PhonePay, the revolutionizer of India’s digital transaction space, recently celebrated the milestone of completing 10 years of its fintech journey. This is not just a journey for one company, but is believed to be a journey of financial empowerment and ease of doing business for millions of citizens of the country. Over the past decade, PhonePay has completely changed the way we send, receive and manage money in India.

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In 2025, PhonePay crossed the historic milestone of 600 million registered users. This has strengthened PhonePe’s role in India’s digital economy. During this period, the company focused on increasing user trust and security. New facilities such as UPI circle have been introduced, which has made it possible to entrust payments to trusted contacts. Also, millions of users are getting protection from online frauds due to ‘PhonePay Protect’, a state-of-the-art security framework.

Phonepay has also taken big steps for the business class. Digital transactions are made easier for small and large businesses with ‘Made-in-India’ smart speakers and smart POD devices. The ‘Udyam Assist’ initiative launched in partnership with SIDBI has made it easier for MSME enterprises to access formal credit digitally. Through this, PhonePay has become the first organization in the country to provide digital-first integration for MSMEs.

Phonepay has also expanded its services to customers in a big way. Affordable home insurance and health insurance have been made available to India’s ‘missing middle’ element. Apart from this, the needy have started getting immediate financial help due to innovative loan facilities like loans on mutual funds, secured lending.

Talking about this journey, Sameer Nigam, Founder and CEO of PhonePe said, “Though we have made great strides in 10 years, our journey is yet to reach its peak. We have no idea how high this peak is and that is what motivates us more.” Founder and CTO Rahul Chari said, “Our real lesson is to create products that people believe in. It’s determination and belief that makes an idea effective.”

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Since its inception, PhonePay has changed the face of the Indian fintech sector through ‘industry-first’ initiatives. From digital gold, mutual funds, insurance, stock broking to UPI Lite, cross-border UPI, Indus Appstore, share.market platform, PhonePay has expanded its services. After relocating its headquarters to India in 2022, PhonePay has become an integral part of India’s financial fabric, reinforcing the company’s resolve to provide safe, convenient and inclusive financial services to every citizen.