An internet user recently spotted a car in Palo Alto, California, United States, with a 'PhonePe' number plate. He took to X (formerly Twitter) to post about the same along with a picture of the car. He also tagged the company's founder in the post. Satyan Gajwani wrote, "Spotted on the streets of Palo Alto @_sameernigam @PhonePe. Does this make it a global brand?" This post caught the attention of the car's owner. He replied to Mr Gajwani and said that it was his personal plate when he started the PhonePe office in the US last year.
"It's my personal plate when I started the PhonePe US office last year. When you really believe in your company...," Gaurav Lochan said in the post.
Since being shared, Mr Gajwani's post has amassed over 28,000 views and a hundred likes.
"Good one," said a user.
Another person commented, "QR code ke saat hota, to aur mazaa aajata (If there was a QR code on the license plate, it would have been more fun)."
Several others responded with laughing emojis.
Meanwhile, on October 18, Walmart-owned fintech company PhonePe reported a 77 per cent year-on-year growth and combined revenue of Rs 2,914 crore for the fiscal year 2023. Its combined revenue for the previous fiscal year was Rs 1,646 crore.
Market expansion and industry leadership in digital payments, particularly in significant revenue-generating use cases like money transfers, mobile recharges, and bill payments, have been identified by PhonePe as the main drivers of its growth.
PhonePe was founded in 2015 by Sameer Nigam, Rahul Chari, and Burzin Engineer. In 2018, the company was acquired by Walmart. The subsidiary was recently separated from its e-commerce sibling Flipkart. PhonePe has about 50 crore registered users and processes 45 per cent of transactions on Bharat Bill Pay System (BBPS). The company became a fintech in 2017 and launched mutual funds and insurance products.
