PhonePe now has the IRCTC as a micro-app within its own app. In August, PhonePe had partnered with the IRCTC to make PhonePe available as a payment option on the IRCTC Rail Connect Android App. PhonePe users can now book railway tickets directly from the app, and pay via UPI, credit & debit cards or wallet.
Interestingly, the IRCTC was reportedly set to launch its own payment gateway, as MediaNama had reported in April. This was a way for the IRCTC to seek additional revenue and reduce dependency on third-party payment platforms.
Recent developments at PhonePe
PhonePe now claims to have crossed 1 billion digital payment transactions on its mobile app since launch, and claims to have over 100 million users.
- In August, Flipkart Payments invested Rs 452 crore from in PhonePe, following up a Rs 518 crore investment in March.
- In July, it acquired Zopper retail, a hyperlocal point-of-sale platform for small and medium businesses.