Indian digital wallet platform, PhonePe has announced that it has partnered with Axis Bank Limited on a UPI multi-bank model. The partnership will provide PhonePe users with the option to create and use multiple Unified Payments Interface IDs with Axis Bank’s “@axl” handle.

This collaboration strengthens our commitment towards digitisation of the Indian payment ecosystem. It will help expand our reach to customers and the merchant community while offering secure and seamless payment experiences.

PhonePe had emerged as the top Unified Payments Interface app in January, processing 968.72 million transactions worth Rupees 1.92 trillion, according to data by NPCI. PhonePe will also start acquiring merchants with Axis Bank in addition to its partnership with YES Bank Ltd. It will help expand our reach to customers and the merchant community while offering secure and seamless payment experiences.

PhonePe collaborate with Axis Bank on UPI multi-bank model PhonePe collaborate with Axis Bank on UPI multi-bank model