PhonePe AI Agent Cuts Payment Gateway Integration to Minutes

Source Domain: www.pymnts.com

PhonePe introduced an AI-powered agent allowing easier integration of its payment gateway through conversational interfaces.
The new integration tool aims to reduce integration time from weeks to minutes, especially benefiting small- to medium-sized businesses with limited technical expertise.
PhonePe boasts over 50 million registered merchants across India, covering more than 98% of all postal codes, a growth attributed to efforts simplifying digital entry points for small businesses and moving away from cash-only.
PhonePe emphasizes its commitment to financial inclusion for small merchants through platforms like QR codes, PhonePe Business app, and local sales network support.
The company had to pause its IPO plans due to geopolitical conflicts and market instability but aims to restart when conditions normalize; previously, it anticipated a valuation between $9 billion to $10.5 billion.

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