PhonePe launches the "Pulse" of digital payments
PhonePe, India's premier financial platform, today announced the introduction of PhonePe Pulse, the country's first interactive website dedicated to digital payments statistics, insights, and trends. The PhonePe Pulse website displays over 2000 crore consumer transactions on an interactive map of India. With a market share of more than 45 percent, PhonePe's statistics is indicative of the country's digital payment habits.
Additionally, PhonePe launched the Pulse Report, a comprehensive analysis of the evolution of digital payments over the last five years. Additionally, the report provides deep insights into how digital payment use has progressed across India since 2016, including detailed geographical and category-specific trends.
The website and study take their insights from two primary sources: the full of PhonePe's transaction data and merchant and consumer interviews. The report can be downloaded for free from the PhonePe Pulse website.
Multiple ecosystem stakeholders, including the government, policymakers, regulatory agencies, media, industry analysts, merchant partners, startups, academic institutions, and students, will benefit from this creative new offering. These partners may leverage the extensive data set, as well as interesting trends and stories, to better understand consumer and merchant behaviour and create new business opportunities.
PhonePe Pulse is a first-of-its-kind product in India, the result of months of research and collaboration between a cross-functional team comprised of Corporate Communications professionals, Business Analysts, Marketers, Designers, Writers, and Engineering and Business teams from throughout the firm.
Sameer Nigam, Founder and CEO of PhonePe, stated during the launch, "I'm overjoyed to announce today's launch of the PhonePe Pulse website and report. Pulse is our method of contributing to the ecosystem of digital payments. When we launched PhonePe five years ago, we faced significant challenges obtaining trustworthy granular data on digital payment trends across the country. We had promised ourselves that if we were successful and accumulated sufficient data on our platform, we would make it available to anyone interested in gaining a deeper understanding of the Indian payments business. We launched PhonePe Pulse because we could and, more importantly, because we believe we should assist others build in India."
Rahul Chari, PhonePe's co-founder and chief technology officer, adding, "We are convinced that a critical factor in our success has been our concept of developing open platforms that enable growth for all ecosystem partners. We are a highly data-driven organisation, with our data platforms and knowledge vaults at the heart of much systemic decision-making. PhonePe Pulse is an extension of our open platform approach to the data we've amassed at scale, with the goal of democratising access to this data for the benefit of other ecosystem members. Today's end product is merely the beginning, and we hope that others will take a similar approach to data sharing and transparency."