PhonePe becomes the first digital payments app to enable credit card bill payments
- Partners with Visa to enable credit card bill payment facility through its app
- Zero charges and no late payment fees if customers pay their credit card bills on or before the due date
Bengaluru, January 25th, 2018: India’s fastest growing digital payments app and Visa, the global leader in digital payments, today announced a strategic partnership to provide a seamless payment experience to PhonePe users who own Visa credit cards.
As part of this one-of-its-kind partnership, customers now have the option to pay their Visa credit card bills on PhonePe. Using the PhonePe app customers can pay their credit card bills till the due date, thus eliminating any scope for levy of late payment fees. Furthermore, they can make instant payments within 5 seconds using multiple bank accounts at no additional charges.
Commenting on the partnership Hemant Gala, Head of Payments at PhonePe said, “Through this partnership, we aim at making the process of making credit card bill payments seamless and hassle-free for our users. This is the first time in India that a digital payments app has enabled the option of credit card bill payments and we believe this is the an important step in PhonePe’s vision to become a one-stop destination for all digital payments needs of customers. We are very excited to begin this new chapter with Visa and are open to working with more such partners who share our vision.”
Added Shailesh Paul – Head Merchant Sales and Solutions, India and South Asia at Visa, “While credit cards are synonymous with digital payments, cardholders often end up using offline means for repayment of their credit card bills. This is in part due to limited choices of card repayment methods available to them. The PhonePe solution offers credit cardholders the convenience and flexibility to pay their card bills directly through their mobile phones and other devices. This new service will help Visa cardholders manage their credit card bill payments more efficiently and on the go.”
Customers with Visa cards will also have access to shop at various offline and online stores that PhonePe has tied up with. In addition, customers will also be able to recharge, pay all their utility bills and shop on popular online and offline shopping destinations.
PhonePe is currently live across more than 60K online and offline merchants including ClearTrip, Abhibus, TicketNew, PVR and ZopNow and many national offline chains like McDonald’s, Café Coffee Day, Apollo Pharmacy, Barista, Spencer’s, KFC, FoodWorld and Pai International.
Bengaluru-headquartered PhonePe is the fastest growing payments company in India. With over 65 million installs, the PhonePe App drives the highest number of merchant UPI transactions in India. Using PhonePe, users can send and receive money, recharge mobile, DTH, datacards, make utility payments, buy gold and shop online and offline. Customers can also use PhonePe as a payment option across 60 thousand offline and online merchant outlets covering food, travel, groceries, movie tickets etc.
For more details, please visit https://www.phonepe.com or download the PhonePe app.
Visa is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments.
We operate one of the world’s most advanced processing networks – VisaNet – that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information visit www.visa.co.in.
For more details: [email protected]