PhonePe was launched in December by Sameer Nigam and Rahul Chari, former senior leaders who recently left Flipkart, and Burzin Engineer, also a former Flipkart executive. The company is reportedly building a product based on the new Unified Payments Interface (UPI) of the National Payments Corporation of India (NPCI).
According to the report, UPI is slated to go live in April and will allow users to transact from their smartphones, by just using their unique identification number (Aadhaar), mobile phone number or a virtual payment address. In addition, there is no need to enter any bank account details. The company currently houses 15 employees.
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