India’s one of the leading digital payment platforms PhonePe is specifically designed for feature phone users. This move aims to help users who do not have a smartphone or have access to the internet helping to bridge the gap between the digital divide.
Key details:
- Tech acquisition
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- PhonePe has acquired GSpay technology from Gupshup – a conversational messaging platform.
- This technology is based on UPI 123Pay developed by National payments corporation of India. This technology allows users to make digital payments using featured phones without requiring internet access.
- Application features
This new application will allow users to:
- Send and receive money through UPI without an internet connection
- Making P2P transfers
- Scan and pay using QR code
- Simple and User friendly interface- helpful for people who do not know how to use smartphones
- Target Audience
The application was made keeping in mind serving 240 million feature phone users in India. Over the coming years, additional 150 million feature phone users are expected to be added. The company aims to serve large and underserved population. - Strategic Goal:
By adopting GSpay’s offline UPI solution, the company aims to help people do payments effectively even without internet connectivity.
The main aim of the brand with this move is to promote financial inclusion.
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PhonePe this strategic tactic marks a significant way towards making digital transactions more accessible and feasible for rural and low income users who rely on feature phones
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