Phonepe launches one-click payment with Visa
Flipkart-owned Phonepe has partnered with Visa to become the first digital payments platform in the country to launch a one-click card payment feature on its platform.
In line with RBI’s regulations, this launch will enable Visa debit and credit cardholders to make one-click payments for amounts up to Rs 2,000 ($27) without having to enter an OTP or CVV.
Commenting on the launch, Hemant Gala, vice president, payments & financial services at Phonepe, in a statement said: “With millions of Visa cards saved on the Phonepe platform, the launch of ‘Visa Safe Click’ will help our customers experience single click seamless payments on the Phonepe app and at our merchant partners. We expect Phonepe’s network of over 10 million merchants to benefit from higher success rates and faster turn-around times with this one-click payment experience.”
Commenting on the launch, Shailesh Paul, head of merchant sales at Visa added: “We’re excited to enable quicker and safer payments for Visa users on the Phonepe app, improving the customer experience and providing users more time to explore the app.”
Phonepe had reported losses of Rs 1,907 crore for the financial year 2018-19, while its revenue stood at Rs 246 crore. At present, Phonepe is present in more than 150 cities across India and claims to have over 150 million bank accounts linked on its platform.
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