Press Release

Press Release

PhonePe appoints Ritesh Pai as ‘CEO – International Payments’

Ritesh will lead the company’s global expansion plans 

National, January 5th, 2024: PhonePe, announced the appointment of Ritesh Pai as CEO of its International Payments business. Ritesh is a seasoned Digital Payments sector leader with a proven track record of launching innovative solutions and structuring strategic business partnerships globally. In his last role, as the President – Products and Solutions at TerraPay, he was responsible for launching and implementing payment products and solutions globally. Prior to that he served as the Senior Group President & Chief Digital Officer at Yes Bank, where he led the digital strategy and transformation for the bank and launched multiple successful partnerships with many of today’s leading Fintech players.

Speaking on the appointment Sameer Nigam, CEO and Founder of PhonePe said, ‘’We are delighted to welcome Ritesh onboard as CEO – International Payments’ at PhonePe. Ritesh has been an early believer and staunch supporter of the company and was very instrumental in our early UPI success story. I’m delighted that he’s joined us to lead our international growth plans. I would like to wish him the very best in his new role.’’

Ritesh Pai, CEO – International Payments’ at PhonePe added, “I am excited to join PhonePe as it takes significant strides in shaping the future of digital payments on a global scale. PhonePe has achieved market leadership in India with its unwavering commitment to product innovation and building customer-centric solutions. I am confident that this same focus will help us expand our footprint beyond national borders, taking our payment technology to an international audience.”  

About PhonePe Group: 

PhonePe is India’s leading digital payments company with 50 crore (500 Million) registered users and 3.7 crore (37 Million) merchants covering over 99% of the postal codes across India. On the back of its leadership in digital payments, PhonePe has expanded into financial services (Insurance, Digital Gold, Mutual Funds, Stock Broking, and Lending) as well as adjacent tech-enabled businesses such as Pincode for hyperlocal shopping and Indus App Store which is India’s first localized App Store. The PhonePe Group is a portfolio of businesses aligned with the company’s vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.

For more details: [email protected]