PhonePe Recognized as India’s Most Trusted Brand for Digital Payments by Trust Research Advisory (TRA)
We are excited to share that PhonePe has been selected as India’s Most Trusted Digital Payments Brand, in the eleventh edition of the Brand Trust Report 2022 by TRA research.
Every year, TRA Research (formerly Trust Research Advisory), through the Brand Trust Report, analyses and measures trust that consumers put forth in Indian brands. To be featured in the Brand Trust Report within just 6 years of inception, is a big achievement for us.
PhonePe is a leader in the digital payments space, and has become ubiquitous with payments in India. Our rapid growth has been built on the back of deep consumer trust, and today we have over 390 million registered users, or one in four Indians on the PhonePe app. Right from building India’s most comprehensive Financial Services platform to creating constant awareness across our user base on safe digital payments, to making sure we are giving them the safest and fastest payments experience, we have always believed that forming consumer trust is a constant and continuous process. In our commitment to accelerate the acceptance of digital payments and to achieve the goal of cashless India, we have penetrated over 99% pin codes in the country while helping digitize over 30 million merchants.
We have several user stories to show how consumers have reposed their trust in our brand over the years, while becoming strong brand advocates. Here’s a snapshot of a few; Anjali is a student who uses PhonePe to pay for her lunch at the college cafeteria, Priya recently bought a car for which she took insurance on PhonePe. Sharma ji pays his house rent and electricity bill via PhonePe every month. Aruna recently donated meals to the less fortunate using PhonePe. With his first salary, Shekhar just opened his Gold and Mutual Funds accounts and invested for his future on PhonePe.
It’s stories like this which keep us going as we build offerings for the next 500 million users, and create a circle of trust across our users and merchant partners.