PhonePe processes over 1.1 crore insurance premiums
Dec 17, 2020
New Delhi [India], Dec 17 : Digital payments platform PhonePe said on Thursday it processed over 1.1 crore insurance policy premium payments in the last one year.
The company provides customers with a simple and secure option to pay insurance premiums for over 30 insurers.
The need for this feature has been strongly validated with PhonePe witnessing strong and active participation from tier-2 and tier-3 cities with 80 per cent of the premiums being paid by customers residing in these markets, it said.
"The digital payments landscape is rapidly changing the way people are transacting and investing. Insurance as a sector is benefiting immensely from these macro trends," said Ankit Gaur, Director of Business at PhonePe.
"Digital payments will only continue to grow in popularity and we are on course to achieve our goal of building a truly open payments platform for a billion Indians."
PhonePe is a leading digital payments platform with over 25.8 crore registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold and make investments.
