India’s leading payment and financial services enterprise, PhonePe, has recently announced the launch of PhonePe Pulse– India’s first of its kind interactive geospatial site. PhonePe Pulse has been specifically designed to provide its users with all possible granular data and insights on the trends prevailing in the digital payments scenario in India. The platform is a culmination of months of research and analysis as performed by a diverse team of Business Analysts, Deeptech Experts, Corporate Professionals, Marketers, Designers and Software Developers, and is presently India’s go-to destination for precise and all-encompassing data on digital payment trends.
The CEO speaks..
“Pulse is our way of giving back to the digital payments ecosystem. When we started PhonePe five years back, we struggled to get reliable granular data on digital payments trends across the country. We had promised ourselves that if we are successful and gather enough data on our platform, we would open it for anyone who wants to get deeper insights on the Indian payments industry. We built PhonePe Pulse because we can, and crucially because we should help unlock opportunities for others to build in India.” said Sameer Nigam, founder and Chief Executive Officer, PhonePe while addressing the media at the launch.
- The Pulse Website displays over 2000+ Crore transactions by consumers, from 2018, on an interactive map of India. With PhonePe owning over 46% of the total UPI market share, the data showcased is representative of the nation’s digital payment habits. The platform gives us a ring-side view of how India sends, spends, manages and grows its money.
- The Pulse Website would be updating this data quarterly, and is supposed to open up platform application programming interfaces (APIs) in order to help financial and technical product developers like us fabricate better and use-case specific products based on the data & insights available on the platform.
- The website also consists of the PULSE REPORT- an in-depth study of the latest payment trends, deep insights, industry metrics and a lot more — all in one place! The report not only reveals the various location and category-specific payment trends of the country, but also elucidates how exactly the digital payments scenario has evolved and has been accepted and adopted by the masses over the past five years. PhonePe’s transaction data, in addition to customer and merchant reviews, has helped develop this report, which is available as a free download on the Pulse Platform.
Who all would be benefiting from this Platform?
The demystification of the what, why and how of digital payments in India is of immense importance to multiple ecosystem stakeholders. This includes the government, regulatory authorities, startups, fintechs, merchant partners, industry analysts and many more such individuals and bodies. Also, their detailed articles on consumer and merchant use cases in digital payments can be utilised by these partners to understand merchant and customer behaviour and thereby recognize new opportunities for development and growth.
Data Sutram and Pulse- The Future..
With PhonePe entering the market of alternative data, Pulse’s open-source UPI transaction data can be leveraged further with Data Sutram’s 6crore+ pan-India merchant intelligence data for actionable insights on Customer Acquisition & Risk Analysis. This revolutionary collab can help unveil India’s digital penetration scenario via the combination of Pulse Insights and Sutram’s Kirana store/merchant count, or can even help uncover greater insights about state or district wise transaction values via the amalgamation of Sutram’s location-wise affluence estimation, Sutram’s merchant map and PhonePe Pulse’s geospatial insights. Data Sutram, being a part of the developer community, is definitely on its way to make the utmost use of Pulse to solve India’s digital payments landscape issues and power its own decisions on the products and scorecards being built for the Retail, Pharma and the BFSI domains.