PhonePe becomes top-rated app on Apple app store in India
PhonePe on Tuesday announced that it has hit 6.4 million ratings on the Apple app store in India with an average rating of 4.7 stars.
PhonePe Pte.Ltd., India’s one of the most used digital payment platforms, declared the acquisition of OSLabs, a versatile stage that empowers content and application revelation for users and application designers.
PhonePe, AGPL Pte. Ltd., and OSLabs Pte. Ltd. have arrived at a genial settlement regarding this situation, with PhonePe obtaining AGPL’s whole stake at a higher cost than expected.
The conclusion of this arrangement permits PhonePe to seek after its expressed vision of building a local Appstore fully homegrown, while AGPL gets exceptional on its unique speculation.
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Commenting on the acquisition Sameer Nigam, Founder and CEO PhonePe said: “We are very excited to embark on this journey with OSLabs, and build just the kind of the localised App store that India needs.”
Mei Theng Leong, Director of AGPL added: “We are happy that the matter has been amicably settled for all the entities. We wish the PhonePe team the very best for its stated vision of building a homegrown horizontal, local Appstore.”
PhonePe was established in December 2015 and has arisen as India’s biggest digital payment app, enabling digital inclusion for consumers and merchants alike.
With over 390 million enrolled users, one out of four Indians are presently on PhonePe.
The organisation said it has additionally effectively digitised more than 30 million offline vendors spread across India.
(inputs from IANS)
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