Phonepe bets big on IPL to strengthen its user base

By

Maverick Martins

Published
Mar 19, 2021

Flipkart-owned homegrown digital payments platform Phonepe is betting big on the upcoming season of the Indian Premier League (IPL) to further consolidate its leadership position in the country.
 

The company has taken up six different sponsorships. It is the official co-presenting sponsor for the television broadcast of IPL 2021, associate sponsor for the digital broadcast, and additionally also sponsor four IPL franchises this season – Mumbai Indians, Chennai Super Kings, Royal Challengers Bangalore, and Delhi Capitals.

With this association, Phonepe expects its user base to increase and expects 500 million users by December 2022 from the current 280 million.

Commenting on its investments in IPL, Sameer Nigam founder and CEO of Phonepe, in a statement said: “We are kicking off our most aggressive national marketing campaign ever, starting with IPL 2021 next month. We have invested even more heavily on IPL this year, taking up 6 different sponsorships.
 
“As the category leader, it is our vision as well as our ambition to bring digital payments to every Indian household. Our aggressive marketing efforts are in line with this strategic priority,” he added.
 
Phonepe will also launch its marketing campaign during the IPL across multiple platforms including TV, digital and social media platforms to further boost its visibility.