PhonePe is broadening its payments offering beyond its UPI-led model through a new partnership with Visa, introducing card-based services aimed at consumers, travellers and small merchants.
The Bengaluru-based fintech company announced 3 new solutions at the Global Fintech Fest 2026 in Mumbai on September 9: Tap to Pay, Cross-Border Scan to Pay and Smart Accept. The offerings build on PhonePe’s Visa card tokenisation capability, which was launched in February 2025.
UPI currently accounts for 89% of digital transactions in India, although its average transaction value is lower than that of typical card payments. Cards continue to have an important role in higher-value transactions and online commerce, where Visa and Mastercard remain major networks.
“By unifying online tokenisation, we are removing friction across the entire payments value chain. The partnership will bring a new standard for borderless and cardless commerce for Indian consumers and micro-merchants alike,” said Rahul Chari, founder and CPTO of PhonePe.
With Tap to Pay, Android users can tokenise their Visa cards through the PhonePe app and make contactless payments at point-of-sale terminals without carrying a physical card.
The Cross-Border Scan to Pay service will allow Indian travellers to scan Visa-supported QR codes across 14 international markets, including Singapore, Malaysia, Thailand, Japan and South Korea.
“By bringing together our global network, tokenisation capabilities, and PhonePe’s unparalleled reach into a seamless experience, we are not just simplifying payments; we are reimagining how India connects with the global economy,” said Suresh Sethi, group country manager, India and South Asia for Visa.
PhonePe is also introducing Smart Accept for merchants. The solution will allow small businesses to accept card payments directly through their smartphones, removing the need for a separate card POS terminal. Customers can tap physical cards or tokenised wallets against the merchant’s device.
While UPI has helped PhonePe achieve significant scale, card payments provide a different revenue opportunity as the company looks to build monetisable businesses around its consumer and merchant base.
As of July 2026, PhonePe had more than 71.5 crore registered users and an acceptance network of over 5 crore merchants.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream LinkedIn | The Mainstream Facebook | The Mainstream Youtube | The Mainstream Twitter
About us:
The Mainstream is a premier platform delivering the latest updates and informed perspectives across the technology business and cyber landscape. Built on research-driven, thought leadership and original intellectual property, The Mainstream also curates summits & conferences that convene decision makers to explore how technology reshapes industries and leadership. With a growing presence in India and globally across the Middle East, Africa, ASEAN, the USA, the UK and Australia, The Mainstream carries a vision to bring the latest happenings and insights to 8.2 billion people and to place technology at the centre of conversation for leaders navigating the future.