PhonePe rolled out its own in-app payment gateway to help MSMEs (Mico, Small and Medium Enterprises) in India, as per reports.
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PhonePe, backed by Walmart, has joined the list of Paytm, Razorpay, PayU, Pine Labs, and others, for setting up a payment gateway with no extra charges like setup fees or maintenance costs for small and medium business owners. Most of the payment gateways charge 2 per cent on transaction fee.
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PhonePe’s payment gateway aims to help merchants save up to ₹8 lakh, who have monthly sales of ₹1 lakh.
With the latest launch, merchants across Android, mobile web, iOS and desktop can easily accept transactions.
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Earlier in June, PhonePe announced account aggregator services (AAS) to provide secure and easy sharing of financial data between customers and financial institutions.