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India-based PhonePe, a leading Fintech platform that now claims 300 millions users, reveals that it has introduced PhonePe Pulse, which is an interactive website with data, insights and key trends on virtual payments.
The PhonePe Pulse website reportedly features millions of transactions made by clients on an interactive map of India. With more than 45% market share, PhonePe’s data aims to accurately reflect the increasing usage of digital payment options, especially after the COVID outbreak
PhonePe also introduced the Pulse Report, an extensive study covering the rise of virtual payments during the last five years. The report shares important insights about how digital or online payments adoption across the country has matured since 2016, and includes geographical and category-specific trends.
The insights on the new site and in the report have been obtained from PhonePe’s transaction data and also the feedback from merchant and customer interviews. The report is currently available on the PhonePe Pulse website.
As mentioned in the announcement, this product is relevant to key stakeholders such as the Indian government, policymakers, regulatory agencies, media, industry experts, local merchant partners, startups, academic institutions and students.
The data set and the trends and stories may be used by these partners to gain a better understanding of consumer and merchant behavior while identifying strategic growth opportunities.
PhonePe Pulse is reportedly the end-result or culmination of considerable research and collaboration by a professional team which includes Corporate Communications professionals, Business Analysts, Marketers, Designers, Writers, Engineering and Business teams from across the Fintech firm.
Sameer Nigam, Founder and CEO of PhonePe, stated:
“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, remarked:
“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.”
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