PhonePe temporarily pauses IPO listing process

New Delhi, March 16
PhonePe on Monday announced that it has temporarily deferred its public market listing process due to the current geopolitical conflicts and market volatility and will resume the listing process once there is some stability in global capital markets.

Sameer Nigam, PhonePe's CEO said "We sincerely hope for a swift return to peace in all the affected regions. We remain committed to a public listing in India."

As of September 30, 2025, PhonePe has over 65 crore registered users and a digital payments acceptance network spread across over 4.7 crore merchants. The digital payments app was launched in 2016 and headquartered in India.

Meanwhile, in January this year, PhonePe Payment Gateway (PhonePe PG) announced the launch of ‘PhonePe PG Bolt’ for Visa and Mastercard Credit and Debit card transactions.

The solution utilises device tokenisation to provide a secure and efficient in-app checkout experience for PhonePe platform users and merchant partners, according to its official statement.

This feature allows users to tokenise their Mastercard and Visa cards once on the PhonePe app, enabling them to use their saved cards across any merchant integrated with PhonePe PG instead of having to tokenise their card separately with every merchant.

By replacing sensitive card details with secure tokens, the system removes the requirement for CVV entry during subsequent transactions carried out on the same device. This architecture reduces the number of steps in the payment journey, maintaining the user within the merchant’s app environment throughout the process and eliminating traditional redirects to external pages.

"The launch of PhonePe PG Bolt feature for Visa and Mastercard is a significant step in our journey to simplify digital payments for millions of Indians. By leveraging device tokenisation, we will enable users and merchants to move away from the traditional, cumbersome checkout process to a secure, one-click payment experience,” said Yuvraj Singh Shekhawat, Chief Business Officer of Merchant Business at PhonePe Limited.

“This not only enhances user convenience but also empowers our merchant partners to maximize their growth through industry-best success rates and reduced drop-offs," Shekhawat added.