PhonePe Rebrands Indus Appstore and Expands Marketplace
PhonePe has renamed its native app marketplace, Indus Appstore, to PhonePe Appstore, as it broadens its scope from app discovery to a marketplace for digital products and services.
The platform is currently accessible on over 200 million devices, fueled by partnerships with original equipment manufacturers (OEMs).
The leading five states in adoption are Uttar Pradesh, Maharashtra, Bihar, Karnataka, and Telangana. Its inventory features applications like ChatGPT, Duolingo, ShareChat, and Sony LIV, as well as games such as Honor of Kings and Hitwicket. Among its top categories are social, action, and simulation games.
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In addition to apps and games, the PhonePe Appstore provides gift cards and top-ups in various categories. The platform aims to utilize PhonePe’s payment system to enhance the search and acquisition of digital products, while also generating extra distribution and revenue opportunities for developers.
Priya Narasimhan, Chief Business Officer at PhonePe Appstore, says, “Rebranding Indus Appstore to PhonePe Appstore is a major milestone in our journey and brings in the trust and reach of the PhonePe brand. Developers can look beyond simple app discovery and unlock new ways to earn—including ads, gift cards, and top-ups.”
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The company has additionally introduced phonepeappstore.com, a webstore that empowers consumers to explore and buy digital products through desktop and mobile browsers without needing to download a specific app. The platform's future features consist of digital recharge options for in-game currencies like coins and skins, enhancements for dating apps, and tech-related top-ups. Gaming top-ups are expected to launch initially.
With its rebranding and growth, PhonePe Appstore seeks to create a cohesive marketplace for digital products, merging app distribution with the exploration and purchase of digital goods.
Earlier, PhonePe and HDFC Bank introduced ‘PhonePe HDFC Bank Co-branded Credit Card’, signifying PhonePe’s debut in the co-branded credit card market. The revamped series of RuPay credit cards aims to provide customers with opportunities to earn rewards on UPI transactions, especially when made on the PhonePe platform.
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The collaboration merges HDFC Bank’s banking knowledge with PhonePe’s digital payment system. The cards come in two versions – ‘Ultimo’ and ‘UNO’ – and offer reward points for various spending areas like recharges, bill payments, travel, online shopping, groceries, and taxi services. The cards support UPI, enabling users to conduct payments through UPI and accumulate reward points through the UPI QR merchant network.
Qualified users can request the card through the PhonePe app using a digital method. After being issued by HDFC Bank, the card can be connected to the PhonePe app for UPI transactions. Users can manage their card and settle their credit card bills via the app.