PhonePe was founded in December 2015, and has emerged as India’s largest payments app, enabling digital inclusion for consumers and merchants alike. With over 40 Crore (400+ million) registered users, one in four Indians are now on PhonePe. The company has also successfully digitized 3.2 Crore (32 million) offline merchants spread across Tier 2,3,4 and beyond, covering 99% pin codes in the country. PhonePe forayed into financial services in 2017, providing users with a safe and convenient option to buy 24-karat gold, and has recently also launched silver on its platform. Since then, PhonePe has introduced several Mutual Funds and Insurance products like tax-saving funds, liquid funds, international travel insurance, life insurance, COVID-19 insurance amongst others. Using PhonePe, users can also send and receive money, recharge mobile, DTH, pay at stores and make all their utility payments. PhonePe was recently recognized as the Most Trusted Brand for Digital Payments as per the Brand Trust Report 2022 by Trust Research Advisory (TRA).
