Why Does PhonePe Not Work When Other Apps Do? | Founder Sameer Nigam Explains -Watch Video

India Economic Summit: PhonePe CEO Sameer Nigam on Tuesday graced fourth distinguished edition of India Economic Summit at Republic Media Network's hequarters and shared firm's success story ding that platform purposely chose to not facilitate certain transactions.

While sharing statistical data on PhonePe's market penetration, Nigam said "re is not a nook and corner in country that does not accept digital payments".

But later he said, "PhonePe nahi chalta tab baaki apps chalte hain (PhonePe doesn't work when or apps do) and that's because we have one of most sophisticated kill-switches," he said.

PhonePe: Dream

While market penetration for digital payment platforms like PhonePe started in metros, he said, that revolution actually also reached our villages. In terms of digital payments, at least, Nigam said that he wants "to light up India, coast-to-coast, pillar-to-post".

PhonePe: Reality

Sameer Nigam emphasised on fact that while building PhonePe, a company ṭhat has over 50 crore users, special heed was paid towards building something for country, that could be used by every Indian. Approximately 70% of Indian population exists in Tier-II cities, he said.

While Indian masses have swiftly taken to digital payments infrastructure re is also a lot of stress that is associated with most transactions, on both ends of sender as well as receiver, with every digital transaction. That stress increases when payment does not go through, Nigam furr explained.

Nigam furr extrapolated by saying that PhonePe has retained that kill-switch on purpose. It was done because in digital payments and UPI, failure rates were high and PhonePe wanted to avoid that. This was done as a trust-building exercise.

"One of things that we did to build trust is that if we think that your money will not go through and your money will get stuck is that we don't let you make payment. We block it. That's called a kill-switch."

company built that technology in 2016, months after UPI launched, to stay ahe in market.

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