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February 17, 2020

Indian payments app PhonePe to invest $112m in marketing

Indian digital payment company PhonePe has allocated INR8bn ($112.13m) for marketing this year.

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The proceeds will be used for promotion as well as to expand its reach in the country, reported news agency PTI.

“PhonePe has earmarked Rs 800 crore [INR8bn] for marketing in this calendar year, which will include spends on a mix of ATL, BTL, TV, digital marketing and other advertising mediums,” the company was quoted as saying in a statement.

PhonePe has also partnered prominent Indian film stars Aamir Khan and Alia Bhatt as its brand ambassadors.

Now, it aims to build a 200 million customer base in the country. In India, the payment app competes with Paytm, Google Pay and other similar digital payment apps.

PhonePe founder and CEO Sameer Nigam told PTI: “Our vision is to liberate the flow of money and services so that everyone can unlock opportunities to progress at pace.

“Crafted with this belief, our new brand campaign is a reflection of everyday stories of progress with PhonePe.

“We are also excited to have Aamir Khan and Alia Bhatt as the face of our brand as they are a powerhouse of talent and appeal to Indians across the country.”

Recently, the company introduced a new chat feature on the app. The feature will allow users to request funds and confirm the receipt of a payment through the app.

The PhonePe chat is live on the iOS and Android versions of the app.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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