PhonePe has launched the country’s first geospatial website ‘Pulse’ that will offer comprehensive data on digital payment trends. The site will reveal digital transaction habits of over 30 million Indians down to the district level. It also launched the Pulse Report, that’s an in-depth study of the evolution of digital payments over the last five years.
The PhonePe Pulse website shows more than 2000 crore digital payments in the country on an interactive map. The payments platform has a 45 per cent market share.
The insights of the website have been drawn from PhonePe’s transaction data as well as from merchant and customer interviews.
The data offered by PhonePe will be relevant for multiple stakeholders including government, policy makers, regulatory bodies, media, industry analysts, merchant partners, startups, academic institutions and students. The data as well as the trends could be used by multiple entities to understand consumer and merchant behaviour and identify new opportunities for growth.
Phone Pulse, the company said, is the culmination of months of research and collaboration between business analysts, marketers, designers, writers, engineering, business and corporate communication teams.
“When we started PhonePe five years back, we struggled to get reliable granular data on digital payments trends across the country. We had promised ourselves that if we are successful and gather enough data on our platform, we would open it for anyone who wants to get deeper insights on the Indian payments industry,” said founder and CEO Sameer Nigam.
PHONEPE PULSE FINDINGS
The interactive website has revealed the following trends of digital payments in India:
The fintech platform has over 300 million registered users. It offers financial services, mutual funds and insurance products such as tax-saving funds, liquid funds, international travel insurance and Corona Care, a dedicated insurance product for the COVID-19 pandemic.
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