SAMEER NIGAM

PHONEPE FOUNDER AND CEO

 WE ALL KNOW THAT PHONEPE IS A DIGITAL
WALLET PLATFORM AND ONLINE PAYMENT
COMPANY HEADQUARTERED IN BANGALORE,
INDIA.[6] PHONEPE WAS FOUNDED IN DECEMBER
2015,[3] BY SAMEER NIGAM, RAHUL CHARI AND
BURZIN ENGINEER.[7] THE PHONEPE APP, BASED
ON THE UNIFIED PAYMENTS INTERFACE (UPI),
WENT LIVE IN AUGUST 2016
 SAMEER NIGAM

• Sameer Nigam is one of the best new-age entrepreneurs, probably one of the finest, we have in our country currently. I
have seen him at work from his Flipkart days, and now at PhonePe. He is always upping his own game and chasing
impact in the true sense of the word
• Thus, it comes as no surprise that the co-founder and chief executive of digital payments firm PhonePe has continually
set his sights on bold and ambitious targets – the kind that has bolstered the fintech company’s position to the top of
India’s cashless revolution.
• YourStory Founder & CEO Shradha Sharma (right) in conversation with Sameer Nigam (left)
• In an open and honest conversation with Sameer, I found that he is more confident than ever today about PhonePe’s
ability to seize the many opportunities not only in various continents, but diving deeper into the Indian market.
• He tells me, “We always thought of using technology and data to transform economies, and there was nothing bigger
than financial services: easy loans, insurance, and digital payments. The data footprint that you actually get with
payments can be used both to improve the merchants’ lives and consumers’ lives as well as really push financial
services.”
• I am confident that it is only a matter of time before PhonePe achieves its three main targets: First, foray into foreign
shores, buoyed by Walmart’s scale and presence in different markets; second, make ‘substantial progress’ in improving
the business prospects of India’s ubiquitous kirana stores; and third, expand its presence in the financial services space.
 AWARDS AND RECOGNITION

• 2018: recognized by National Payments Corporation of India (NPCI) for driving the largest number of merchant
transactions on the UPI network.[48]
• 2018: Best Mobile Payment Product or Service Category at the IAMAI India Digital Awards 2018.[49]
• 2018: Won the UPI Digital Innovation Award from NPCI in 2018.[50]
• 2018: Won the SuperStarUp Asia Award in 2018.[51]
• 2018: Awarded at the India Advertising Awards 2018 in the Telecom and Technology category.[52]
• 2019: Won the ‘Best Mobile Payment Product or Service’ at the 9 th India Digital Awards 2019 organised by IAMAI.[53]
• 2019: ‘Best Digital Wallet’ Initiative at the Indian Retail and eRetail Awards 2019.[54]
• 2019: Awarded the ‘Best Digital Wallet’ initiative at the 8 th Annual Indian Retail & eRetail Awards 2019 organised by
Zee Business and The Economic Times.
 LEGAL CHALLENGES

• On 14 January 2017, ICICI bank blocked PhonePe transactions, citing the reasons
that it did not meet the NPCI guidelines.Initially, on 19 January 2017, NPCI instructed
ICICI to allow UPI transactions via PhonePe.During this period, Airtel too blocked
PhonePe transactions on its platforms.A day later, on 20 January 2017, NPCI
renounced the previous instructions citing the reason that PhonePe indeed violated the
UPI norms.
• After this, PhonePe closed its operations on Flipkart’s website, to align itself with the
terms stated in the updated verdict from NPCI. By February, 2017, PhonePe resolved
the issues with ICICI
• FxMart received its licence to operate on 26 August 2014. PhonePe was incorporated in
December 2015.In April 2016, the company was acquired by Flipkart. and as a part of the
Flipkart acquisition, the FxMart license was transferred to PhonePe and it was rebranded as the
PhonePe wallet. PhonePe’s founder Sameer Nigam was appointed as the CEO of the company.
• In August 2016, the company partnered with Yes Bank to launch a UPI-based mobile payment
app, based on the government-backed UPI platform.
• Within 3 months of launch, the app was downloaded by over 10 million users. In 2018, PhonePe
also became the fastest Indian payment app to get a 50 million badge on the Google play
store.The PhonePe app overtook BHIM to emerge as the market leader in UPI transactions in
August 2017.
 CO-FOUNDER OF PHONEPE

Burzin Engineer RAHUL CHARI

 THANK YOU
Presentation by
Karthik gowda D And Mithun M