 June 2023 |archive-date=17 November 2022 |archive-url=https://web.archive.org/web/20221117134047/https://www.thehindubusinessline.com/companies/phonepe-records-1646-cr-revenue-in-fy22/article66027296.ece |url-status=live }}</ref><ref>{{cite news |last1=Abrar |first1=Peerzada |title=PhonePe's revenue grew 85% to Rs 690 cr in FY21, losses drop by 44% |url=https://www.business-standard.com/article/companies/phonepe-s-revenue-grew-85-to-rs-690-cr-in-fy21-losses-drop-by-44-121101401407_1.html |access-date=18 November 2021 |work=Business Standard India |date=14 October 2021 |archive-date=18 November 2021 |archive-url=https://web.archive.org/web/20211118124632/https://www.business-standard.com/article/companies/phonepe-s-revenue-grew-85-to-rs-690-cr-in-fy21-losses-drop-by-44-121101401407_1.html |url-status=live }}</ref>
+| revenue = {{increase}} {{INRConvert|7115|c}} (2025)<ref name="w120">{{cite web | title=PhonePe cuts losses to ₹1,727.4 crore as revenue climbs 40% | website=The Hindu | date=2025-09-22 | url=https://www.thehindu.com/business/phonepe-cuts-losses-to-17274-crore-as-revenue-climbs-40/article70081985.ece | access-date=2025-11-03}}</ref>
 | parent = [[Walmart]]
 | subsidiaries =
@@ Line 27: / Line 21: @@
 | registration = Required
 | commercial = Yes
-| users = 45 [[crore]]<ref name="BQ prime"/><ref name=":3" />
+| users = 600 million<ref name="j067">{{cite web | author=TNIE online desk | title=PhonePe files draft papers for $1.5 billion IPO | website=The New Indian Express | date=2025-09-24 | url=https://www.newindianexpress.com/business/2025/Sep/24/phonepe-files-draft-papers-for-15-billion-ipo | access-date=2025-11-03}}</ref>
 | current_status = Active
 | native_clients = [[Android (operating system)|Android]]<br />[[iOS]]
@@ Line 34: / Line 28: @@
 }}
-'''PhonePe''' is an Indian [[Digital wallet|digital payments]] and financial services company<ref>{{Cite web |date=2020-08-25 |title=PhonePe Becomes Fastest Growing Distributor of Insurance Technology in India |url=https://deccan.news/phonepe-becomes-fastest-growing-distributor-of-insurance-technology-in-india/ |url-status=live |archive-url=https://web.archive.org/web/20210114072030/https://deccan.news/phonepe-becomes-fastest-growing-distributor-of-insurance-technology-in-india/ |archive-date=14 January 2021 |access-date=2021-03-29 |website=Deccan News |language=en-US}}</ref> headquartered in [[Bengaluru]], [[Karnataka]], [[India]].<ref>{{cite news|last1=Singh|first1=Abhinav|date=10 March 2020|title=Why digital payment firms should not rely on single bank|language=en|work=The Week|url=https://www.theweek.in/news/biz-tech/2020/03/10/why-digital-payment-firms-should-not-rely-on-single-bank.html|access-date=11 March 2023|archive-date=29 November 2022|archive-url=https://web.archive.org/web/20221129042605/https://www.theweek.in/news/biz-tech/2020/03/10/why-digital-payment-firms-should-not-rely-on-single-bank.html|url-status=live}}</ref><ref>{{Cite web |title=Top ten Indian Fintech unicorns - ET BFSI |url=https://bfsi.economictimes.indiatimes.com/news/fintech/top-ten-indian-fintech-unicorns/83838113 |access-date=2023-03-29 |website=ETBFSI.com |language=en |archive-date=31 March 2023 |archive-url=https://web.archive.org/web/20230331113105/https://bfsi.economictimes.indiatimes.com/news/fintech/top-ten-indian-fintech-unicorns/83838113 |url-status=live }}</ref> PhonePe was founded in December 2015,<ref name=":0" /> by Sameer Nigam, Rahul Chari and Burzin Engineer.<ref>{{cite news|last1=Chanchani|first1=Madhav|date=4 April 2016|title=Flipkart acquires former executive's startup PhonePe for payments push|work=[[The Economic Times]]|url=https://economictimes.indiatimes.com/small-biz/startups/flipkart-acquires-former-executives-startup-phonepe-for-payments-push/articleshow/51643300.cms|access-date=11 March 2023|archive-date=2 February 2023|archive-url=https://web.archive.org/web/20230202082501/https://economictimes.indiatimes.com/small-biz/startups/flipkart-acquires-former-executives-startup-phonepe-for-payments-push/articleshow/51643300.cms|url-status=live}}</ref> The PhonePe app, based on the [[Unified Payments Interface]] ([[Unified Payments Interface|UPI]]), went live in August 2016.<ref>{{Cite news|last1=Sen|first1=Anirban|date=January 10, 2017|title=Flipkart's PhonePe crosses 10 million downloads on Google Play Store|work=[[Mint (newspaper)|Mint]]|url=https://www.livemint.com/Companies/UYnMwPyHD8KKZZUJpb7uMP/Flipkarts-PhonePe-crosses-10-million-downloads-on-Google-Pl.html|access-date=11 March 2023|archive-date=27 November 2022|archive-url=https://web.archive.org/web/20221127042832/https://www.livemint.com/Companies/UYnMwPyHD8KKZZUJpb7uMP/Flipkarts-PhonePe-crosses-10-million-downloads-on-Google-Pl.html|url-status=live}}</ref>
+'''PhonePe''' is an Indian [[Digital wallet|digital payments]] and financial services company, headquartered in [[Bengaluru]].<ref>{{cite news|last1=Singh|first1=Abhinav|date=10 March 2020|title=Why digital payment firms should not rely on single bank|language=en|work=The Week|url=https://www.theweek.in/news/biz-tech/2020/03/10/why-digital-payment-firms-should-not-rely-on-single-bank.html|access-date=11 March 2023|archive-date=29 November 2022|archive-url=https://web.archive.org/web/20221129042605/https://www.theweek.in/news/biz-tech/2020/03/10/why-digital-payment-firms-should-not-rely-on-single-bank.html|url-status=live}}</ref><ref>{{Cite web |title=Top ten Indian Fintech unicorns - ET BFSI |url=https://bfsi.economictimes.indiatimes.com/news/fintech/top-ten-indian-fintech-unicorns/83838113 |access-date=2023-03-29 |website=ETBFSI.com |language=en |archive-date=31 March 2023 |archive-url=https://web.archive.org/web/20230331113105/https://bfsi.economictimes.indiatimes.com/news/fintech/top-ten-indian-fintech-unicorns/83838113 |url-status=live }}</ref> It was founded in December 2015,<ref>{{Cite web |date=2023-12-02 |title=IBLA 2023: Walmart-backed PhonePe is this edition's 'Young Turk of The Year' - CNBC TV18 |url=https://www.cnbctv18.com/business/ibla-2023-phonepe-young-turk-of-the-year-sameer-nigam-fund-raise-valuation-upi-payments-18465361.htm |access-date=2024-11-07 |website=CNBCTV18 |language=en}}</ref><ref name=":0" /> by Sameer Nigam, Rahul Chari and Burzin Engineer.<ref>{{cite news|last1=Chanchani|first1=Madhav|date=4 April 2016|title=Flipkart acquires former executive's startup PhonePe for payments push|work=[[The Economic Times]]|url=https://economictimes.indiatimes.com/small-biz/startups/flipkart-acquires-former-executives-startup-phonepe-for-payments-push/articleshow/51643300.cms|access-date=11 March 2023|archive-date=2 February 2023|archive-url=https://web.archive.org/web/20230202082501/https://economictimes.indiatimes.com/small-biz/startups/flipkart-acquires-former-executives-startup-phonepe-for-payments-push/articleshow/51643300.cms|url-status=live}}</ref> The PhonePe app, based on the [[Unified Payments Interface]], went live in August 2016.<ref>{{Cite news|last1=Sen|first1=Anirban|date=10 January 2017|title=Flipkart's PhonePe crosses 10 million downloads on Google Play Store|work=[[Mint (newspaper)|Mint]]|url=https://www.livemint.com/Companies/UYnMwPyHD8KKZZUJpb7uMP/Flipkarts-PhonePe-crosses-10-million-downloads-on-Google-Pl.html|access-date=11 March 2023|archive-date=27 November 2022|archive-url=https://web.archive.org/web/20221127042832/https://www.livemint.com/Companies/UYnMwPyHD8KKZZUJpb7uMP/Flipkarts-PhonePe-crosses-10-million-downloads-on-Google-Pl.html|url-status=live}}</ref><ref>{{Cite news |date=2021-10-29 |title=PhonePe offers guaranteed cashback on gold, silver: Here are details |url=https://timesofindia.indiatimes.com/gadgets-news/phonepe-offers-guaranteed-cashback-on-gold-silver/articleshow/87364688.cms |access-date=2024-11-07 |work=The Times of India |issn=0971-8257}}</ref>
-The PhonePe app is available in 11 [[Languages of India|Indian languages]].<ref name=":4">{{Cite web|date=20 April 2020|title=5 digital payment platforms you can use during Coronavirus Lockdown|url=https://www.indiatoday.in/information/story/5-digital-payment-platforms-you-can-use-to-make-payment-during-coronavirus-lockdown-1668921-2020-04-20|access-date=2020-07-19|website=India Today|language=en|archive-date=18 September 2020|archive-url=https://web.archive.org/web/20200918205425/https://www.indiatoday.in/information/story/5-digital-payment-platforms-you-can-use-to-make-payment-during-coronavirus-lockdown-1668921-2020-04-20|url-status=live}}</ref> Using PhonePe, users can send and receive money, recharge mobile, [[Satellite television|DTH]], data cards, make utility payments, pay at shops, invest in tax saving funds, liquid funds, buy insurance, [[Mutual funds in India|mutual funds]], and digital gold.<ref>{{Cite web|date=2021-09-30|title=PhonePe launches silver investments; allows users to buy silver coins and bars|url=https://www.cnbctv18.com/videos/market/commodities/phonepe-launches-silver-investments-allows-users-to-buy-silver-coins-and-bars-10939762.htm|access-date=2022-01-29|website=cnbctv18.com|language=en|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206052049/https://www.cnbctv18.com/videos/market/commodities/phonepe-launches-silver-investments-allows-users-to-buy-silver-coins-and-bars-10939762.htm|url-status=live}}</ref><ref>{{Cite news|last1=Dasgupta|first1=Brinda|date=March 23, 2018|title=Payments platform PhonePe looks to double its team|work=[[The Times Of India]]|url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/payments-platform-phonepe-looks-to-double-its-team/articleshow/63425639.cms?from=mdr|access-date=11 March 2023|archive-date=30 November 2022|archive-url=https://web.archive.org/web/20221130115250/https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/payments-platform-phonepe-looks-to-double-its-team/articleshow/63425639.cms?from=mdr|url-status=live}}</ref>
-PhonePe is accepted as a payment option by over 3.5 [[crore]]<ref name="BQ prime">{{Cite web |last=Bhatnagar |first=Rishabh |title=PhonePe Hits $1 Trillion Annual Total Transaction Value |url=https://www.bqprime.com/business/phonepe-hits-1-trillion-annual-total-transaction-value |access-date=2023-03-29 |website=[[BQ Prime]] |language=en |archive-date=31 March 2023 |archive-url=https://web.archive.org/web/20230331111604/https://www.bqprime.com/business/phonepe-hits-1-trillion-annual-total-transaction-value |url-status=live }}</ref><ref name=":2">{{Cite web|last=Bhalla|first=Tarush|date=2021-03-01|title=PhonePe clocks 972 million transactions on UPI in February|url=https://www.livemint.com/companies/news/phonepe-clocks-972-million-transactions-on-upi-in-february-11614599082488.html|access-date=2021-03-29|website=mint|language=en|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206052049/https://www.livemint.com/companies/news/phonepe-clocks-972-million-transactions-on-upi-in-february-11614599082488.html|url-status=live}}</ref><ref>{{cite news|last1=Tewari|first1=Saumya|date=14 February 2020|title=PhonePe earmarks ₹800 crore marketing budget to take on competition|language=en|work=[[Mint (newspaper)|Mint]]|url=https://www.livemint.com/news/india/phonepe-earmarks-rs-800-crore-marketing-budget-to-take-on-competition-11581685601059.html|access-date=11 March 2023|archive-date=28 October 2021|archive-url=https://web.archive.org/web/20211028144653/https://www.livemint.com/news/india/phonepe-earmarks-rs-800-crore-marketing-budget-to-take-on-competition-11581685601059.html|url-status=live}}</ref> offline and online merchant outlets, constituting 99% of pin codes in the country.<ref>{{Cite news|title=PhonePe digitizes 25 million kiranas across India|work=The Economic Times|url=https://economictimes.indiatimes.com/small-biz/sme-sector/phonepe-digitizes-25-million-kiranas-across-india/articleshow/88252417.cms|access-date=2022-01-29|archive-date=23 November 2022|archive-url=https://web.archive.org/web/20221123135219/https://economictimes.indiatimes.com/small-biz/sme-sector/phonepe-digitizes-25-million-kiranas-across-india/articleshow/88252417.cms|url-status=live}}</ref><ref>{{Cite web|date=June 21, 2019|title=PhonePe's offline merchant base crosses 5-million mark|url=https://www.financialexpress.com/industry/phonepes-offline-merchant-base-crosses-5-million-mark/1613973/|website=[[The Financial Express (India)]]|access-date=11 March 2023|archive-date=29 November 2021|archive-url=https://web.archive.org/web/20211129215629/https://www.financialexpress.com/industry/phonepes-offline-merchant-base-crosses-5-million-mark/1613973/|url-status=live}}</ref> The app served more than 10 crore users as of June 2018,<ref>{{Cite web|date=June 2, 2018|title=PhonePe crosses 100 million users|url=https://www.thehindu.com/business/Industry/phonepe-crosses-100-million-users/article24068402.ece|website=[[The Hindu]]|access-date=11 March 2023|archive-date=29 November 2022|archive-url=https://web.archive.org/web/20221129212225/https://www.thehindu.com/business/Industry/phonepe-crosses-100-million-users/article24068402.ece|url-status=live}}</ref> processed 500 crore transactions by December 2019,<ref>{{Cite web|last=www.ETBrandEquity.com|title=PhonePe crosses five billion transactions on the app - ET BrandEquity|url=https://brandequity.economictimes.indiatimes.com/news/digital/phonepe-crosses-five-billion-transactions-on-the-app/72583862|access-date=2019-12-14|website=ETBrandEquity.com|language=en|archive-date=24 May 2022|archive-url=https://web.archive.org/web/20220524001820/https://brandequity.economictimes.indiatimes.com/news/digital/phonepe-crosses-five-billion-transactions-on-the-app/72583862|url-status=live}}</ref> and crossed 10 crore transactions a day in April 2022.<ref name=":5">{{Cite web |date=2022-04-13 |title=PhonePe tops 100 mn transactions a day, does 2.5 bn transactions a month |url=https://www.business-standard.com/article/companies/phonepe-tops-100-mn-transactions-a-day-does-2-5-bn-transactions-a-month-122041300514_1.html |access-date=2023-03-29 |website=Business Standard |language=en-US |archive-date=31 March 2023 |archive-url=https://web.archive.org/web/20230331113102/https://www.business-standard.com/article/companies/phonepe-tops-100-mn-transactions-a-day-does-2-5-bn-transactions-a-month-122041300514_1.html |url-status=live }}</ref> It currently has over 44 crore registered users with over 20 crore monthly active users.<ref>{{Cite web |date=2023-02-14 |title=PhonePe raises $100 million in additional funding at a $12 billion valuation |url=https://www.livemint.com/news/india/phonepe-raises-100mn-in-additional-funding-at-a-12-billion-valuation-11676371001733.html |access-date=2023-03-29 |website=mint |language=en |archive-date=14 May 2023 |archive-url=https://web.archive.org/web/20230514015221/https://www.livemint.com/news/india/phonepe-raises-100mn-in-additional-funding-at-a-12-billion-valuation-11676371001733.html |url-status=live }}</ref><ref name=":3">{{Cite web|title=PhonePe crosses 350 million user-mark, up 28 per cent from January 2021|url=https://www.newindianexpress.com/business/2022/jan/08/phonepe-crosses-350-million-user-mark-up-28-per-cent-from-january-2021-2404468.html|access-date=2022-01-29|website=The New Indian Express|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206052048/https://www.newindianexpress.com/business/2022/jan/08/phonepe-crosses-350-million-user-mark-up-28-per-cent-from-january-2021-2404468.html|url-status=live}}</ref><ref name=":2" /><ref>{{Cite news|last=Shrivastava|first=Aditi|title=Flipkart invests $90 million more in marketplace, PhonePe platform|work=[[The Economic Times]]|url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/flipkart-invests-90-million-more-in-marketplace-phonepe-platform/articleshow/75419399.cms?from=mdr|access-date=2020-07-19|archive-date=11 March 2023|archive-url=https://web.archive.org/web/20230311082611/https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/flipkart-invests-90-million-more-in-marketplace-phonepe-platform/articleshow/75419399.cms?from=mdr|url-status=live}}</ref>
-PhonePe is licensed by the [[Reserve Bank of India]] for the issuance and operation of a Semi Closed Prepaid Payment system with Authorisation Number: 75/2014 dated 22 August 2014.<ref>{{Cite web|title=Reserve Bank of India - Publications|url=https://rbi.org.in/scripts/publicationsview.aspx?id=12043|access-date=2017-02-20|website=rbi.org.in|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235441/https://rbi.org.in/scripts/publicationsview.aspx?id=12043|url-status=live}}</ref><ref>{{Cite web|title=Terms of user {{!}} PhonePe|url=https://www.phonepe.com/en/terms.html|website=PhonePe|access-date=20 February 2017|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235401/https://www.phonepe.com/en/terms.html|url-status=live}}</ref>
+The PhonePe app is accessible in 11 Indian languages.<ref name=":4">{{Cite web|date=20 April 2020|title=5 digital payment platforms you can use during Coronavirus Lockdown|url=https://www.indiatoday.in/information/story/5-digital-payment-platforms-you-can-use-to-make-payment-during-coronavirus-lockdown-1668921-2020-04-20|access-date=2020-07-19|website=India Today|language=en|archive-date=18 September 2020|archive-url=https://web.archive.org/web/20200918205425/https://www.indiatoday.in/information/story/5-digital-payment-platforms-you-can-use-to-make-payment-during-coronavirus-lockdown-1668921-2020-04-20|url-status=live}}</ref> 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.<ref>{{Cite web|date=2021-09-30|title=PhonePe launches silver investments; allows users to buy silver coins and bars|url=https://www.cnbctv18.com/videos/market/commodities/phonepe-launches-silver-investments-allows-users-to-buy-silver-coins-and-bars-10939762.htm|access-date=2022-01-29|website=cnbctv18.com|language=en|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206052049/https://www.cnbctv18.com/videos/market/commodities/phonepe-launches-silver-investments-allows-users-to-buy-silver-coins-and-bars-10939762.htm|url-status=live}}</ref><ref>{{Cite news|last1=Dasgupta|first1=Brinda|date=23 March 2018|title=Payments platform PhonePe looks to double its team|work=[[The Times Of India]]|url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/payments-platform-phonepe-looks-to-double-its-team/articleshow/63425639.cms?from=mdr|access-date=11 March 2023|archive-date=30 November 2022|archive-url=https://web.archive.org/web/20221130115250/https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/payments-platform-phonepe-looks-to-double-its-team/articleshow/63425639.cms?from=mdr|url-status=live}}</ref>
 == History ==
-PhonePe was incorporated in December 2015.<ref>{{cite web|title=Flipkart : India's most preferred online shopping store|url=https://www.theindianwire.com/startups/flipkart-62283/|access-date=14 February 2020|website=The Indian Wire|date=3 July 2018 |archive-date=6 August 2020|archive-url=https://web.archive.org/web/20200806075740/https://www.theindianwire.com/startups/flipkart-62283/|url-status=live}}</ref> In April 2016, the company was acquired by [[Flipkart]]<ref>{{Cite news|last=Reporter|first=B. S.|date=2016-04-02|title=Flipkart buys mobile payments company PhonePe for an undisclosed sum|newspaper=[[Business Standard]]|url=http://www.business-standard.com/article/companies/flipkart-buys-mobile-payments-company-phonepe-for-an-undisclosed-sum-116040100265_1.html|access-date=2017-02-20|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235439/https://www.business-standard.com/article/companies/flipkart-buys-mobile-payments-company-phonepe-for-an-undisclosed-sum-116040100265_1.html|url-status=live}}</ref><ref>{{Cite news|title=Flipkart acquires former executive's startup PhonePe for payments push|newspaper=[[The Economic Times]]|url=http://economictimes.indiatimes.com/small-biz/startups/flipkart-acquires-former-executives-startup-phonepe-for-payments-push/articleshow/51643300.cms|access-date=2017-02-20|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235450/https://economictimes.indiatimes.com/small-biz/startups/flipkart-acquires-former-executives-startup-phonepe-for-payments-push/articleshow/51643300.cms|url-status=live}}</ref> and as part of the acquisition, the FxMart license was transferred to PhonePe and rebranded as the PhonePe wallet. PhonePe's founder Sameer Nigam was appointed as the [[Chief executive officer|CEO]] of the company.<ref>{{Cite web|title=Sameer Nigam: Executive Profile & Biography - Bloomberg|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=142810855&privcapId=78829188|access-date=2018-05-12|website=[[Bloomberg L.P.]]|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235440/https://www.bloomberg.com/tosv2.html?vid=&uuid=7159c950-08a0-11e9-93fa-35b20649c9c0&url=L3Jlc2VhcmNoL3N0b2Nrcy9wcml2YXRlL3BlcnNvbi5hc3A%2FcGVyc29uSWQ9MTQyODEwODU1JnByaXZjYXBJZD03ODgyOTE4OA%3D%3D|url-status=live}}</ref>
+PhonePe was incorporated in December 2015.<ref>{{cite web|title=Flipkart : India's most preferred online shopping store|url=https://www.theindianwire.com/startups/flipkart-62283/|access-date=14 February 2020|website=The Indian Wire|date=3 July 2018 |archive-date=6 August 2020|archive-url=https://web.archive.org/web/20200806075740/https://www.theindianwire.com/startups/flipkart-62283/|url-status=live}}</ref> In April 2016, the company was acquired by [[Flipkart]]<ref>{{Cite web |date=2016-04-01 |title=Flipkart acquires mobile payments firm PhonePe |url=https://www.thehindubusinessline.com/info-tech/flipkart-acquires-mobile-payments-firm-phonepe/article8422281.ece |access-date=2024-11-07 |website=BusinessLine |language=en}}</ref><ref>{{Cite news|title=Flipkart acquires former executive's startup PhonePe for payments push|newspaper=[[The Economic Times]]|url=http://economictimes.indiatimes.com/small-biz/startups/flipkart-acquires-former-executives-startup-phonepe-for-payments-push/articleshow/51643300.cms|access-date=2017-02-20|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235450/https://economictimes.indiatimes.com/small-biz/startups/flipkart-acquires-former-executives-startup-phonepe-for-payments-push/articleshow/51643300.cms|url-status=live}}</ref> 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 [[Chief executive officer|CEO]] of the company.<ref>{{Cite web |last=Raj |first=Ritik |title=Meet man who once worked at Flipkart, now runs Rs 99400 crore company, he is… |url=https://www.dnaindia.com/business/report-meet-man-who-once-worked-at-flipkart-now-runs-rs-99400-crore-company-he-is-3095061 |access-date=2024-11-07 |website=DNA India |language=en}}</ref>
-In August 2016, the company partnered with [[Yes Bank]] to launch a [[Unified Payments Interface|UPI]]-based mobile payment app, based on the government-backed UPI platform.<ref name=":0" /><ref>{{Cite news|date=2017-01-02|title=7 things you must know about the PhonePe app from Flipkart|language=en-US|newspaper=Flipkart Stories|url=http://stories.flipkart.com/phonepe-app-flipkart/|access-date=2017-02-20|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235352/https://stories.flipkart.com/phonepe-app-flipkart/|url-status=live}}</ref><ref name=":1">{{Cite web|title=YES BANK and PhonePe have Partnered to Launch India's 1st UPI Based Mobile Payment App - Press Release|url=https://www.yesbank.in/media/press-releases/fy-2016-17/say-goodbye-to-cash-phonepe-yes-bank-launch-indias-first-upi-based-payments-app|access-date=2017-02-20|website=[[Yes Bank]]|archive-date=6 July 2019|archive-url=https://web.archive.org/web/20190706083637/https://www.yesbank.in/media/press-releases/fy-2016-17/say-goodbye-to-cash-phonepe-yes-bank-launch-indias-first-upi-based-payments-app|url-status=live}}</ref>
-Within three months of launch, the app was downloaded by over one crore users.<ref>{{cite news|last1=Pani|first1=Priyanka|date=12 January 2018|title=PhonePe adds 10 million users in 9 weeks|language=en|work=[[Business Line]]|url=https://www.thehindubusinessline.com/info-tech/phonepe-adds-10-million-users-in-9-weeks/article9471473.ece|access-date=11 March 2023|archive-date=28 November 2021|archive-url=https://web.archive.org/web/20211128054624/https://www.thehindubusinessline.com/info-tech/phonepe-adds-10-million-users-in-9-weeks/article9471473.ece|url-status=live}}</ref> In 2018, PhonePe became the fastest Indian payment app to get a five crore badge on the [[Google Play|Google Play Store]].<ref>{{cite news|date=24 December 2019|title=Paytm vs Google Pay vs PhonePe: Who is winning?|work=[[Moneycontrol.com]]|url=https://www.moneycontrol.com/news/technology/paytm-vs-google-pay-vs-phonepe-who-is-winning-4760421.html|access-date=11 March 2023|archive-date=26 September 2022|archive-url=https://web.archive.org/web/20220926062425/https://www.moneycontrol.com/news/technology/paytm-vs-google-pay-vs-phonepe-who-is-winning-4760421.html|url-status=live}}</ref> The PhonePe app overtook [[BHIM]] to become the market leader in UPI transactions in August 2017.<ref>{{cite news|date=20 September 2017|title=PhonePe overtakes Bhim in UPI transactions - Times of India|language=en|work=[[The Times of India]]|url=https://timesofindia.indiatimes.com/business/india-business/phonepe-overtakes-bhim-in-upi-transactions/articleshow/60757252.cms|access-date=11 March 2023|archive-date=11 April 2021|archive-url=https://web.archive.org/web/20210411100256/https://timesofindia.indiatimes.com/business/india-business/phonepe-overtakes-bhim-in-upi-transactions/articleshow/60757252.cms|url-status=live}}</ref>
-In 2022, PhonePe became the first UPI TPAP (Third Party Application Providers) App to allow [[Unified Payments Interface|UPI activation]] through [[Aadhaar]]. A year later, it further expanded its services by launching international UPI payments, allowing Indian users traveling abroad to pay foreign merchants with [[Unified Payments Interface]] (UPI).<ref name=":6">{{Cite web |date=2022-11-09 |title=Walmart-owned PhonePe to enable UPI activation on Aadhaar-based OTP |url=https://www.business-standard.com/article/companies/walmart-owned-phonepe-to-enable-upi-activation-on-aadhaa-based-otp-122110901215_1.html |access-date=2023-03-29 |website=Business Standard |language=en-US |archive-date=31 March 2023 |archive-url=https://web.archive.org/web/20230331114015/https://www.business-standard.com/article/companies/walmart-owned-phonepe-to-enable-upi-activation-on-aadhaa-based-otp-122110901215_1.html |url-status=live }}</ref> As per [[National Payments Corporation of India|NPCI]]'s UPI ecosystem statistics, PhonePe currently holds a 50% market share by value of transactions in the UPI market.<ref>{{Cite news |date=2023-03-11 |title=PhonePe reaches $1 trillion annualised payment value run rate; gets payment aggregator licence |language=en-IN |work=The Hindu |url=https://www.thehindu.com/business/Industry/phonepe-reaches-1-trillion-annualised-payment-value-run-rate-gets-payment-aggregator-licence/article66606671.ece |access-date=2023-07-30 |issn=0971-751X}}</ref><ref>{{Cite web |title=UPI Ecosystem Statistics |url=https://www.npci.org.in/what-we-do/upi/upi-ecosystem-statistics?TSPD_101_R0=08f002952bab2000569d322770f9ed12bb6f0f3e659864113652b2943edef3685f0e131afca19a1e0888f928b81430004619858e7ad3c72d5d48aa725a13810c1252106db56a17c87a4b2fac69c0dfdd5f13864ad005745f55ca4b135b1e0dbe |access-date=2023-07-30 |website=www.npci.org.in}}</ref>
-In April 2023, PhonePe launched a new shopping app called ‘Pincode’, focused on hyperlocal e-commerce and built on top of the ONDC platform.<ref name=":8" /><ref name=":9" />
-== Innovation and partnerships ==
-PhonePe helps merchants to accept payments through all UPI-based apps, debit and [[credit card|credit cards]], as well as wallet (Including third party wallets) on the app.
-=== 2017 ===
-In October, PhonePe launched a low-cost POS device built in India. The [[Bluetooth]] enabled POS device looks like a calculator and works with [[AA battery|AA batteries]]. The hardware uses Bluetooth connectivity and enables payments through all the mobile devices that can access the PhonePe app.<ref>{{Cite web|last1=Dalal|first1=Mihir|date=November 1, 2017|title=Flipkart's PhonePe launches PoS machine for small merchants|url=https://www.livemint.com/Industry/KmPSzYRdJ7QI5Mjw31kFXL/Flipkarts-PhonePe-launches-PoS-machine-for-small-merchants.html|website=[[Mint (newspaper)|Mint]]|access-date=11 March 2023|archive-date=27 November 2021|archive-url=https://web.archive.org/web/20211127075134/https://www.livemint.com/Industry/KmPSzYRdJ7QI5Mjw31kFXL/Flipkarts-PhonePe-launches-PoS-machine-for-small-merchants.html|url-status=live}}</ref><ref>{{Cite web|last1=Allirajan|first1=M|date=October 31, 2017|title=PhonePe launches Made for India POS device|url=https://timesofindia.indiatimes.com/business/india-business/phonepe-launches-made-for-india-pos-device/articleshow/61374154.cms|website=[[The Times of India]]|access-date=11 March 2023|archive-date=16 July 2019|archive-url=https://web.archive.org/web/20190716012315/https://timesofindia.indiatimes.com/business/india-business/phonepe-launches-made-for-india-pos-device/articleshow/61374154.cms|url-status=live}}</ref>
-=== 2018 ===
-PhonePe partnered with [[Freecharge]] in January 2018. This partnership enabled PhonePe users to link their existing Freecharge wallets to the PhonePe app.<ref>{{Cite web|date=January 9, 2018|title=PhonePe strikes strategic partnership with FreeCharge|url=https://www.business-standard.com/article/news-ani/phonepe-strikes-strategic-partnership-with-freecharge-118010900804_1.html|website=[[Business Standard]]|access-date=11 March 2023|archive-date=9 February 2022|archive-url=https://web.archive.org/web/20220209154144/https://www.business-standard.com/article/news-ani/phonepe-strikes-strategic-partnership-with-freecharge-118010900804_1.html|url-status=live}}</ref> PhonePe has also entered similar partnerships with [[Jio]] Money and [[Airtel Payments Bank|Airtel Money]].<ref>{{Cite web|date=February 19, 2018|title=PhonePe adopts FMCG approach for tie-ups with local merchants|url=https://www.thehindubusinessline.com/news/phonepe-adopts-fmcg-approach-for-tie-ups-with-local-merchants/article22800373.ece|website=[[The Hindu Businessline]]|access-date=11 March 2023|archive-date=22 October 2021|archive-url=https://web.archive.org/web/20211022031728/https://www.thehindubusinessline.com/news/phonepe-adopts-fmcg-approach-for-tie-ups-with-local-merchants/article22800373.ece|url-status=live}}</ref>
-=== 2019 ===
-PhonePe launched tax-saving funds to help customers minimise their tax burden by investing in equity-linked saving schemes.<ref>{{cite news|last1=Manikandan|first1=Ashwin|date=9 January 2020|title=PhonePe allows to invest in liquid mutual funds|work=[[The Economic Times]]|url=https://economictimes.indiatimes.com/mf/mf-news/walmart-owned-phonepe-expands-its-financial-services-palette/articleshow/73161108.cms?from=mdr|access-date=11 March 2023|archive-date=28 August 2020|archive-url=https://web.archive.org/web/20200828142830/https://economictimes.indiatimes.com/mf/mf-news/walmart-owned-phonepe-expands-its-financial-services-palette/articleshow/73161108.cms?from=mdr|url-status=live}}</ref><ref>{{cite news|date=28 March 2019|title=Want to save addl income tax? This new app will save you whopping Rs 46,800|work=[[Zee Business]]|url=https://www.zeebiz.com/personal-finance/news-want-to-save-addl-income-tax-this-new-app-will-save-you-whopping-rs-46800-92080#:~:text=offers%20exactly%20that.-,On%20Thursday%2C%20PhonePe%20announced%20the%20launch%20of%20a%20Tax%20Saving,or%20Equity%20Linked%20Savings%20Schemes.|access-date=11 March 2023|archive-date=12 June 2021|archive-url=https://web.archive.org/web/20210612165831/https://www.zeebiz.com/personal-finance/news-want-to-save-addl-income-tax-this-new-app-will-save-you-whopping-rs-46800-92080#:~:text=offers%20exactly%20that.-,On%20Thursday%2C%20PhonePe%20announced%20the%20launch%20of%20a%20Tax%20Saving,or%20Equity%20Linked%20Savings%20Schemes.|url-status=live}}</ref> In the same year, PhonePe also became the first payment app to allow customers to make bids for [[Initial public offering|initial public offerings]] through the UPI platform.<ref>{{cite news|last1=Manikandan|first1=Ashwin|date=17 September 2019|title=Flipkart-owned PhonePe first non-bank to enable UPI-based IPO bidding|work=[[The Economic Times]]|url=https://economictimes.indiatimes.com/markets/ipos/fpos/flipkart-owned-phonepe-first-non-bank-to-enable-upi-based-ipo-bidding/articleshow/71172949.cms#:~:text=Mumbai%3A%20The%20National%20Payments%20Corporation,IPOs)%20through%20the%20UPI%20platform.|access-date=11 March 2023|archive-date=24 March 2020|archive-url=https://web.archive.org/web/20200324064317/https://economictimes.indiatimes.com/markets/ipos/fpos/flipkart-owned-phonepe-first-non-bank-to-enable-upi-based-ipo-bidding/articleshow/71172949.cms#:~:text=Mumbai%3A%20The%20National%20Payments%20Corporation,IPOs)%20through%20the%20UPI%20platform.|url-status=live}}</ref>
-=== 2020 ===
-In January, PhonePe became the first digital payment platform in India to launch international travel insurance.<ref>{{cite news|last1=Dugh|first1=Harish|date=23 January 2020|title=PhonePe does a first in India, launches International Travel Insurance in digital payment platform space|work=[[Zee Business]]|url=https://www.zeebiz.com/india/news-phonepe-does-a-first-in-india-launches-international-travel-insurance-in-digital-payment-platform-space-118015|access-date=11 March 2023|archive-date=6 August 2020|archive-url=https://web.archive.org/web/20200806100450/https://www.zeebiz.com/india/news-phonepe-does-a-first-in-india-launches-international-travel-insurance-in-digital-payment-platform-space-118015|url-status=live}}</ref> PhonePe also launched Liquid Fund in association with [[Aditya Birla Group|Aditya Birla]] Mutual Fund to provide the combined benefits of a fixed deposit and a mutual fund.<ref>{{cite news|last1=Singh|first1=Shipra|date=8 January 2020|title=PhonePe Launches Liquid Fund. Should You Invest?|language=en|work=[[Entrepreneur (magazine)|Entrepreneur]]|url=https://www.entrepreneur.com/article/344676#:~:text=Digital%20payments%20company%20PhonePe%20on,into%20a%20liquid%20mutual%20fund.|access-date=11 March 2023|archive-date=16 August 2022|archive-url=https://web.archive.org/web/20220816012722/https://www.entrepreneur.com/article/344676#:~:text=Digital%20payments%20company%20PhonePe%20on,into%20a%20liquid%20mutual%20fund.|url-status=live}}</ref>
-In February, PhonePe launched the chat feature on its app to enable its users to have conversations with each other within the app while requesting money or confirming the receipt of payment.<ref>{{cite news|date=3 February 2020|title=PhonePe introduces chat feature on app to ease digital transactions via texts|language=en|work=[[Mint (newspaper)|Mint]]|url=https://www.livemint.com/technology/apps/phonepe-introduces-chat-feature-on-app-to-ease-digital-transactions-via-texts-11580717509591.html|access-date=11 March 2023|archive-date=28 October 2021|archive-url=https://web.archive.org/web/20211028143114/https://www.livemint.com/technology/apps/phonepe-introduces-chat-feature-on-app-to-ease-digital-transactions-via-texts-11580717509591.html|url-status=live}}</ref>
-PhonePe launched Super Funds in May to aid long-term wealth creation by helping customers invest in equity, debt, and gold funds of mutual fund companies.<ref>{{cite news|last1=Abrar|first1=Peerzada|date=4 May 2020|title=PhonePe launches Super Funds to help users in long-term wealth creation|work=[[Business Standard]]|url=https://www.business-standard.com/article/companies/phonepe-launches-super-funds-to-help-users-in-long-term-wealth-creation-120050401138_1.html|access-date=11 March 2023|archive-date=15 May 2021|archive-url=https://web.archive.org/web/20210515051630/https://www.business-standard.com/article/companies/phonepe-launches-super-funds-to-help-users-in-long-term-wealth-creation-120050401138_1.html|url-status=live}}</ref>
-In June, the company launched domestic multi-trip insurance to cover all risks associated with all modes of travel within India at an affordable annual premium.<ref>{{cite web|last1=Malik|first1=Yuvraj|date=19 September 2019|title=PhonePe's super-app platform 'Switch', a one stop solution for customers|url=https://www.business-standard.com/article/companies/phonepe-s-super-app-platform-switch-a-one-stop-solution-for-customers-119091901357_1.html|access-date=16 January 2020|website=Business Standard India|archive-date=16 January 2020|archive-url=https://web.archive.org/web/20200116104743/https://www.business-standard.com/article/companies/phonepe-s-super-app-platform-switch-a-one-stop-solution-for-customers-119091901357_1.html|url-status=live}}</ref><ref>{{cite news|last1=Banerjee|first1=Prasid|date=22 Jan 2020|title=PhonePe now allows customers to withdraw cash using UPI|publisher=livemint|agency=Mint|url=https://www.livemint.com/companies/news/phonepe-now-allows-customers-to-withdraw-cash-using-upi-11579695985662.html|access-date=12 February 2020|archive-date=23 January 2020|archive-url=https://web.archive.org/web/20200123133235/https://www.livemint.com/companies/news/phonepe-now-allows-customers-to-withdraw-cash-using-upi-11579695985662.html|url-status=live}}</ref>
-In July, the company formed a partnership with [[ICICI Lombard]] to launch Hospital Daily Cash insurance that covers expenses incurred during hospitalisation due to injury or illnesses.<ref>{{Cite web|last=Sheth|first=Hemani|title=PhonePe, ICICI Lombard team up to offer Hospital Cash cover|url=https://www.thehindubusinessline.com/money-and-banking/phonepe-icici-lombard-team-up-to-offer-hospital-cash-cover/article32170754.ece|access-date=2021-03-29|website=@businessline|date=23 July 2020 |language=en|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206052047/https://www.thehindubusinessline.com/money-and-banking/phonepe-icici-lombard-team-up-to-offer-hospital-cash-cover/article32170754.ece|url-status=live}}</ref><ref>{{Cite web|title=PhonePe, ICICI Lombard General Insurance Launch Health Scheme: All You Need To Know|url=https://www.moneycontrol.com/news/business/personal-finance/phonepe-icici-lombard-general-insurance-launch-health-scheme-all-you-need-to-know-5602271.html|access-date=2021-03-29|website=Moneycontrol|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206052053/https://www.moneycontrol.com/news/business/personal-finance/phonepe-icici-lombard-general-insurance-launch-health-scheme-all-you-need-to-know-5602271.html|url-status=live}}</ref>
-In September, PhonePe became one of the fastest-growing insurance tech distributors in the country with over 5 lakh insurance policies sold on its platform.<ref>{{Cite web |last=Ahaskar |first=Abhijit |date=2020-09-30 |title=PhonePe sells 5 lakh insurance plans in five months |url=https://www.livemint.com/news/india/phonepe-sells-5-lakh-insurance-plans-in-five-months-11601457150584.html |access-date=2023-07-28 |website=mint |language=en}}</ref> The company also expanded its Mutual Funds lineup in the same month by launching 7 new categories.<ref>{{Cite web|date=2020-09-28|title=PhonePe Now Has More Mutual Fund Investment Options; Minimum Investments From Rs 100|url=https://www.news18.com/news/tech/phonepe-now-has-more-mutual-fund-investment-options-minimum-investments-from-rs-100-2915021.html|access-date=2021-03-29|website=www.news18.com|language=en|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206052048/https://www.news18.com/news/tech/phonepe-now-has-more-mutual-fund-investment-options-minimum-investments-from-rs-100-2915021.html|url-status=live}}</ref><ref>{{Cite web|last=Singh|first=Shipra|date=2020-09-29|title=PhonePe Expands its Mutual Funds Offering by Adding 7 New Categories|url=https://www.entrepreneur.com/article/356854|access-date=2021-03-29|website=Entrepreneur|language=en|archive-date=16 October 2021|archive-url=https://web.archive.org/web/20211016130852/https://www.entrepreneur.com/article/356854|url-status=live}}</ref>
-In October, the company ventured into motor insurance with the launch of car and bike insurance policies.<ref>{{Cite news|title=PhonePe in insurance with Bajaj Allianz|work=The Economic Times|url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/phonepe-in-insurance-with-bajaj-allianz/articleshow/73572537.cms?from=mdr|access-date=2021-03-29|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206052051/https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/phonepe-in-insurance-with-bajaj-allianz/articleshow/73572537.cms?from=mdr|url-status=live}}</ref><ref>{{Cite web|date=2020-10-14|title=After travel and Covid, now buy car and bike insurance on Walmart's PhonePe with these benefits|url=https://www.financialexpress.com/industry/sme/after-travel-and-covid-now-buy-car-and-bike-insurance-on-walmarts-phonepe-with-these-benefits/2104768/|access-date=2021-03-29|website=The Financial Express|language=en-US|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206052054/https://www.financialexpress.com/industry/sme/after-travel-and-covid-now-buy-car-and-bike-insurance-on-walmarts-phonepe-with-these-benefits/2104768/|url-status=live}}</ref>
-In November, PhonePe also became the largest platform for buying digital gold with a 35% market share.<ref>{{Cite news|last=Abrar|first=Peerzada|date=2020-11-18|title=PhonePe becomes largest platform for buying digital gold with 35% mkt share|work=Business Standard India|url=https://www.business-standard.com/article/companies/phonepe-becomes-largest-platform-for-buying-digital-gold-with-35-mkt-share-120111801308_1.html#:~:text=Walmart-owned%20digital%20payments%20firm,35%20per%20cent%20market%20share.|access-date=2021-03-29|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206053555/https://www.business-standard.com/article/companies/phonepe-becomes-largest-platform-for-buying-digital-gold-with-35-mkt-share-120111801308_1.html#:~:text=Walmart-owned%20digital%20payments%20firm,35%20per%20cent%20market%20share.|url-status=live}}</ref>
-In December, Flipkart partially hived off PhonePe into a separate entity in order to access dedicated capital. As a part of this hive-off, PhonePe secured US$700 million in primary capital at a post-money valuation of US$5.5 billion from existing investors of [[Flipkart]] led by [[Walmart]].<ref>{{Cite web|last=Singh|first=Shipra|date=2020-12-03|title=Flipkart Splits PhonePe In a Separate Unit, Latter to Raise $700 Mn at $5.5 Bn Valuation|url=https://www.entrepreneur.com/article/360870|access-date=2021-03-29|website=Entrepreneur|language=en|archive-date=21 May 2022|archive-url=https://web.archive.org/web/20220521003818/https://www.entrepreneur.com/article/360870|url-status=live}}</ref><ref>{{Cite news|date=2020-12-03|title=Flipkart partially spins off PhonePe in $700 million fundraising round|work=Business Standard India|agency=Press Trust of India|url=https://www.business-standard.com/article/pti-stories/flipkart-partially-spins-off-phonepe-in-usd-700-mn-fundraising-round-120120300517_1.html|access-date=2021-03-29|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206053553/https://www.business-standard.com/article/pti-stories/flipkart-partially-spins-off-phonepe-in-usd-700-mn-fundraising-round-120120300517_1.html|url-status=live}}</ref>
-=== 2021 ===
-In March, PhonePe became the first digital payments platform to cross 100 crore monthly transactions on [[Unified Payments Interface|UPI]], clocking almost 130 crore transactions across all of its payment offerings, including third-party debit and credit cards and its own digital wallet.<ref>{{Cite web |last=Srivastava |first=Moulishree |date=2021-05-13 |title=How Walmart-owned PhonePe beat Google Pay and became the first app to cross 1 billion UPI transactions |url=https://kr-asia.com/how-walmart-owned-phonepe-beat-google-pay-and-became-the-first-app-to-cross-one-billion-upi-transactions |access-date=2022-08-22 |website=KrASIA |language=en |archive-date=6 February 2023 |archive-url=https://web.archive.org/web/20230206055102/https://kr-asia.com/how-walmart-owned-phonepe-beat-google-pay-and-became-the-first-app-to-cross-one-billion-upi-transactions |url-status=live }}</ref>
-PhonePe also emerged as the leader in terms of transactions processed on [[Bharat Bill Payment System]].<ref>{{Cite web|last=Iyer|first=Priyanka|date=23 September 2021|title=After UPI, PhonePe Dominates Bharat Bill Pay With 49% Volume Share In August|url=https://www.moneycontrol.com/news/companies-2/after-upi-phonepe-dominates-bharat-bill-pay-with-49-volume-share-in-august-7499251.html|access-date=2022-01-29|website=Moneycontrol|language=en|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206052055/https://www.moneycontrol.com/news/companies-2/after-upi-phonepe-dominates-bharat-bill-pay-with-49-volume-share-in-august-7499251.html|url-status=live}}</ref> It reportedly registered over 10 lakh UPI-enabled AutoPay mandates since the launch of the AutoPay functionality feature.<ref>{{Cite news|last=Panda|first=Subrata|date=2021-09-08|title=PhonePe received a million UPI autopay mandates in past three months|work=Business Standard India|url=https://www.business-standard.com/article/companies/phonepe-received-a-million-upi-autopay-mandates-in-past-three-months-121090800783_1.html#:~:text=PhonePe%20received%20a%20million%20UPI%20autopay%20mandates%20in%20past%20three%20months,-Subrata%20Panda%20%7C%20Mumbai&text=Walmart-backed%20digital%20payments%20firm,top-ups,%20and%20SIPs.|access-date=2022-01-29|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206052053/https://www.business-standard.com/article/companies/phonepe-received-a-million-upi-autopay-mandates-in-past-three-months-121090800783_1.html#:~:text=PhonePe%20received%20a%20million%20UPI%20autopay%20mandates%20in%20past%20three%20months,-Subrata%20Panda%20%7C%20Mumbai&text=Walmart-backed%20digital%20payments%20firm,top-ups,%20and%20SIPs.|url-status=live}}</ref> It had also processed over 200 crore monthly transactions on its platform in October.<ref>{{Cite news|title=Processed 2 billion transactions in October: PhonePe {{!}} Bengaluru News - Times of India|url=https://timesofindia.indiatimes.com/city/bengaluru/processed-2bn-transactions-in-oct-phonepe/articleshow/87768664.cms|access-date=2022-01-29|website=The Times of India|date=18 November 2021 |language=en|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206052048/https://timesofindia.indiatimes.com/city/bengaluru/processed-2bn-transactions-in-oct-phonepe/articleshow/87768664.cms|url-status=live}}</ref>
-=== 2022 ===
-In May 2022, PhonePe announced the acquisition of Wealth Management platform WealthDesk and Smart Beta Wealth Management Platform, OpenQ. The acquisitions were done with the aim of widening PhonePe's offerings in the wealth management space.<ref>{{cite journal|date=17 May 2022|url=https://www.bloomberg.com/news/articles/2022-05-17/phonepe-to-buy-wealth-management-firms-for-75-million|title=Walmart-Backed PhonePe Buys Indian Wealth Management Firms|journal=Bloomberg|access-date=19 May 2022|url-status=live|archive-date=5 July 2022|archive-url=https://web.archive.org/web/20220705195511/https://www.bloomberg.com/news/articles/2022-05-17/phonepe-to-buy-wealth-management-firms-for-75-million}}</ref>
-In April 2022, PhonePe crossed 10 crore transactions a day.<ref name=":5" />
-By September 2022, PhonePe had enabled the digitization of payments for 80 lakh merchants under [[Reserve Bank of India|RBI]] Payments Infrastructure Development Fund (PIDF) scheme.<ref>{{Cite web |title=PhonePe digitises payments for 80 lakh merchants in the last 18 months |url=https://www.financialexpress.com/industry/sme/msme-eodb-phonepe-digitises-payments-for-80-lakh-merchants-in-the-last-18-months/2652315/ |access-date=2023-03-29 |website=Financialexpress |language=en |archive-date=31 March 2023 |archive-url=https://web.archive.org/web/20230331112408/https://www.financialexpress.com/industry/sme/msme-eodb-phonepe-digitises-payments-for-80-lakh-merchants-in-the-last-18-months/2652315/ |url-status=live }}</ref>
-PhonePe also tokenized 1.4 crore (14 million) debit and credit cards in compliance with the [[Reserve Bank of India|RBI]]'s required card tokenization, to limit the possibility of fraud and protect customers' card information.<ref>{{Cite web |date=2022-09-08 |title=PhonePe tokenizes 14 million debit and credit cards prior to RBI's deadline |url=https://www.livemint.com/news/india/phonepe-tokenizes-14-million-debit-and-credit-cards-prior-to-rbi-s-deadline-11662629456402.html |access-date=2023-03-29 |website=mint |language=en |archive-date=31 March 2023 |archive-url=https://web.archive.org/web/20230331112412/https://www.livemint.com/news/india/phonepe-tokenizes-14-million-debit-and-credit-cards-prior-to-rbi-s-deadline-11662629456402.html |url-status=live }}</ref>
-In September, PhonePe also announced the opening of its new 50,000 sq ft office in [[Pune]].<ref>{{Cite web |title=PhonePe Opens Its New 50 000 sq ft Office In Pune |url=http://bwdisrupt.businessworld.in/article/PhonePe-Opens-Its-New-50-000-sq-ft-Office-In-Pune-/27-09-2022-448295 |access-date=2023-03-29 |website=BW Disrupt |language=en}}</ref>
-In November, PhonePe became the first UPI TPAP App to enable UPI activation with [[Aadhaar]].<ref name=":6" />
-=== 2023 ===
-In January, PhonePe declared the completion of its domicile shift to India and the full separation from [[Flipkart]].<ref name=":7">{{Cite web |last=Singh |first=Manish |date=2022-12-23 |title=Flipkart and PhonePe complete separation |url=https://techcrunch.com/2022/12/22/flipkart-and-phonepe-complete-separation/ |access-date=2023-03-29 |website=TechCrunch |language=en-US |archive-date=7 June 2023 |archive-url=https://web.archive.org/web/20230607194232/https://techcrunch.com/2022/12/22/flipkart-and-phonepe-complete-separation/ |url-status=live }}</ref>
-In February, Phone became the first fintech platform to enable cross-border UPI payments.<ref name=":6" />
-In March, PhonePe hit an annualized TPV (Total payment value) run-rate of USD $1Trillion (Rs.84 Lac Crs).<ref>{{Cite web |date=2023-03-11 |title=PhonePe hits $1-trillion in annualised total payment value run rate |url=https://www.thehindubusinessline.com/money-and-banking/phonepe-hits-1-trillion-in-annualised-total-payment-value-run-rate/article66606910.ece |access-date=2023-07-26 |website=www.thehindubusinessline.com |language=en}}</ref>
-In April 2023, PhonePe launched a shopping app called ‘Pincode’. It is a dedicated shopping app that focuses on hyperlocal e-commerce, catering to the specific needs of users within their locality. The app leverages the power of ONDC, a technology platform developed by the Government of India.<ref>{{Cite news |last=Hebbalalu |first=Varunvyas |date=2023-04-04 |title=India's PhonePe launches e-commerce app on government's open network |language=en |work=Reuters |url=https://www.reuters.com/technology/indias-phonepe-launches-e-commerce-app-governments-open-network-2023-04-04/ |access-date=2023-07-24}}</ref><ref name=":8">{{Cite news |date=2023-04-05 |title=PhonePe’s local commerce app ‘Pincode’ goes live on the ONDC network |work=The Times of India |url=https://timesofindia.indiatimes.com/gadgets-news/phonepes-local-commerce-app-pincode-goes-live-on-the-ondc-network/articleshow/99257634.cms |access-date=2023-07-24 |issn=0971-8257}}</ref><ref name=":9">{{Cite web |date=2023-04-04 |title=PhonePe launches new shopping app Pincode on ONDC |url=https://www.thehindubusinessline.com/companies/phonepe-introduces-new-shopping-app-pincode/article66698378.ece |access-date=2023-07-24 |website=www.thehindubusinessline.com |language=en}}</ref>
-In May, PhonePe introduced the UPI LITE feature on its app, allowing users to initiate low value payments under Rs 200 on their app.<ref>{{Cite news |date=2023-05-03 |title=After Paytm, PhonePe goes live with UPI Lite: All you need to know |work=The Times of India |url=https://timesofindia.indiatimes.com/gadgets-news/after-paytm-phonepe-goes-live-with-upi-lite-all-you-need-to-know/articleshow/99964853.cms |access-date=2023-07-24 |issn=0971-8257}}</ref><ref>{{Cite news |date=2023-05-03 |title=PhonePe goes live with UPI Lite |work=The Economic Times |url=https://economictimes.indiatimes.com/tech/technology/phonepe-goes-live-with-upi-lite/articleshow/99954412.cms?from=mdr |access-date=2023-07-24 |issn=0013-0389}}</ref>
-In May, PhonePe also became the first digital payments app to enable the linkage of 2 lakh Rupay credit cards to the Unified Payments Interface (UPI), and processed a Total Payment Value (TPV) of Rs 150 crore through Rupay Credit on UPI.<ref>{{Cite web |date=2023-05-25 |title=PhonePe becomes first payment app to link two lakh Rupay credit cards to UPI |url=https://www.cnbctv18.com/personal-finance/phonepe-becomes-first-payment-app-to-link-two-lakh-rupay-credit-cards-to-upi-16767201.htm |access-date=2023-07-25 |website=cnbctv18.com |language=en}}</ref><ref>{{Cite news |last=Abrar |first=Peerzada |date= |title=PhonePe links 2 lakh Rupay credit cards to UPI, says it is first to do it |work=Business Standard |url=https://www.business-standard.com/companies/news/phonepe-links-2-lakh-rupay-credit-cards-to-upi-says-it-is-first-to-do-it-123052501178_1.html}}</ref>
-In June, PhonePe launched its Account Aggregator services, offered through its subsidiary PhonePe Technology Services Pvt Ltd (PTSPL).<ref>{{Cite news |date=2023-06-06 |title=PhonePe launches Account Aggregator services |work=The Economic Times |url=https://economictimes.indiatimes.com/tech/technology/phonepe-launches-account-aggregator-services/articleshow/100792460.cms |access-date=2023-07-25 |issn=0013-0389}}</ref> This service allows Indian consumers to securely share their financial data, including bank statements, insurance policies, and tax filings, with regulated Financial Institutions or FIUs, facilitating various use cases such as loan applications, insurance purchases, and investment advice.<ref name=":10">{{Cite web |date=2023-06-07 |title=PhonePe introduces account aggregator services |url=https://www.thehindubusinessline.com/money-and-banking/phonepe-introduces-account-aggregator-services/article66941655.ece |access-date=2023-07-25 |website=www.thehindubusinessline.com |language=en}}</ref><ref>{{Cite web |date=2023-06-07 |title=PhonePe launches account aggregator service, allowing app users to share financial data |url=https://www.financialexpress.com/industry/phonepe-launches-account-aggregator-service/3116067/ |access-date=2023-07-25 |website=Financialexpress |language=en}}</ref>
-In June, PhonePe also launched its payment gateway to target a wider range of offline and online merchants, including small and medium businesses, enhancing their accessibility to digital payments.<ref>{{Cite web |date=2023-06-16 |title=PhonePe Launches In-App Payment Gateway to Assist MSMEs in India |url=https://www.thehindubusinessline.com/money-and-banking/phonepe-launches-its-own-payment-solution-for-msmes/article66975524.ece |access-date=2023-07-26 |website=www.thehindubusinessline.com |language=en}}</ref><ref>{{Cite web |date=2023-06-14 |title=PhonePe launches payment gateway with zero setup, annual maintenance fee for MSME merchants |url=https://www.financialexpress.com/industry/sme/msme-eodb-phonepe-launches-payment-gateway-with-zero-setup-annual-maintenance-fee-for-msme-merchants/3125984/ |access-date=2023-07-26 |website=Financialexpress |language=en}}</ref>
-In June, PhonePe introduced merchant lending services on its platform, enabling banks and non-banking financial companies (NBFCs) to extend credit to over 35 million merchants, thereby facilitating their access to much-needed financing.<ref>{{Cite news |last=Bhakta |first=Pratik |date=2023-06-23 |title=PhonePe taps merchants in big lending push |work=The Economic Times |url=https://economictimes.indiatimes.com/tech/startups/phonepe-taps-merchants-in-big-lending-push/articleshow/101219604.cms?from=mdr |access-date=2023-07-28 |issn=0013-0389}}</ref><ref>{{Cite web |date=2023-06-23 |title=PhonePe launches platform for merchant lending in boost for SME loans |url=https://www.cnbctv18.com/business/phonepe-launches-platform-for-merchant-lending-in-boost-for-sme-loans-17025861.htm |access-date=2023-07-28 |website=cnbctv18.com |language=en}}</ref><ref>{{Cite web |date=2023-06-23 |title=Walmart-backed PhonePe launches merchant lending services |url=https://www.moneycontrol.com/news/business/announcements/walmart-backed-phonepe-launches-merchant-lending-services-10848151.html |access-date=2023-07-28 |website=Moneycontrol |language=en}}</ref>
-== Ownership and funding ==
+In August 2016, the company partnered with [[Yes Bank]] to launch a [[Unified Payments Interface|UPI]]-based mobile payment app, based on the government-backed UPI platform.<ref>{{Cite web |last=Sahay |first=Priyanka |title=Flipkart's PhonePe ties up with Yes Bank to launch UPI-based app |url=https://www.livemint.com/Companies/zsJlcKjrJrEeCQK3t8wWbP/Flipkarts-PhonePe-launches-UPIbased-app.html |website=Live Mint|date=29 August 2016 }}</ref>
-In December 2020, [[Flipkart]] and PhonePe declared a partial split, with [[Walmart]] maintaining its majority ownership in PhonePe and the two entities now functioning independently.<ref name=":7" />
-PhonePe announced the acquisition of $350 million from General Atlantic, an US growth equity firm, at a pre-money valuation of $12 billion.<ref>{{Cite web |last=Rawat |first=Aman |date=2023-01-19 |title=PhonePe raises $350 mn from General Atlantic at $12 bn valuation |url=https://www.livemint.com/companies/start-ups/phonepe-raises-350-mn-from-general-atlantic-at-12-bn-valuation-11674108233101.html |access-date=2023-03-29 |website=mint |language=en |archive-date=19 April 2023 |archive-url=https://web.archive.org/web/20230419102302/https://www.livemint.com/companies/start-ups/phonepe-raises-350-mn-from-general-atlantic-at-12-bn-valuation-11674108233101.html |url-status=live }}</ref> Subsequently, another $100 million was attained in primary capital in February 2023 from Ribbit Capital, [[Tiger Global Management|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. This brings the total amount of funding raised by PhonePe to $850 million.<ref>{{Cite web |title=PhonePe raises $100 million in additional funding |url=https://www.financialexpress.com/industry/phonepe-raises-100-million-in-additional-funding/2981617/ |access-date=2023-03-29 |website=Financialexpress |language=en |archive-date=4 April 2023 |archive-url=https://web.archive.org/web/20230404105443/https://www.financialexpress.com/industry/phonepe-raises-100-million-in-additional-funding/2981617/ |url-status=live }}</ref><ref>{{Cite news |date=2023-05-23 |title=PhonePe gets another $100 million from General Atlantic; total funding rises to $850 million |work=The Economic Times |url=https://economictimes.indiatimes.com/tech/funding/phonepe-raises-additional-100-million-from-general-atlantic/articleshow/100413143.cms?from=mdr |access-date=2023-07-26 |issn=0013-0389}}</ref>
+In December 2020, [[Flipkart]] and PhonePe declared a partial split, with [[Walmart]] maintaining its majority ownership in PhonePe and the two entities functioning independently.<ref name=":7">{{Cite web |last=Singh |first=Manish |date=2022-12-23 |title=Flipkart and PhonePe complete separation |url=https://techcrunch.com/2022/12/22/flipkart-and-phonepe-complete-separation/ |url-status=live |archive-url=https://web.archive.org/web/20230607194232/https://techcrunch.com/2022/12/22/flipkart-and-phonepe-complete-separation/ |archive-date=7 June 2023 |access-date=2023-03-29 |website=TechCrunch |language=en-US}}</ref> In 2022, PhonePe shifted its domicile to India from Singapore and completed separation from Flipkart.<ref name="b233">{{cite web | title=PhonePe turns profitable excluding Esop costs in FY24 | website=The Times of India | date=2024-08-26 | url=https://timesofindia.indiatimes.com/business/india-business/phonepe-turns-profitable-excluding-esop-costs-in-fy24/articleshow/112814953.cms | access-date=2026-01-27}}</ref>
-== Licenses received ==
+In 2022, it launched international UPI payments, allowing Indian users traveling abroad to pay foreign merchants with [[Unified Payments Interface]] (UPI).<ref name=":6">{{Cite web |date=2022-11-09 |title=Walmart-owned PhonePe to enable UPI activation on Aadhaar-based OTP |url=https://www.business-standard.com/article/companies/walmart-owned-phonepe-to-enable-upi-activation-on-aadhaa-based-otp-122110901215_1.html |access-date=2023-03-29 |website=Business Standard |language=en-US |archive-date=31 March 2023 |archive-url=https://web.archive.org/web/20230331114015/https://www.business-standard.com/article/companies/walmart-owned-phonepe-to-enable-upi-activation-on-aadhaa-based-otp-122110901215_1.html |url-status=live }}</ref><ref>{{Cite news |last= |first= |date=2023-02-07 |title=PhonePe allows cross-border UPI payments in UAE, Singapore |url=https://www.thehindu.com/sci-tech/technology/phonepe-allows-cross-border-upi-payments-in-uae-singapore/article66480856.ece |access-date=2024-11-07 |work=The Hindu |language=en-IN |issn=0971-751X}}</ref>
-In April 2021, PhonePe Wealth Broking Private Limited, a subsidiary of PhonePe, registered with the Securities Exchange Board of India (SEBI) as a Stock Broker and Depository Participant. It holds an ARN from the Association of Mutual Funds of India, enabling the distribution of Mutual Funds.<ref>{{Cite web |date=2021-08-02 |title=PhonePe launches UPI-based AutoPay functionality for mutual fund SIP investments |url=https://www.thehindubusinessline.com/money-and-banking/phonepe-launches-upi-based-autopay-functionality-for-mutual-fund-sip-investments/article35677906.ece |access-date=2023-07-30 |website=www.thehindubusinessline.com |language=en}}</ref>
-In August 2021, PhonePe Insurance Broking Services Private Limited, a subsidiary of PhonePe, received an insurance broking license from Insurance Regulatory and Development Authority of India (IRDAI). This registration allows the company to distribute insurance products from all insurance companies in India.<ref>{{Cite web |date=2021-08-31 |title=PhonePe receives insurance broking licence |url=https://www.thehindubusinessline.com/money-and-banking/phonepe-receives-insurance-broking-licence/article36196652.ece |access-date=2023-07-30 |website=www.thehindubusinessline.com |language=en}}</ref><ref>{{Cite web |last=Livemint |date=2021-08-30 |title=PhonePe receives insurance broking licence from Irdai |url=https://www.livemint.com/companies/start-ups/phonepe-receives-insurance-broking-licence-11630313081264.html |access-date=2023-07-30 |website=mint |language=en}}</ref>
+In 2022, PhonePe obtained licensing from the [[Reserve Bank of India]] for operating a Semi-Closed Prepaid Payment system.<ref>{{Cite web|title=Reserve Bank of India - Publications|url=https://rbi.org.in/scripts/publicationsview.aspx?id=12043|access-date=2017-02-20|website=rbi.org.in|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235441/https://rbi.org.in/scripts/publicationsview.aspx?id=12043|url-status=live}}</ref>
-In March 2022, it  was also registered as a Bharat Bill Payment Operating Unit (BBPOU) with the Reserve Bank of India (RBI) under the Bharat Bill Payment Systems (BBPS).<ref>{{Cite web |title=Request Rejected |url=https://www.npci.org.in/what-we-do/bharat-billpay/product-statistics/live-customer-bbpous?TSPD_101_R0=08f002952bab2000e33479988523272b7e9db28ab6471b6805076ef9199f97bc613c3d3cdd3ae1ab0846bdbf55143000cd54d0113def80e8b7cd0e8cebcd6e9f576631b9d6a47bd0d7be71529f0be6ede300dcdb9ba15257a4fe4ab30d33af9c |access-date=2023-07-30 |website=www.npci.org.in}}</ref><ref>{{Cite web |title=Customer BBPOUs |url=https://www.bharatbillpay.com/statistics/customer-bbpous |access-date=2023-07-30 |website=www.bharatbillpay.com}}</ref>
+In January 2023, PhonePe raised $350 million from [[General Atlantic]], a US growth equity firm, at a pre-money valuation of $12 billion.<ref>{{Cite web |last=Rawat |first=Aman |date=2023-01-19 |title=PhonePe raises $350 mn from General Atlantic at $12 bn valuation |url=https://www.livemint.com/companies/start-ups/phonepe-raises-350-mn-from-general-atlantic-at-12-bn-valuation-11674108233101.html |access-date=2023-03-29 |website=mint |language=en |archive-date=19 April 2023 |archive-url=https://web.archive.org/web/20230419102302/https://www.livemint.com/companies/start-ups/phonepe-raises-350-mn-from-general-atlantic-at-12-bn-valuation-11674108233101.html |url-status=live }}</ref> It raised another $100 million in primary capital in February 2023 from [[Ribbit Capital]], [[Tiger Global Management|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.<ref>{{Cite web |title=PhonePe raises $100 million in additional funding |url=https://www.financialexpress.com/industry/phonepe-raises-100-million-in-additional-funding/2981617/ |access-date=2023-03-29 |website=Financialexpress |date=15 February 2023 |language=en |archive-date=4 April 2023 |archive-url=https://web.archive.org/web/20230404105443/https://www.financialexpress.com/industry/phonepe-raises-100-million-in-additional-funding/2981617/ |url-status=live }}</ref><ref>{{Cite news |date=2023-05-23 |title=PhonePe gets another $100 million from General Atlantic; total funding rises to $850 million |work=The Economic Times |url=https://economictimes.indiatimes.com/tech/funding/phonepe-raises-additional-100-million-from-general-atlantic/articleshow/100413143.cms?from=mdr |access-date=2023-07-26 |issn=0013-0389}}</ref>
-In January 2023, PhonePe Technology Services Private Limited, a subsidiary of PhonePe, obtained regulatory approval from the Reserve Bank of India (RBI) to operate as an Account Aggregator. The license allows the company to introduce a platform facilitating secure and consent-based exchange of financial data between users and providers of financial information.<ref name=":10" /><ref name=":10" />
+In April 2023, PhonePe launched a new shopping app called 'Pincode', focused on [[hyperlocal]] e-commerce and built on top of the [[Open Network for Digital Commerce|ONDC]] platform.<ref>{{Cite web |date=2024-11-27 |title=PhonePe's Pincode Takes on Blinkit, Instamart Across Metros in Quick Commerce Game |url=https://www.outlookbusiness.com/start-up/phonepes-pincode-takes-on-blinkit-instamart-across-metros-in-quick-comm-game |access-date=2025-03-06 |website=Outlook Business |language=en}}</ref> In August 2023, PhonePe launched Share.Market, a stock broking and mutual fund investment platform, via its subsidiary PhonePe Wealth Broking.<ref>{{Cite web |title=PhonePe continues to earn nearly entire revenue from payments business |url=https://www.vccircle.com/phonepecontinues-to-earn-nearly-entire-revenue-from-payments-business |access-date=2025-03-06 |website=VCCircle |language=en-US}}</ref><ref>{{Cite news |title=PhonePe launches Share.Market app, enters stock broking business |url=https://www.livemint.com/companies/news/phonepe-launches-share-market-app-enters-stock-broking-business-11693388028294.html |work=Livemint}}</ref><ref>{{Cite news |last= |first= |date=2023-08-30 |title=PhonePe enters online stock broking with a new app |url=https://www.thehindu.com/sci-tech/technology/phonepe-enters-online-stock-broking-with-a-new-app/article67251374.ece |access-date=2025-03-06 |work=The Hindu |language=en-IN |issn=0971-751X}}</ref> In February 2024, PhonePe introduced Indus Appstore, a mobile [[app store]].<ref>{{Cite web |date=2024-03-05 |title=PhonePe's Indus Appstore surpasses 1 mn installations in 1 month |url=https://www.fortuneindia.com/enterprise/phonepes-indus-appstore-surpasses-1-mn-installations-in-1-month/116186 |access-date=2025-03-06 |website=www.fortuneindia.com |language=en}}</ref><ref>{{Cite web |date=2024-03-18 |title=PhonePe's Indus Appstore Crosses 1 Million Installations Within A Month |url=https://www.outlookbusiness.com/news/phonepes-indus-appstore-crosses-1-million-installations-within-a-month |access-date=2025-03-06 |website=Outlook Business |language=en}}</ref><ref>{{Cite web |title=PhonePe diversification strategy pays off, high revenue growth likely to sustain |url=https://www.moneycontrol.com/technology/phonepe-diversification-strategy-pays-off-high-revenue-growth-likely-to-sustain-article-12808510.html |archive-url=https://web.archive.org/web/20240903170142/https://www.moneycontrol.com/technology/phonepe-diversification-strategy-pays-off-high-revenue-growth-likely-to-sustain-article-12808510.html |archive-date=3 September 2024 |access-date=2025-03-06 |website=Moneycontrol |language=en-US |url-status=live }}</ref>
-In March 2023, PhonePe obtained an In-principle approval from the RBI to serve as a Payment Aggregator.<ref>{{Cite news |date=2023-03-11 |title=PhonePe gets payment aggregator licence, reaches $1 trillion annualised payment value run rate |work=The Economic Times |url=https://economictimes.indiatimes.com/tech/startups/phonepe-reaches-1-trillion-annualised-payment-value-run-rate-gets-payment-aggregator-licence/articleshow/98560681.cms?from=mdr |access-date=2023-07-30 |issn=0013-0389}}</ref>
+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]].<ref name="v539">{{cite web | title=UPI market leader PhonePe becomes a public company ahead of IPO | website=Moneycontrol | date=2025-04-18 | url=https://www.moneycontrol.com/technology/upi-market-leader-phonepe-becomes-a-public-company-ahead-of-ipo-article-12998152.html | access-date=2025-11-03}}</ref><ref name="p351">{{cite web | title=PhonePe becomes public company amid mega IPO preparations | website=mint | date=2025-04-18 | url=https://www.livemint.com/companies/news/phonepe-becomes-public-company-amid-mega-ipo-preparations-11744978561701.html | access-date=2025-11-03}}</ref> According to media reports, in September 2025, PhonePe filed draft papers with [[SEBI]] for [[IPO]] via the confidential pre filing route.<ref name="h184">{{cite web | title=PhonePe files draft prospectus for $1.5 billion IPO with Sebi through confidential route | website=The Economic Times | date=2025-09-24 | url=https://economictimes.indiatimes.com/tech/startups/phonepe-files-draft-ipo-papers-via-confidential-route/articleshow/124082872.cms?from=mdr | access-date=2025-11-03}}</ref>
 == Awards and recognition ==
-In 2018: Won the UPI Digital Innovation Award from NPCI in 2018.<ref>{{Cite news|last=Kannan|first=Uma|date=August 6, 2018|title=PhonePe eyes top slot in digital payments|newspaper=[[Deccan Herald]]|url=https://www.deccanherald.com/business/economy-business/phonepe-eyes-top-slot-digital-685738.html|access-date=11 March 2023|archive-date=27 November 2021|archive-url=https://web.archive.org/web/20211127121826/https://www.deccanherald.com/business/economy-business/phonepe-eyes-top-slot-digital-685738.html|url-status=live}}</ref>
+*In 2018: Won the UPI Digital Innovation Award from NPCI in 2018.<ref>{{Cite news|last=Kannan|first=Uma|date=6 August 2018|title=PhonePe eyes top slot in digital payments|newspaper=[[Deccan Herald]]|url=https://www.deccanherald.com/business/economy-business/phonepe-eyes-top-slot-digital-685738.html|access-date=11 March 2023|archive-date=27 November 2021|archive-url=https://web.archive.org/web/20211127121826/https://www.deccanherald.com/business/economy-business/phonepe-eyes-top-slot-digital-685738.html|url-status=live}}</ref>
+*India Advertising Awards 2018 in the Telecom and Technology category<ref name="Campaign India 2018 z755">{{cite web | title=MullenLowe Lintas Group and Ogilvy dominate the IndIAA Awards | website=Campaign India | date=2018-08-31 | url=https://www.campaignindia.in/article/mullenlowe-lintas-group-and-ogilvy-dominate-the-indiaa-awards/446901 | access-date=2024-04-19}}</ref>
 == Legal challenges ==
 On 14 January 2017, [[ICICI Bank|ICICI bank]] blocked PhonePe transactions, citing the reasons that it did not meet the [[National Payments Corporation of India|NPCI]] guidelines.<ref>{{Cite news|last=Sen|first=Anirban|date=2017-01-14|title=ICICI blocks PhonePe transactions in sign of banks moving to protect payments turf|newspaper=[[Mint (newspaper)|Mint]]|url=http://www.livemint.com/Industry/V34XcBBjpRUgPyrWPX9qzN/ICICI-blocks-PhonePe-transactions-in-sign-of-banks-moving-to.html|access-date=2017-02-20|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235422/https://www.livemint.com/Industry/V34XcBBjpRUgPyrWPX9qzN/ICICI-blocks-PhonePe-transactions-in-sign-of-banks-moving-to.html|url-status=live}}</ref><ref>{{Cite news|last=Peermohamed|first=Alnoor|date=2017-01-16|title=ICICI Bank blocks transactions through Flipkart wallet PhonePe|newspaper=[[Business Standard]]|url=http://www.business-standard.com/article/companies/icici-bank-blocks-transactions-through-flipkart-wallet-phonepe-117011500600_1.html|access-date=2017-02-20|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235424/https://www.business-standard.com/article/companies/icici-bank-blocks-transactions-through-flipkart-wallet-phonepe-117011500600_1.html|url-status=live}}</ref> Initially, on 19 January 2017, NPCI instructed [[ICICI Bank|ICICI]] to allow UPI transactions via PhonePe.<ref>{{Cite news|title=NPCI instructs ICICI to allow UPI transactions on PhonePe immediately|newspaper=[[The Economic Times]]|url=http://economictimes.indiatimes.com/small-biz/money/npci-instructs-icici-to-allow-upi-transactions-on-phonepe-immediately/articleshow/56669210.cms|access-date=2017-02-20|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235444/https://economictimes.indiatimes.com/small-biz/money/npci-instructs-icici-to-allow-upi-transactions-on-phonepe-immediately/articleshow/56669210.cms|url-status=live}}</ref> During this period, [[Bharti Airtel|Airtel]] too blocked PhonePe transactions on its platforms.<ref>{{Cite news|title=After ICICI Bank, Airtel also blocks PhonePe - The Economic Times|newspaper=[[The Economic Times]]|url=http://economictimes.indiatimes.com/small-biz/money/after-icici-bank-airtel-also-blocks-phonepe/articleshow/56671243.cms|access-date=2017-02-20|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235446/https://economictimes.indiatimes.com/small-biz/money/after-icici-bank-airtel-also-blocks-phonepe/articleshow/56671243.cms|url-status=live}}</ref> A day later, on 20 January 2017, NPCI renounced the previous instructions citing the reason that PhonePe indeed violated the UPI norms.<ref>{{Cite news|title=NPCI says Flipkart's PhonePe does not follow UPI rules - The Economic Times|newspaper=[[The Economic Times]]|url=http://economictimes.indiatimes.com/small-biz/money/npci-says-flipkarts-phonepe-does-not-follow-upi-rules/articleshow/56692212.cms|access-date=2017-02-20|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235421/https://economictimes.indiatimes.com/small-biz/money/npci-says-flipkarts-phonepe-does-not-follow-upi-rules/articleshow/56692212.cms|url-status=live}}</ref><ref>{{Cite news|last=IANS|date=2017-01-21|title=PhonePe app in breach of UPI guidelines: NPCI|newspaper=[[Business Standard]]|url=http://www.business-standard.com/article/companies/phonepe-app-in-breach-of-upi-guidelines-npci-117012001547_1.html|access-date=2017-02-20|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235408/https://www.business-standard.com/article/companies/phonepe-app-in-breach-of-upi-guidelines-npci-117012001547_1.html|url-status=live}}</ref><ref>{{Cite news|last=PTI|date=2017-01-20|title=PhonePe in violation of UPI norms, says NPCI in U-turn|newspaper=[[Mint (newspaper)|Mint]]|url=http://www.livemint.com/Companies/qkc3xTGBRnH0W3Xf80znLJ/Flipkarts-PhonePe-app-in-violation-of-UPI-norms-says-NPCI.html|access-date=2017-02-20|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235407/https://www.livemint.com/Companies/qkc3xTGBRnH0W3Xf80znLJ/Flipkarts-PhonePe-app-in-violation-of-UPI-norms-says-NPCI.html|url-status=live}}</ref>
-After this, PhonePe closed its operations on Flipkart's website,<ref>{{Cite news|last=Nair|first=Vishwanath|date=2017-01-21|title=PhonePe stops all UPI-based payments on Flipkart website|newspaper=[[Mint (newspaper)|Mint]]|url=http://www.livemint.com/Industry/GQBybiQPaPwL5yI65NqVtI/PhonePe-stops-all-UPIbased-payments-on-Flipkart-website.html|access-date=2017-02-20|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235431/https://www.livemint.com/Industry/GQBybiQPaPwL5yI65NqVtI/PhonePe-stops-all-UPIbased-payments-on-Flipkart-website.html|url-status=live}}</ref> to align itself with the terms stated in the updated verdict from NPCI. By February, 2017, PhonePe resolved the issues with [[ICICI Bank|ICICI]] and [[Bharti Airtel|Airtel]].<ref>{{Cite news|title=ICICI Bank resumes UPI transactions on PhonePe - The Economic Times|newspaper=[[The Economic Times]]|url=http://economictimes.indiatimes.com/small-biz/startups/icici-bank-resumes-upi-transactions-on-phonepe/articleshow/56923051.cms|access-date=2017-02-20|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235438/https://economictimes.indiatimes.com/small-biz/startups/icici-bank-resumes-upi-transactions-on-phonepe/articleshow/56923051.cms|url-status=live}}</ref><ref>{{Cite web|title=Flipkart's PhonePe resolves issues with ICICI, claims 70x growth|url=http://www.moneycontrol.com/news/sme/flipkart%E2%80%99s-phonepe-resolves-issuesicici-claims-70x-growth_8527261.html|access-date=2017-02-20|website=[[Moneycontrol.com]]|archive-date=22 February 2017|archive-url=https://web.archive.org/web/20170222061356/http://www.moneycontrol.com/news/sme/flipkart%E2%80%99s-phonepe-resolves-issuesicici-claims-70x-growth_8527261.html|url-status=live}}</ref>
+After this, PhonePe closed its operations on Flipkart's website,<ref>{{Cite news|last=Nair|first=Vishwanath|date=2017-01-21|title=PhonePe stops all UPI-based payments on Flipkart website|newspaper=[[Mint (newspaper)|Mint]]|url=http://www.livemint.com/Industry/GQBybiQPaPwL5yI65NqVtI/PhonePe-stops-all-UPIbased-payments-on-Flipkart-website.html|access-date=2017-02-20|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235431/https://www.livemint.com/Industry/GQBybiQPaPwL5yI65NqVtI/PhonePe-stops-all-UPIbased-payments-on-Flipkart-website.html|url-status=live}}</ref> to align itself with the terms stated in the updated verdict from NPCI. By February 2017, PhonePe resolved the issues with [[ICICI Bank|ICICI]] and [[Bharti Airtel|Airtel]].<ref>{{Cite news|title=ICICI Bank resumes UPI transactions on PhonePe - The Economic Times|newspaper=[[The Economic Times]]|url=http://economictimes.indiatimes.com/small-biz/startups/icici-bank-resumes-upi-transactions-on-phonepe/articleshow/56923051.cms|access-date=2017-02-20|archive-date=25 December 2018|archive-url=https://web.archive.org/web/20181225235438/https://economictimes.indiatimes.com/small-biz/startups/icici-bank-resumes-upi-transactions-on-phonepe/articleshow/56923051.cms|url-status=live}}</ref>
 == ESOP ==
-PhonePe allots [[Employee stock ownership|employee stock options]] (ESOPs) to its full time employees.<ref>{{Cite news|last=Abrar|first=Peerzada|date=2021-02-04|title=PhonePe distributes ESOPs worth Rs 1,500 crore among all employees|work=Business Standard India|url=https://www.business-standard.com/article/companies/phonepe-distributes-esops-worth-rs-1-500-crore-among-all-employees-121020401698_1.html|access-date=2021-03-29|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206053550/https://www.business-standard.com/article/companies/phonepe-distributes-esops-worth-rs-1-500-crore-among-all-employees-121020401698_1.html|url-status=live}}</ref> In November 2021, PhonePe was reported to have conducted a buyback of ESOPs worth ₹135 crore, covering 75% of its current workforce who have completed at least a year of service.<ref>{{Cite news|title=PhonePe conducts Rs 135-crore ESOP buyback|work=The Economic Times|url=https://economictimes.indiatimes.com/tech/startups/phonepe-conducts-rs-135-crore-esop-buyback/articleshow/87796676.cms?from=mdr|access-date=2022-01-29|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206052049/https://economictimes.indiatimes.com/tech/startups/phonepe-conducts-rs-135-crore-esop-buyback/articleshow/87796676.cms?from=mdr|url-status=live}}</ref>
+PhonePe allots [[Employee stock ownership|employee stock options]] (ESOPs) to its full-time employees.<ref>{{Cite news|last=Abrar|first=Peerzada|date=2021-02-04|title=PhonePe distributes ESOPs worth Rs 1,500 crore among all employees|work=Business Standard India|url=https://www.business-standard.com/article/companies/phonepe-distributes-esops-worth-rs-1-500-crore-among-all-employees-121020401698_1.html|access-date=2021-03-29|archive-date=6 February 2023|archive-url=https://web.archive.org/web/20230206053550/https://www.business-standard.com/article/companies/phonepe-distributes-esops-worth-rs-1-500-crore-among-all-employees-121020401698_1.html|url-status=live}}</ref> In November 2021, PhonePe was reported to have conducted a buyback of ESOPs worth {{INRConvert|1.35|b|year=2023}}, covering 75% of its current workforce who have completed at least a year of service.<ref>{{Cite web |title=PhonePe announces ₹135 cr ESOPs buyback programme from employees this year |url=https://www.livemint.com/companies/news/phonepe-announces-rs-135-cr-esops-buyback-programme-from-employees-this-year-11637309680573.html |website=Live Mint}}</ref>
 == See also ==
@@ Line 155: / Line 68: @@
 * [[List of online payment service providers]]
 * [[Payment gateway]]
-* [[Fintech]]
-* [[Financial services]]
-* [[Mutual fund]]
-* [[Insurance]]
-* [[Digital gold currency|Digital gold]]
 == References ==
@@ Line 169: / Line 77: @@
 {{Banking in India}}
-{{Mobile payments}}
+{{Digital payment providers}}
 {{FinTech in India}}
 {{Flipkart}}
@@ Line 176: / Line 84: @@
 [[Category:Payment systems]]
 [[Category:Flipkart acquisitions]]
-[[Category:Companies based in Bangalore]]
+[[Category:Companies based in Bengaluru]]
 [[Category:Financial services companies established in 2015]]
 [[Category:E-commerce in India]]