PhonePe, a fintech platform, today announced the launch of PhonePe Pulse, India’s first interactive website with data, insights and trends on digital payments in the country. The PhonePe Pulse website showcases more than 2000+ Crore transactions by consumers on an interactive map of India. With over 45% market share, PhonePe’s data is representative of the country’s digital payment habits.
PhonePe also launched the Pulse Report, an in-depth study on the evolution of digital payments over the past 5 years. The report also has rich insights about how digital payment adoption across India has evolved since 2016, and includes detailed geographical and category specific trends.
The insights on the website and in the report have been drawn from two key sources - the entirety of PhonePe’s transaction data combined with merchant and customer interviews. The report is available as a free download on the PhonePe Pulse website.
This innovative new product is relevant to multiple ecosystem stakeholders including the government, policy makers, regulatory bodies, media, industry analysts, merchant partners, startups, academic institutions and students. The rich data set along with insightful trends and stories can be used by these partners to understand consumer and merchant behavior and identify new opportunities for growth.
PhonePe Pulse is a first-of-its-kind product in India and is the culmination of months of research and collaboration by a cross-functional team which included Corporate Communications professionals, Business Analysts, Marketers, Designers, Writers, Engineering and Business teams from across the company.
Speaking at the launch, Sameer Nigam, Founder and CEO of PhonePe said, “I am delighted to be launching the PhonePe Pulse website and report today. Pulse is our way of giving back to the digital payments ecosystem. When we started PhonePe five years back, we struggled to get reliable granular data on digital payments trends across the country. We had promised ourselves that if we are successful and gather enough data on our platform, we would open it for anyone who wants to get deeper insights on the Indian payments industry. We built PhonePe Pulse because we can, and crucially because we should help unlock opportunities for others to build in India.”
Rahul Chari, Co-founder and CTO of PhonePe added, “We strongly believe that a core contributor to our success has been our philosophy of building open platforms that allow all participants in the ecosystem to grow. We are an extremely data driven company with our data platforms and knowledge stores being at the core of a lot of systemic decisioning. PhonePe Pulse is an extension of our open platform approach to the information we have garnered at scale with the view of democratizing 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.”