PhonePe, a leading fintech company in India and backed by Walmart, is gearing up to unveil an exclusive app store for Android users in India. This move is the company's latest effort to expand its product offerings and strengthen its hold on the mobile payments sector in the second-largest economy in Asia.
PhonePe, the Indian fintech company backed by Walmart, is set to launch its own app store for Android users in India. The new app store is designed to provide hyper-localised services based on customer context and will offer multilingual solutions to assist developers with high-quality user acquisition. The move follows PhonePe's acquisition of IndusOS, an app store maker that provided services through partnerships with smartphone vendors.
PhonePe is already a major player in the mobile payments market in India, and plans to strengthen its engagement with smartphone vendors including Xiaomi. The app store will offer support for 12 languages, 24x7 live chat, a premiere experience for users, high-quality advertisements and custom targeting. PhonePe has raised $750 million from General Atlantic, Walmart and Tiger Global among others as part of an ongoing funding round this year. A PhonePe spokesperson confirmed the company is working to launch an app store in India and sees an opportunity to build an alternative app store that is more localised than Google's.
The company says it has had positive conversations with phone makers in India, with plans to go live on all Android OEMs within the first few months of launch. The app store is the latest in a series of product developments by PhonePe, which recently entered the e-commerce market.
PhonePe is already a major player in the mobile payments market in India, and plans to strengthen its engagement with smartphone vendors including Xiaomi. The app store will offer support for 12 languages, 24x7 live chat, a premiere experience for users, high-quality advertisements and custom targeting. PhonePe has raised $750 million from General Atlantic, Walmart and Tiger Global among others as part of an ongoing funding round this year. A PhonePe spokesperson confirmed the company is working to launch an app store in India and sees an opportunity to build an alternative app store that is more localised than Google's.
The company says it has had positive conversations with phone makers in India, with plans to go live on all Android OEMs within the first few months of launch. The app store is the latest in a series of product developments by PhonePe, which recently entered the e-commerce market.
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-Anurag
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