"We have never been in a hurry to get to an IPO. I think this company is in a sector, we are already regulated heavily, and we are getting deeper into financial services. So I think it's a foregone conclusion that the right answer for PhonePe some day is…

The licence will allow PhonePe to distribute products from all insurance companies and offer personalised product recommendations to users.

The company saw a jump in revenue owing to a significant rise in transactions on the platform as it became the largest player in UPI payments in FY21. PhonePe's gross margins grew from 60 percent in FY20 to 84 percent in FY21.

PhonePe said that these charges are being levied on an experimental basis in the range of Re 1 to Rs 2. Other transactions through UPI and money transfers on the platform are free, a company spokesperson said.

While WhatsApp’s share in monthly UPI transactions is minuscule, compared to PhonePe and Google Pay, transactions on the app in October grew more than two times from September

BharatPe had filed six cancellation actions against PhonePe’s registered trademarks on the Devanagari script of ‘Pe’ on October 26. PhonePe has already filed two suits against BharatPe for using the ‘Pe’ suffix in its brand names.

The company which is the market leader in UPI transactions said that the growth comes from rapid traction across Tier II and III cities

PhonePe said that emloyees could sell up to 25 percent of their vested shares in the buyback offer. 75 percent of the company's current workforce is eligible to participate in the offer.

PhonePe says the product only has a three-step purchase process, eliminating the otherwise cumbersome processes that new and young buyers are deterred by.

To match the competition, Indian banks need to adopt a customer-centric instead of a sales-centric approach, said Uday Kotak, who is the founder and chief executive of Kotak Mahindra Bank.

PhonePe also said it has achieved its target of digitising 25 million small merchants and kirana stores in the country, weeks ahead of its December-end deadline.

The leader in transactions on UPI said it has 2,800 open job positions across Bangalore, Pune, Mumbai, and Delhi

The court tussle began when PhonePe was close to acquiring IndusOS in May 2021. The acquisition was set to take place at a valuation of $60 million.

In today's Tech3 newsletter, Unacademy’s Relevel comes under fire; WhatsApp Pay head Manesh Mahatme quits