
PhonePe

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About PhonePe

PhonePe Private Limited or PhonePe is an Indian e-commerce payment system and digital wallet company headquartered in Bangalore, India. It was founded in December 2015,[3] by Sameer Nigam and Rahul Chari. PhonePe app went live in August 2016 and was the first payment app built on Unified Payments Interface (UPI). The PhonePe app is available in over 11 Indian languages.Using PhonePe, users can send and receive money, DTH, recharge mobile, data cards, make utility payments, buy gold and shop online and offline. In addition PhonePe also allows users to book Ola rides, pay for Redbus tickets, order food on Freshmenu, eaf, fit and avail Goibibo Flight and Hotel services through microapps on its platform.

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![]() | ![]() Change Company | ![]() Change Company | ![]() Change Company | |
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Overall Rating | 4.0/5 based on 2.7k reviews | 3.2/5 based on 8.1k reviews | 2.9/5 based on 2.6k reviews | 3.9/5 based on 5.9k reviews |
Highly Rated for | Salary Skill development Work-life balance | ![]() No highly rated category | ![]() No highly rated category | Work-life balance Company culture |
Critically Rated for | ![]() No critically rated category | Job security Company culture Promotions | Promotions Company culture Work satisfaction | Promotions |
Primary Work Policy | Work from office 47% employees reported | Work from office 50% employees reported | Work from office 92% employees reported | Hybrid 75% employees reported |
Rating by Women Employees | 3.5 Good rated by 199 women | 3.2 Average rated by 676 women | 2.9 Poor rated by 640 women | 3.9 Good rated by 1.4k women |
Rating by Men Employees | 4.0 Good rated by 2.4k men | 3.2 Average rated by 7k men | 2.9 Poor rated by 1.8k men | 3.9 Good rated by 4.2k men |
Job security | 3.8 Good | 2.7 Poor | 2.8 Poor | 3.7 Good |
PhonePe Salaries
Key Accounts Executive

Business Development Executive

Territory Sales Manager

Software Engineer

Area Sales Manager

Business Development Associate

Team Lead

Sales Executive

Senior Territory Sales Manager

Cluster Manager

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PhonePe News
RBI advises banks to integrate DoT's financial fraud technology
- RBI has advised banks to integrate DoT's Financial Fraud Risk Indicator (FRI), which classifies mobile numbers based on their association with risk of financial fraud.
- The data for FRI is collected from various sources including I4C's NCRP, DoT's Chakshu platform, and intelligence shared by banks and financial institutions.
- Leading institutions like PhonePe, Punjab National Bank, HDFC Bank, ICICI Bank, Paytm, and India Post Payments Bank are actively using the FRI platform after its launch by DoT.
- DoT considers RBI's advisory as a significant step in combating cyber-enabled financial frauds and emphasizes inter-agency collaboration in securing citizens in India's digital economy.
PhonePe and HDFC Bank partner to launch co-branded credit card
- PhonePe and HDFC Bank have launched the 'PhonePe HDFC Bank Co-branded Credit Card' to cater to the evolving financial needs of Indian consumers, offering benefits on UPI spends, particularly on the PhonePe Platform.
- The co-branded RuPay Credit Cards, available in 'Ultimo' and 'UNO' variants, provide rewards on various spending categories such as recharge, bill payments, travel, online shopping, groceries, and cabs, while seamlessly integrating with UPI for everyday spends.
- Sonika Chandra, Chief Business Officer, Consumer Payments at PhonePe, emphasized the card's focus on providing value and 10% reward points on select categories like bill payments, recharges, and travel bookings. The partnership with HDFC Bank aims to enhance the credit card experience for millions of Indians.
- The card will be gradually introduced to eligible PhonePe users, combining HDFC Bank's banking expertise and PhonePe's fintech capabilities to deliver a user-friendly credit card experience.

Govt Working With Google Pay, Paytm To Block Real-Time Payments Fraud: Report
- The Indian government is collaborating with third-party UPI apps like Google Pay, PhonePe, and Paytm to enhance safety measures against real-time payments fraud.
- The initiative aims to detect and block suspicious transactions in real time, especially those targeting users with lower digital literacy to reduce fraudulent activities.
- To achieve this, platforms may introduce slight delays, issue fraud alerts, and prompt users for additional confirmation for potentially fraudulent transactions, even if it extends the processing time.
- Platforms like Google Pay, PhonePe, and Paytm are adopting a risk-based approach using artificial intelligence to identify and flag risky transactions, potentially reducing payment fraud through UPI apps.

PhonePe hires JPMorgan Chase, Citigroup, Morgan Stanley and Kotak as IPO bankers: Report
- PhonePe, India’s largest digital payments platform, has selected four global investment banks - JPMorgan Chase, Citigroup, Morgan Stanley, and Kotak Mahindra Capital - to handle its forthcoming IPO.
- The company is aiming to raise $1.5 billion in the IPO, potentially boosting its valuation to $15 billion.
- PhonePe is projected to file its draft red herring prospectus (DRHP) by August, with plans for a listing later this year.
- This IPO signifies PhonePe's shift from a high-growth startup to a publicly traded firm following its restructuring into a public limited company in April 2025.
- Founded in 2016 and originally based in Singapore, PhonePe later relocated its headquarters to India in 2022 to enable regulatory compliance and facilitate an IPO on Indian exchanges.
- PhonePe has now legally transferred the ownership of its IndusOS Appstore to India as part of its IPO arrangements.
- As of May 2025, PhonePe boasts 61 crore registered users, 4 crore merchants, over 34 crore daily transactions, and a total payment value exceeding Rs 150 lakh crore.
- In FY24, PhonePe's revenue reached Rs 5,064 crore, up 74% from FY23, with narrowed net losses of Rs 1,996 crore compared to Rs 2,795 crore in the previous year.
- Excluding ESOP expenses, PhonePe showed a consolidated net profit of Rs 197 crore in FY24.
- The company has raised around Rs 18,000 crore ($2.2 billion) to date, with significant investments coming from General Atlantic, Walmart, Ribbit Capital, Tiger Global, and TVS Capital Funds.

‘Unfolding India story’ fascinates Walmart CEO
- Walmart CEO, Doug McMillon, showed interest in Indian products during his visit to India, seeking recommendations for his wife's birthday gifts at a jewellery counter.
- Nisha Nair from Yamini Lifestyles, a beneficiary of Walmart's Vriddhi Supplier Development Programme, answered his inquiries.
- McMillon praised Bala Sarda, CEO of Vahdam, an international Walmart seller, for the tea brand's growth.
- During his two-day trip, McMillon engaged with suppliers, MSMEs, and business teams of Flipkart, Walmart, and PhonePe.
- He reiterated Walmart's goal to annually source $10 billion worth of goods from India, aiming to support India's economic growth.
- McMillon traced Walmart's journey in India, from limited sourcing categories to targeting $10 billion annually with suppliers' collaboration by 2027.
- He highlighted the learnings from Walmart's acquisitions of Flipkart and PhonePe, focusing on innovation, customer service, and opportunities created.
Walmart CEO: Working with Indian suppliers to hit $10 billion sourcing goal
- Walmart CEO, Doug McMillon, expresses commitment to working with Indian suppliers to achieve a $10 billion sourcing goal during an event in India.
- McMillon highlights Walmart's long-standing relationship with India and its growth opportunities, aiming to strengthen the country while serving its citizens.
- Walmart has been present in India for over 20 years, initially sourcing products across limited categories, but now aiming for a $10 billion annual sourcing target.
- In 2020, Walmart announced a goal to triple its annual sourcing from India by 2027, having sourced goods worth over $30 billion in the past two decades.
- Walmart Global Tech, operating in India since 2008, plays a crucial role in driving innovation and supporting customers worldwide.
- Walmart acquired a 77% stake in Flipkart in 2018 and acknowledges the inspiring growth of Flipkart and Phonepe businesses, emphasizing innovation and customer service.
- McMillon praises the progress and future prospects of Phonepe, with its financial services positively impacting various sectors, including small businesses and agriculture.
- During his visit to India, McMillon engaged with teams from Flipkart, Myntra, Phonepe, Walmart Global Tech, and Walmart Sourcing, as well as interacting with sellers and beneficiaries of Walmart's initiatives.
PhonePe Reportedly Planning India IPO to Raise Up to US$1.5 Billion
- PhonePe, majority-owned by Walmart Inc., is reportedly preparing for an IPO to raise up to US$1.5 billion.
- The IPO could value PhonePe at around US$15 billion, with a draft prospectus expected to be filed by August.
- Founded in 2015, PhonePe is one of India's largest digital payments platforms by volume.
- The company processes over 300 million transactions daily and serves more than 600 million users across 40 million merchants.
- PhonePe operates primarily on India's Unified Payments Interface (UPI), a fast-growing real-time payments system.
- Kotak Mahindra Capital, JPMorgan Chase, Citigroup, and Morgan Stanley are reportedly appointed to manage the offering.
- Walmart and PhonePe have not commented on the IPO plans.
- PhonePe's IPO news was reported by Bloomberg via DealStreetAsia.
- PhonePe is a major player in the Indian fintech market.
- The IPO could potentially boost PhonePe's financial standing and expansion plans.
- The reported valuation of US$15 billion showcases PhonePe's significant market presence.
- PhonePe's daily transaction volume and user reach highlight its market importance.
- The company's reliance on UPI indicates its integration with India's digital payment ecosystem.
- The appointed banks indicate a strong financial backing for PhonePe's IPO.
- PhonePe's IPO news can impact India's fintech landscape and investor interest.
- The potential IPO underlines PhonePe's growth ambitions and strategic moves in the digital payments sector.

PhonePe Reportedly Targeting $1.5 Billion in India IPO
- PhonePe, an Indian digital payments provider, is reportedly planning to go public in an IPO.
- The Walmart-backed company is looking to raise up to $1.5 billion in the IPO, valuing the company at around $15 billion.
- PhonePe has more than 610 million registered users and handles 340 million rupees of transactions daily.
- The company raised $100 million in February 2023 and received an additional $200 million weeks later.
- PhonePe's IPO documents could be filed as soon as August, as per sources.
- The company was founded in 2015 and became the largest payments platform in India.
- PhonePe was acquired by Flipkart in 2016 and Walmart remained the majority shareholder for both firms.
- India has been advancing in digital payments for almost two decades, with key milestones like the introduction of UPI and demonetization.
- Digital wallets are the preferred payment method for 55% of retail purchases in India.
- Around the world, mobile wallets fueled 35% of online transactions and 21% of in-store transactions in 2024.
- In-store digital wallet payments grew by 10.9% and online usage increased by 5.2% since 2022.
- Consumers value mobile wallets for faster checkouts, biometric security, and embedded rewards.
- PYMNTS illustrates the growth of mobile wallet usage in the context of digital payments.
- The article did not explicitly mention any potential disqualifying content for web story generation.
- PhonePe's IPO plans signify its strategic move in the expanding digital payments sector.

SECI set to finalise tender for 7,24,000 tonne green ammonia production annually
- SECI is finalizing a tender for annual production of 7,24,000 tonnes of green ammonia, aiding low-emission fertilizer production.
- The tender aims to produce green hydrogen and ammonia using renewable energy sources, reducing greenhouse gas emissions.
- SECI will secure demand aggregation and sign long-term offtake agreements to provide market stability over a 10-year period.
- Financial incentives under the National Green Hydrogen Mission include Production Linked Incentives totaling ₹1,533.4 crore.
- A Payment Security Mechanism is in place to mitigate payment delays from fertilizer companies.
- India currently consumes 17-19 million tonnes of ammonia annually, with a significant portion derived from imported natural gas.
- SECI's initiative aims to decrease India's reliance on imported natural gas and lower exposure to global gas price fluctuations.
- Green hydrogen production emits less than 2 kg of CO2 per kilogram compared to conventional grey hydrogen.
- SECI's tender was issued on June 7, 2024, with a bid submission deadline of June 26, 2025.
- The government is promoting domestic green ammonia production to reduce environmental impact and dependency on fossil fuels.
- SECI's efforts align with the goal of promoting sustainable and environmentally friendly practices in the industrial sector.
- Walmart-backed PhonePe is preparing for a $1.5 billion IPO, as reported by Bloomberg News.
- The initiative is part of efforts to ensure financial viability and sustainable production of green ammonia in India.
- SECI's actions are expected to contribute to India's self-reliance in fertilizer production and reduce carbon emissions.
- Published on June 23, 2025.
SEBI’s ESOP relief to boost startups’ IPO dreams
- SEBI has eased ESOP rules for startup founders, allowing them to retain ESOPs or SARs granted up to one year before filing the DRHP.
- This change aims to boost domestic listings, prevent startups from flipping to foreign domiciles, and support IPO dreams.
- The decision has been praised by industry bodies like Startup Policy Forum and Indian Venture and Alternate Capital Association.
- The reform facilitates more realistic equity mapping and fosters long-term thinking among founders.
- It enables startups to retain key talent through transparent ESOP structuring and strengthens alignment with investors early in the IPO journey.
- Around 20 startups, including Flipkart and PhonePe, are in various stages of their IPO journey and can benefit from these relaxed ESOP rules.
- Founders' ability to retain ESOPs post-IPO incentivizes them to continue growing the business, benefiting investors as well.
- SEBI's ESOP relief is seen as a significant policy nudge encouraging startups to build from India, promoting reverse flipping, and reducing compliance friction.
- This change particularly benefits founders registered with DPIIT who were previously restricted due to the Companies Act, 2013.
- Startups under the Startup India initiative can now issue ESOPs to founders and directors even if they hold more than 10 percent equity.
- The exemption from SEBI's restriction on liquidating ESOPs during IPOs further supports the Indian startup ecosystem.


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