PhonePe inks deal, rolls out various offers; this is how you benefit

Following in the footprints of e-commerce major Flipkart, Bengaluru based payments Technology Company CashFree has launched PhonePe as a checkout option on its payment gateway. 5000 merchants will be able to accept PhonePe as a payment method. As a launch offer, PhonePe would be running a 10 per cent cashback for all users, claimed CashFree press release but the PhonePe spokesperson said the planning is till going on and a concrete decision would be taken soon. CashFree is the first payment gateway to enable PhonePe, Google Pay, Amazon Pay and Pay Later options like Ola Postpaid for merchants.

Commenting upon the development Akash Sinha, Co-Founder and CEO of CashFree told Zee Business online in a written statement, “Flipkart is aggressively promoting PhonePe, so it’s a good time for our merchants to capitalize on this. We are really excited about being the first payment gateway to bring PhonePe as a payment option to 5000 e-commerce merchants. At CashFree, we strive to bring the best offerings around fintech and payments to our merchants as soon as possible.”

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Ankit Gaur, Director, Online Business, PhonePe, in a written statement, said, "We are excited to bring PhonePe to a large versatile set of merchants through CashFree. PhonePe is the most convenient way to pay online and we want to push the Indian online industry forward by bringing it to merchants outside of PhonePe. CashFree is a very valuable partner in this."

CashFree currently does more than 4 Million transactions every month. Transaction volume growth has crossed 50 per cent month on month mark on the back of new product launches.