IES 2024: Wanted To Build Something For Every Indian At PhonePe - Sameer Nigam | The PhonePe Story

India Economic Summit : At fourth distinguished edition of Republic Media Network's India Economic Summit , PhonePe Chief Executive Officer Sameer Nigam spoke at length about journey of company and shared its success story at Republic Media Hequarters. He emphasised repeatedly on fact that he wanted to build something for every Indian. He highlighted that idea was that he wanted everyone to get access to digital payments.

Digital Payments Acces For Everyone

"We wanted to build something for every Indian, something that every Indian will use," Nigam said at Summit ding, " idea here is that we want to make sure that no one is left behind. We want to make sure that everyone gets access to digital payment services. length and breth of country today is using digital payments."

He furr emphasised that "Everyone's progress should start getting liberalised. Everyone should have equal access to money and n services."

Trends In Digital Payments Market

Sameer Nigam also noted that recently digital payments, lending, merchant payments and insurance policies being sold via UPI,  are verticals that have been growing, specifically for PhonePe. He ded that if or Digital Payments Platforms' statics were to be taken into consideration that number would be higher.

He also noted that PhonePe has installed a magnanimous 1.2 crore plus QR codes as of today.

 

Is Regulation and Compliance Profitable?

Not only is being compliant to market norms profitable but it is also sustainable in long run, said PhonePe Chief. He ded that "you can be well regulated, compliant and profitable."

"People think that if all your customers are coming from 'Bharat' and not from urban India you can't make money. We are proving orwise," Nigam ded.

PhonePe is an enterprise that was built out of India and for India. "Here we are sitting with a 'Devnagri' logo, building out of India, for India," while building customers and making profits, he said.