PhonePe Pulse is an interactive website with data insight and trends on digital payments in the country, and will show data of more than 2,000 Cr transactions by consumers
PhonePe has also launched Pulse Report, which comprises an in-depth study on the evolution of digital payments over the last five years
The reports will be available for free download on the Pulse website for everyone ranging from the government to academic institution, and in between
Fintech platform PhonePe has announced its interactive website with data, insights and trends on digital payments in the country called ‘PhonePe Pulse’. The fintech unicorn claims that the website showcases more than 2,000 Cr transactions by consumers on an interactive map of India.
With over 45% market share of the UPI segment in India, it posits its data represents the country’s digital payment habits.
PhonePe said it has also launched ‘Pulse Report’, an in-depth study on the evolution of digital payments over the past five years. The report offers insights on how digital payment adoption across India has evolved since 2016 and includes detailed geographical and category-specific trends.
The insights on the website are based on the entirety of PhonePe’s transaction data combined with merchant and customer interviews.
Launched in 2015 by Sameer Nigam, Burzin Engineer and Rahul Chari, PhonePe offers a digital payments platform where consumers can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments and more.
The startup claims the new website will be pertinent to various ecosystem stakeholders, including government, policymakers, regulatory bodies, media, industry analysts, merchant partners, startups, academic institutions and students.
“PhonePe Pulse is an extension of our open platform approach to the information we have garnered at scale with the view of democratising the access to this data for the benefit of other stakeholders in the ecosystem. The end product today is only the start, and we hope others take the same approach to data sharing and transparency,” said Chari.
PhonePe has been expanding its verticals of business aggressively. In the last month alone, the Flipkart-owned unicorn received its insurance broking license from IRDAI to diversify into direct broking.
In addition, it also received approval from the RBI to function as an account aggregator. Now, the startup can exchange financial data between the financial information users (FIUs) and financial information providers (FIPs) with customers’ consent instantly and free of charge.
Besides, PhonePe is also set to apply for its mutual fund’s license to play in the stock market. It will act as a sponsor/promoter to a mutual fund, an investment trust, or an asset manager. In addition, it could also incorporate and/or acquire asset management companies.
The company will most certainly be applying to market regulator SEBI to set up its AMC business.
