Flipkart-owned digital payments app PhonePe and Visa, the global leader in digital payments, announced a strategic partnership to allow Visa credit card owners to pay their credit card bills on PhonePe.
Using the PhonePe app customers can pay their credit card bills till the due date, thus eliminating any scope for levy of late payment fees. The company also claims that they can make instant payments within five seconds using multiple bank accounts at no additional charges.
â€śThrough this partnership, we aim at making the process of making credit card bill payments seamless and hassle-free for our users. This is the first time in India that a digital payments app has enabled the option of credit card bill payments and we believe this is the an important step in PhonePeâ€™s vision to become a one-stop destination for all digital payments needs of customers. We are very excited to begin this new chapter with Visa and are open to working with more such partners who share our vision,â€ť Hemant Gala, Head of Payments at PhonePe said.
Customers with Visa cards will also have access to shop at various offline and online stores that PhonePe has tied up with. In addition, customers will also be able to recharge, pay all their utility bills and shop on popular online and offline shopping destinations.
â€śWhile credit cards are synonymous with digital payments, cardholders often end up using offline means for repayment of their credit card bills. This is in part due to limited choices of card repayment methods available to them. The PhonePe solution offers credit cardholders the convenience and flexibility to pay their card bills directly through their mobile phones and other devices. This new service will help Visa cardholders manage their credit card bill payments more efficiently and on the go,â€ť Shailesh Paul â€“ Head Merchant Sales and Solutions, India and South Asia at Visa added.
PhonePe is currently live across over 60,000 online and offline merchants including ClearTrip, Abhibus, TicketNew, PVR and ZopNow and many national offline chains like McDonaldâ€™s, CafĂ© Coffee Day, Apollo Pharmacy, Barista, Spencerâ€™s, KFC, FoodWorld and Pai International.
Recently, the company announced a platform where businesses can create micro apps within the PhonePe app. It forged its first partnership with RedBus under this. It also partnered with FreeCharge and JioMoney to allow users to link their existing FreeCharge wallets to the PhonePe app and allow them to access all offline merchant outlets which accept PhonePe.