PhonePe becomes the first digital payments platform to launch one-click payment with Visa
Customers with Visa cards can make quick payments in a single click
Bengaluru, March 19, 2020: PhonePe today announced that it has become the first digital payments platform to launch Visa Safe Click, a secure and hassle-free, one-click card payment feature on its platform in partnership with Visa, the global leader in payments technology. In line with RBI’s regulations that allow card networks to authenticate transactions up to Rs. 2000, this launch will enable Visa debit and credit cardholders to make quick, frictionless payments on the PhonePe platform. Visa Safe Click will help enrolled users make secure payments for amounts up to INR 2,000 without having to enter an OTP or CVV.
Users with Visa debit or credit cards will have the option on the PhonePe app to activate the new payment feature through a one-time validation process to register their card. Users can then carry out transactions on recharges, bill payments, switch platform and many more use cases on the PhonePe app without having to enter an OTP or CVV for every subsequent transaction.
Speaking on the launch, Hemant Gala, Head of Payments, Banking & Financial Services, PhonePe said, “PhonePe is one of the largest payment platforms in India with millions of Visa cards saved on its platform. With the launch of this feature, millions of our customers will have an option to experience seamless payments on the PhonePe app and at our merchant partners. We are very excited to partner with Visa to launch ‘Visa Safe Click’ on the PhonePe app. It’s been our constant endeavour to launch seamless payment solutions to simplify users’ payment journeys. OTP authentication for low-value and high-frequency mobile transactions result in drop-offs, and we expect PhonePe’s network of over 9 million merchants to benefit from higher success rates and faster turn-around times with this one-click payment experience.”
Commenting on the launch, Shailesh Paul, Head of Merchant Sales & Acquiring, India and South Asia, India and South Asia, Visa said, “Indian customers are increasingly turning to purchase goods and services online, driving e-commerce to reach $225 billion (estimated) by 2022 and platforms such as PhonePe help drive this convenience. World over, this kind of growth is enabled when e-commerce is made secure and friction-free and Visa Safe Click aims to make the e-commerce payment experience faster, frictionless and secure. We’re excited to enable quicker and safer payments for Visa users on the PhonePe app, improving the customer experience and providing users more time to explore the app.”
Bengaluru-headquartered PhonePe is the fastest growing digital payment platform in India with over 200 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, make utility payments and buy gold. PhonePe is accepted at over 10 million merchant outlets across 400 cities nationally. PhonePe also launched its own Switch platform in 2018, and today its customers can place orders on over 100 apps including Ola, Myntra, IRCTC, Goibibo, redBus, Oyo, and Treebo, etc. directly from within the PhonePe mobile app. For more details, please visit https://www.phonepe.com or download the PhonePe app.
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