This partnership will help PhonePe to enhance its merchant base by leveraging the PayU network.
It will now have access to more than 4,00,000 merchants with the help of PayU payment services. The Flipkart backed payments arm is also planning to offer discounts to its existing 100 million user base on transactions at PayU merchants. Thereby, giving PayU access to more customers.
“We are extremely delighted to partner with PayU which has been a trusted payment gateway for online merchants across India. This partnership is another example of the value PhonePe places on growing the digital payment ecosystem,” said Karthik Raghupathy, Head of Strategy and Planning at PhonePe.
“This partnership will also help us in significantly expanding our online merchant network. PayU and PhonePe also share a common vision of making UPI transactions ubiquitous in India, and this tie-up is a big step forward in that direction,” he added.
PhonePe is currently working with over 100 online merchants such as Swiggy, Foodpanda, MakeMyTrip, Netmeds, PharmEasy, and some of the others as well.