PhonePe Business Model: New Way Of Doing Cashless Transactions
                     PHONEPE BUSINESS MODEL: NEW WAY 
OF DOING CASHLESS TRANSACTIONS
ONLINE PAYMENTS ARE THE NEW WAY OF 
TRANSACTION, AS THE CASHLESS THING CAME 
INTO EXISTENCE ONLINE PAYMENT START 
GAINING THE INTEREST OF THE PEOPLE AND 
GET SUCCESS IN THE MARKET. ONLINE PAYMENT 
IS SO CONVENIENT TO PEOPLE, NOWADAYS THAT 
EVERYBODY WANTS TO GET ALL THEIR WORK 
DONE WHILE SITTING ON A CHAIR, NO NEED TO 
GO ANYWHERE OR STAND IN LINES FOR HOURS, 
THE ONLINE PAYMENT APPS TAKE CARE OF ALL 
YOUR NEEDS.
FxMart received its license to operate on 26 
August 2014. Phonepe was incorporated in 
December 2015. The company was acquired by 
Flipkart in April 2016 and as part of the Flipkart 
acquisition, the FxMart license was transferred to 
PhonePe and it was rebranded as the Phonpe 
Wallet. Founder of PhonePe Sameer Nigam was 
appointed as the CEO of the company.
The company was partnered with YES Bank in 
August 2016, then launched the UPI-based mobile 
payment app, based on a government-backed UPI 
platform.
IN THE TIME OF 3 MONTHS, THE APP WAS 
DOWNLOADED BY MORE THAN 10 MILLION USERS, 
IN 2018 PHONEPE BECOME ONE OF THE FASTEST 
INDIAN PAYMENT APPS TO GET A 50 MILLION 
BADGE ON THE GOOGLE PLAY STORE. IN AUGUST 
2017 PHONEPE TOOK OVER THE BHIM AND 
EMERGE AS ONE OF THE MARKET LEADERS IN UPI 
TRANSACTIONS.
THE PHONEPE BUSINESS MODEL
• PHONE PAY WAS FOUNDED BY SAMEER NIGAM, RAHUL CHARI, AND BURZIN 
ENGINEER IN DECEMBER 2015. THE PHONEPE APP, BASED ON THE UNIFIED 
PAYMENTS INTERFACE (UPI), WENT LIVE IN AUGUST 2016.
• PHONEPE IS AN INDIAN DIGITAL PAYMENTS AND FINANCIAL SERVICES COMPANY 
HEADQUARTERED IN BANGALORE, INDIA.
• PHONEPE IS AVAILABLE IN MORE THAN 11 INDIAN LANGUAGES AND ACCEPTED 
AS A PAYMENT OPTION AT OVER 17.5 MILLION OFFLINE AND ONLINE MERCHANT 
OUTLETS ACROSS 500 CITIES ALL OVER INDIA COVERING THE AREA OF FOOD, 
TRAVEL, GROCERIES, MEDICINES, MOVIE TICKETS.
• USERS OF PHONEPE CAN SEND AND RECEIVE MONEY, RECHARGE MOBILE, DTH, 
DATA CARDS, PAY TO SHOPS, INVEST IN TAX SAVING FUNDS, LIQUID FUNDS, BY 
INSURANCE AND MUTUAL FUNDS, AND GOLD CAN MAKE UTILITY PAYMENTS.
• MORE THAN THIS PHONE PAY ALLOWS USERS TO BOOK OLA RIDES, PAY FOR 
TRAVEL TICKETS, AND BOOK FLIGHTS AND HOTELS.
• PHONEPE IS LICENSED BY THE RESERVE BANK OF INDIA FOR ISSUANCE AND 
OPERATION OF A SEMI-CLOSED PREPAID PAYMENT SYSTEM WITH AUTHORIZATION 
NUMBER 75/2014 DATED 22 AUGUST 2014.
COMPETITORS
•JUST LIKE EVERY CLOTHING, FOOTWEAR, BEAUTY PRODUCTS, ETC. HAVE DIFFERENT BRANDS AND COMPETITORS, ONLINE PAYMENT 
APPS ALSO HAVE DIFFERENT PLAYERS, SOME OF THEM ARE MENTIONED BELOW.
•PAYTM:
•PAYTM IS ONE OF THE VERY KNOWN ONLINE PAYMENT APPS. MORE THAN 20 MILLION MERCHANTS ALL OVER INDIA USE THEIR QR 
CODE PAYMENT SYSTEM TO ACCEPT PAYMENTS DIRECTLY INTO THEIR BANK ACCOUNT. THE COMPANY ALSO USES ADVERTISEMENTS, 
PAID PROMOTIONAL CONTENT TO GENERATE REVENUES.
•GOOGLEPAY.
•GOOGLE PAY IS AN ONLINE PAYMENT SYSTEM DEVELOPED BY GOOGLE, ENABLING USERS TO MAKE PAYMENTS WITH ANDROID 
PHONES, TABLETS, OR WATCHES.
•THE USP OF GOOGLE PAY IS THAT IT SUPPORTS PASSES SUGGEST COUPONS, BOARDING PASSES FORMER CAMPUS ID CARDS, CAR 
KEYS, EVENT TICKETS, MOVIE TICKETS, PUBLIC TRANSPORTATION TICKETS, STORE CARDS, AND LOYALTY CARDS WHICH MAKE 
GOOGLE PAY A COMPOTATOR TO THE PHONEPE BUSINESS MODEL.
•MOBIKWIK.
•MOBIKWIK IS ONE OF INDIA’S LARGEST DIGITAL PAYMENT PLATFORMS WHICH IS SERVING MORE THAN 12 CRORE USERS WITH A 
QUICK TRANSACTION, MOBILE TRANSFER, CELL CREDIT SERVICE, AND MUCH MORE.
•MOBIKWIK ENABLES BETTER ENGAGEMENT OF BUSINESSES WITH INDIVIDUALS THROUGH MULTIPLE OPTIONS OF ONLINE BILL 
PAYMENT MODES. IT HAS GROWN OVER THE YEARS TO BUILD A SMOOTH, SAFE AND SECURE PLATFORM FOR A HASSLE-FREE 
EXPERIENCE FOR USERS.
•RAZORPAY.
•RAZORPAY IS THE ONLY PAYMENT SOLUTION IN INDIA THAT ALLOWS BUSINESSES TO ACCEPT, PROCESS, AND DISBURSE PAYMENTS 
WITH ITS PRODUCTS SUITE. IT GIVES USERS ACCESS TO ALL PAYMENT MODES INCLUDING CREDIT CARD, DEBIT CARD, NET BANKING, 
UPI, AND POPULAR WALLETS INCLUDING JIO MONEY, MOVIE QUICK, AIRTEL MONEY, FREE CHARGE, OLA MONEY, AND PAYZAPP.
•PAYPAL.
•THROUGH A COMBINATION OF TECHNOLOGICAL INNOVATION AND STRATEGIC PARTNERSHIPS, PAYPAL CREATES BETTER WAYS TO 
MANAGE AND MOVE MONEY AND OFFERS CHOICE AND FLEXIBILITY WHEN SENDING PAYMENTS, PAYING, OR GETTING PAID.
•AVAILABLE OVER 200 MARKETS AROUND THE GLOBE, INCLUDING BRAINTREE, VENMO, AND XOOM, ENABLE CONSUMERS AND 
MERCHANTS TO RECEIVE MONEY OVER 100 CURRENCIES, WITHDRAW FUNDS IN 56 CURRENCIES, AND HOLD BALANCES IN THEIR 
PAYPAL ACCOUNTS IN 25 CURRENCIES.
CONCLUSION
• WIN THE BEST MOBILE PAYMENT SERVICE 
CATEGORY AND THE TECHNOLOGY CATEGORY 
AT IAMAI INDIA DIGITAL AWARDS.
• THE PHONE PAY ATM GOES LIVE ACROSS 10 
LAC STORES IN 300 CITIES.
• LAUNCHES LIQUID FUNDS, SUPER FUNDS AND 
SEVEN MORE CURATED MUTUAL FUND 
CATEGORY PRODUCTS.
• LAUNCHES TRAVEL INSURANCE, CORONAVIRUS 
INSURANCE, AND MOTOR INSURANCE & 
INSURANCE OFFERINGS.
• BECOMES INDIA’S FASTEST-GROWING 
INSURETECH DISTRIBUTOR WITH THE SALE OF 
FIVE LAKHS POLICIES IN FIVE MONTHS.
• GROSS IS THE 250,000,000 REGISTERED 
USERS, THE MARKET-LEADING SHARE OF OVER 
40% IN UPI TRANSACTIONS.
THANK YOU
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