Latest news with #GSPay
Time of India
2 days ago
- Business
- Time of India
PhonePe expands UPI payments to feature phone users
Digital payments platform PhonePe has announced its acquisition of the GSPay technology stack from conversational engagement platform Gupshup, aiming to bring UPI-based payments to feature phone users across India. The move aligns with PhonePe's financial inclusion strategy , targeting millions of consumers who remain outside the digital payments ecosystem. GSPay, built on NPCI's UPI 123PAY framework, enables seamless UPI transactions on feature phones. PhonePe plans to customize and extend the technology, launching a dedicated UPI payment app for new feature phones in the coming months. Key Features and interoperability The upcoming PhonePe app will support: Peer-to-peer (P2P) transfers Offline QR code payments Receiving funds via mobile number or self-QR codes These features will allow feature phone users to transact effortlessly with smartphone users, ensuring full interoperability in the digital payments ecosystem. PhonePe CEO Sameer Nigam highlighted the significance of the expansion: "This segment has been historically underserved. By enabling UPI payments on feature phones, we hope to empower crores of users and bring them into India's digital economy." AI Masterclass for Students. Upskill Young Ones Today!– Join Now
&w=3840&q=100)
Business Standard
2 days ago
- Business
- Business Standard
PhonePe acquires GSPay IP to launch UPI payments for new feature phones
The company in a statement said it plans to customise the stack and launch its own UPI payment app for new feature phones in India in the next few quarters Press Trust of India New Delhi PhonePe on Friday said it has acquired the IP of GSPay -- a proprietary technology stack from conversational engagement platform Gupshup -- to enable UPI-based payments on new feature phones. The company in a statement said it plans to customise the stack and launch its own UPI payment app for new feature phones in India in the next few quarters. The new app will offer essential UPI features such as peer-to-peer transfers, offline QR payments, and receiving money via mobile numbers or self-QR codes. Industry research indicates that there were over 24 crore feature phone users in India in 2024, and in the next five years, another 15 crore feature phone shipments are anticipated. PhonePe CEO Sameer Nigam said the acquisition will help bring millions of feature phone users into the digital payments ecosystem, a segment largely underserved so far.
Time of India
3 days ago
- Business
- Time of India
IPO-bound PhonePe announces UPI payments on feature phones
Live Events Fintech firm PhonePe announced rollout of UPI-based payments for feature phones with the purchase of GSPay technology stack from conversational engagement platform is a mobile application built on top of UPI 123PAY , the UPI payment solution for feature phones by National Payments Corporation of India (NPCI). PhonePe said it will customise and extend the recently acquired GSPay IP and launch its own feature-phone based UPI payment mobile app on new feature phones in India, over the next few will offer basic UPI features, such as P2P transfers, offline QR payments, and receiving money from other UPI customers to users' mobile numbers or self-QRs, to create full payment interoperability between feature phones and smartphones.'This (feature phones) segment of users has been historically underserved by the digital financial industry and the broader startup ecosystem. We hope we can enable crores of these feature phone customers to participate in India's burgeoning digital payments market," said Sameer Nigam, cofounder and chief executive of to industry data, India had approximately 24 crore feature phone users in 2024, and 15 crore more feature phone shipments are expected over the next five company has recently added Zarin Daruwala to it board of directors, where she joins CEO Nigam, Walmart chief financial officer John David Rainey, former revenue secretary Tarun Bajaj and retired as the CEO of Standard Chartered Bank-India on March 31 after a nine-year-long stint. Before that, she managed the wholesale banking business of ICICI Bank as president of the vertical. In this capacity, she also served on the boards of key ICICI group companies, ICICI Lombard General Insurance, and ICICI Securities. In the past, she has been on the board of JSW has started the process to list on the Indian exchanges by converting into a public company from a private entity in April 2025.
