The emphasis is on comfort and ease in today's world and the banking industry has seen quite a revolution in this matter. Carrying cash was rather cumbersome, which led to the birth of digital payments and mobile wallets and PhonePe has grown up to be one of the major exponents in this sector.
Mobile apps are the preferred method for the payment of groceries, utility bills, phone recharge, etc. Even large transactions are now done digitally rather than in cash, which has not only removed the risk factors in the physical world but also streamlined the whole banking and finance sector for good.
PhonePe is one such payment app that has made the lives of millions of Indians simple. Founded in December 2015, the Indian UPI-based app PhonePe has been acquired by Flipkart and its parent Walmart, a year later, after which it ushered in an era of growth and expansion for itself and never turned back. Flipkart currently owns 87% of PhonePe's stakes while its parent owns another 10% of them, while the remaining stakes are held by the minority shareholders of Flipkart.
PhonePe is currently hailed as the market leader in the digital payments space of India. The app allows users to maintain their bank accounts digitally, access them at their convenience, and use their funds for all the purposes that they want. They can easily link their credit cards and debit cards with a mobile wallet to make their digital payments. Furthermore, instant money transfers can also be done through PhonePe. These are only some instances when PhonePe appears to be indispensable and trust us, there are more!
Answers & Comments
Verified answer
Phonepe
The emphasis is on comfort and ease in today's world and the banking industry has seen quite a revolution in this matter. Carrying cash was rather cumbersome, which led to the birth of digital payments and mobile wallets and PhonePe has grown up to be one of the major exponents in this sector.
Mobile apps are the preferred method for the payment of groceries, utility bills, phone recharge, etc. Even large transactions are now done digitally rather than in cash, which has not only removed the risk factors in the physical world but also streamlined the whole banking and finance sector for good.
PhonePe is one such payment app that has made the lives of millions of Indians simple. Founded in December 2015, the Indian UPI-based app PhonePe has been acquired by Flipkart and its parent Walmart, a year later, after which it ushered in an era of growth and expansion for itself and never turned back. Flipkart currently owns 87% of PhonePe's stakes while its parent owns another 10% of them, while the remaining stakes are held by the minority shareholders of Flipkart.
PhonePe is currently hailed as the market leader in the digital payments space of India. The app allows users to maintain their bank accounts digitally, access them at their convenience, and use their funds for all the purposes that they want. They can easily link their credit cards and debit cards with a mobile wallet to make their digital payments. Furthermore, instant money transfers can also be done through PhonePe. These are only some instances when PhonePe appears to be indispensable and trust us, there are more!