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After its planned acquisition of ZestMoney fell through, PhonePe is focussing on merchant lending. After a pilot with some 20,000 disbursed loans, it is now going live for its entire merchant base.
In April, PhonePe kicked off its digital lending pilots for merchants and the company said that it will launch it officially soon, a move that will be a shot in the arm for the fintech decacorn, putting it in direct competition in the lending space with its largest rival Paytm
In a move reminiscent of its successful early bet on the government-backed UPI network seven years ago, PhonePe, India's leading mobile payments app, is now set
Internet and Mobile Association of India (IAMAI) had submitted its views to the CDCL opposing the prescription of ex-ante regulations for digital companies, saying that ex-ante measures “may limit growth not only of the market in question but the digital economy altogether”.
While most payment gateways charge a standard transaction fee of 2%, the PhonePe Payment Gateway is giving a special free onboarding offer