PhonePe, one of the major contactless digital applications/platforms available to users in India for making online payments, has partnered with Extreme IX. For the unaware, the Extreme IX is India’s largest internet exchange point. With this partnership, PhonePe is looking to enable faster digital payments for its 400+ million users. It is worth noting that PhonePe has become India’s first digital payments company to participate in an Internet Exchange in India. This partnership would help in decreasing the latency for PhonePe users irrespective of their internet service provider (ISP) or location in India.
PhonePe Users Will Be Able to Transact Better and Faster
PhonePe would be able to get a further edge over its rivals such as Google Pay, WhatsApp Payments, and more in India. The number of online UPI (unified payments interface) transactions has increased dramatically over the last three years. One of the biggest drivers for the growth of UPI was the coronavirus pandemic. Because of the pandemic, most users started relying on cashless modes of payments. PhonePe is used by millions of Indians every day to make online payments, and thus with this partnership, the speed and the overall experience for the users should improve further. PhonePe is available for Indian users in both the Google Play Store and Apple App Store. The application has been the leading platform of choice for consumers in India, according to the tradebrains report. Its rival, Google Pay, is also coming out with strategies to attract more users into coming to its platform and making payments, but PhonePe has been growing at a steady rate.
