PhonePe is an Indian digital payments and financial services company and one of the largest UPI apps by users and transaction share.

Where is PhonePe headquartered?

PhonePe is headquartered in Bengaluru, India.

PhonePe was founded by Sameer Nigam, Rahul Chari, Burzin Engineer.

What type of company is PhonePe?

PhonePe is described as Private in its neobank.wiki profile.

PhonePe

PhonePe is an Indian financial technology company best known for its Unified Payments Interface (UPI) app. Founded in 2015 and later owned by Walmart through Flipkart, it is among India's largest digital payments platforms by registered users and UPI market share, and has expanded into insurance, mutual funds, lending and a payments switch for merchants.1

History

PhonePe was founded in Bengaluru in 2015 and was acquired by Flipkart shortly afterward. After Walmart bought Flipkart, PhonePe remained a strategically important fintech asset and later pursued greater operational independence while continuing to scale UPI payments. India's real-time UPI rails enabled PhonePe and peers such as Google Pay and Paytm to reach mass-market adoption far beyond classic branch banking.2

Founders

Sameer Nigam is co-founder and chief executive officer of PhonePe. A former Flipkart executive, he built PhonePe into a leading UPI consumer app and merchant platform. Rahul Chari is co-founder and chief technology officer, leading engineering for the payments stack. Burzin Engineer is co-founder and has held senior technology leadership roles. The founding team commercialised UPI-era mobile payments at national scale.

Model and licences

PhonePe operates primarily as a payments and financial-services distributor rather than a full-service deposit bank like Jupiter's partner-bank neobank model. It partners with banks for UPI handles and deposit products, holds licences/registrations appropriate to payments, insurance distribution and wealth products, and builds switch and acceptance infrastructure for merchants. The core growth engine is UPI P2P and merchant payments.

Products

The consumer app supports UPI transfers, bill payments, merchant QR payments, recharges and financial-product storefronts (insurance, mutual funds, lending). PhonePe also offers merchant acceptance tools and has built payments infrastructure products aimed at banks and platforms. Indus Appstore was launched as an Android app store adjacent to the fintech core.

Reception

PhonePe is routinely named among the top UPI apps in India by volume share. Global neobank rankings that count "users" often place PhonePe near the top worldwide—illustrating how Indian payments super-apps dwarf many Western deposit neobanks by headcount even when they are not licensed banks.

References

PhonePe is a leading Indian UPI payments and financial services company. https://www.phonepe.com/
PhonePe was acquired by Flipkart and later operated within the Walmart–Flipkart group while scaling UPI. https://www.npci.org.in/what-we-do/upi/product-overview

Frequently asked questions

What is PhonePe?: PhonePe is an Indian digital payments and financial services company and one of the largest UPI apps by users and transaction share.
When was PhonePe founded?: PhonePe was founded in 2015.
Where is PhonePe headquartered?: PhonePe is headquartered in Bengaluru, India.
Who founded PhonePe?: PhonePe was founded by Sameer Nigam, Rahul Chari, Burzin Engineer.
What type of company is PhonePe?: PhonePe is described as Private in its neobank.wiki profile.