by Prashant Kapadia/NHN
New Delhi, January 17, 2018: PhonePe, India’s fastest growing payments platform, today announced a strategic partnership with redBus, the world’s largest online bus ticket booking service. As a part of the partnership, Redbus has now gone live with an exclusive store on the PhonePe app. This partnership is part of PhonePe’s vision of being an open payments ecosystem, enabling businesses of all sizes to build and deploy apps on its platform with a unified login and payments experience for customers. This will enable businesses to reach out with their services to a highly relevant and rapidly growing customer base of over 65 million PhonePe users.
Commenting on the partnership, Rahul Chari, Co-founder & CTO, PhonePe said, “We are delighted to partner with redBus and offer our customers a frequently-used service, such as online bus booking, inside the PhonePe app. PhonePe is the first transaction platform of this scale to open up for businesses to build their experiences within the app. Consumers can continue to enjoy the digital and fulfillment experience of their favorite apps from within PhonePe while being assured of the reliability and integrity of their payments. This will allow businesses to focus on service offerings instead of worrying about distribution.” ”We want to take the ecosystem first approach and our ambitions are to build platforms which enable businesses and partners to leverage the PhonePe network to the fullest. Our core belief is that open ecosystems always succeed by creating a win-win equation for both customers and service providers alike. We will continue to invest in enriching the platform capabilities to make it more and more developer friendly.” added Vishal Gupta, Head of Product at PhonePe.
Manoj Agarwala, Vice President of redBus, said, “We are extremely excited to launch our services in the PhonePe app. This strategic and exclusive partnership would enable us to reach out to a wider user base beyond our existing platforms. PhonePe has taken a unique approach to solve digital payments, which will further support our endeavor of providing a hassle-free bus ticket booking experience across the country. We expect many customers to take maximum advantage of this win-win partnership.”
This partnership is in continuation with PhonePe’s strategy to build an ecosystem of innovation. Recently PhonePe had launched an innovative made-for-India Point Of Sale (POS) and is opening up the SDK so that multiple partners can contribute in building the ecosystem. It has already integrated third party wallets like FreeCharge and Jio Money on its platform to give users more choice and flexibility. Currently, PhonePe’s focus is on adding more partners to the app-in-app platform and to provide various options to businesses to participate in the ecosystem. The company has a healthy pipeline for the coming quarters, to further cater to PhonePe users’ transactional needs.
About PhonePe: Bengaluru-headquartered PhonePe is the fastest growing payments company in India. With over 65 million installs, the PhonePe App drives the highest number of merchant UPI transactions in India. Using PhonePe, users can send and receive money, recharge mobile, DTH, datacards, make utility payments, buy gold and shop online and offline. Customers can also use PhonePe as a payment option across 60 thousand offline and online merchant outlets covering food, travel, groceries, movie tickets etc. https://www.phonepe.com
About Redbus: redBus is the world’s largest online bus ticket booking service trusted by over 8 million happy customers globally. redBus offers bus ticket booking through its website, iOS and Android mobile apps for all major routes.
