PhonePe has partnered with Visa to launch Visa Safe Click, a one-click payment feature on its platform.
The new feature is in line with RBI’s regulations that allow card networks to authenticate transactions up to Rs2,000. It will enable Visa cardholders to make payments up to Rs2,000 without having to enter an OTP or CVV.
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PhonePe Payments and Financial Services vice-president Hemant Gala was quoted by zee business as saying: “With millions of Visa cards saved on the PhonePe platform, the launch of ‘Visa Safe Click’ will help our customers experience single click seamless payments on the PhonePe app and at our merchant partners. We expect PhonePe’s network of over 10 million merchants to benefit from higher success rates and faster turn-around times with this one-click payment experience.”
Visa debit or credit cards users will be able to activate Visa Safe Click on PhonePe app through a one-time validation process to register their card.
Using the new payment feature, customers carry out transactions on recharges, bill payments, switch platform and other features available on the app easily and quickly.
Commenting on the launch of new payment, Visa India and South Asia Merchant Sales & Acquiring head Shailesh Paul said: “Indian customers are increasingly turning to purchase goods and services online, driving e-commerce to reach $225 billion (estimated) by 2022 and platforms such as PhonePe help drive this convenience.”
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By GlobalData
