ENA Sectors 2023-06-14 16:48:59 <p><span style="font-size:14px"><strong>New Delhi, June 14 (KNN) </strong>PhonePe, an Indian digital payments and financial services company on Wednesday launched its payment gateway business to provide the best-in-class payment experience to consumers and merchants alike.</span></p> <p><span style="font-size:14px">The fintech unicorn is already a market leader in UPI with over 50 per cent market share by value.</span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">The launch of its Payment Gateway is driven by the companys ability to handle large-scale transactions and the strong consumer trust in the platform, said PhonePe.</span></p> <p><span style="font-size:14px">The space is presently dominated by Razorpay, Cashfree, CCAvenue, Pine Labs, and PayU. One97 Communications Limited, the parent company of Paytm, also launched its own payment gateway in 2012.</span></p> <p><span style="font-size:14px">A payment gateway is a technology provided by third-party platforms that ensures the secure transfer of money from the customer's bank account to the merchant's payment portal.</span></p> <p><span style="font-size:14px">The PhonePe Payment Gateway is reliable and ensures 100 percent uptime for merchants and comes with industry-best success rates. It proactively detects downtimes and ensures stable success rates of transactions with real-time instrument health-tracking capability, it said. <em><strong>(KNN Bureau)</strong></em></span></p> 33712 https://knnindia.co.in/news/newsdetails/sectors/phonepe-enters-payment-gateway-market 2023-06-14 16:48:59 knnindia.co.in