PhonePe Payment Gateway

PhonePe is a Bengaluru company incorporated in December 2015 by Sameer Nigam, Rahul Chari and Burzin Engineer. Flipkart bought it in April 2016, a few months before its UPI app went live with Yes Bank, and it became a separate company with Walmart as majority owner in December 2022. It converted to a public company, PhonePe Limited, in April 2025 ahead of a planned share listing. As of August 2025 it reported more than 650 million registered users and 45 million merchants in its acceptance network.

For consumers PhonePe is above all a UPI app. People link a bank account and then pay by scanning a QR code, approving a collect request or switching over from a merchant's app. It also runs a prepaid wallet under an RBI licence, and since 2022 users have been able to pay some merchants abroad over UPI. At an online checkout it usually shows up as one of the UPI apps a shopper can pick.

The PhonePe Payment Gateway is the merchant side. Its Standard Checkout takes UPI from any UPI app, Visa, Mastercard, Maestro, RuPay and American Express cards, net banking with more than 50 banks, the PhonePe wallet, EMI and international cards, and it handles recurring mandates. Plug-ins cover Shopify, WooCommerce, Magento and OpenCart, with server SDKs in five languages and mobile SDKs for Android, iOS, Flutter, React Native and Ionic. PhonePe lists 1.99% per transaction with no setup or annual fee, currently shown beside a limited-period free offer whose terms are not on the page.

The RBI granted final authorisation as an online payment aggregator in September 2025, which lets PhonePe sign merchants directly. The gateway is aimed at Indian businesses, small and mid-sized ones in particular, settles in rupees and names no other merchant countries. PhonePe says onboarding and KYC usually take two to five business days.