PhonePe, India’s leading digital payment platform, has announced that it will soon be launching its own app store, providing users with a one-stop-shop for all their app-related needs. This move will position PhonePe as a major player in the rapidly expanding Indian app market, which is estimated to be worth over $34 billion by 2025.
According to a statement by PhonePe, the new app store will offer users access to a wide range of apps across multiple categories, including entertainment, gaming, education, travel, and more. The company has already partnered with several popular app developers, including Ola, redBus, and Goibibo, to ensure that users have access to the best and most popular apps on the market.
Speaking about the launch of the new app store, Sameer Nigam, CEO, and founder of PhonePe, said, “Our aim is to provide our users with a seamless and convenient experience when it comes to their app-related needs. With our app store, users can discover new and exciting apps, as well as access all their favorite apps in one place.”
The new app store is expected to be rolled out in the coming months, and PhonePe is currently working on building a robust and secure platform that will ensure the safety and security of users’ data. The company has also stated that it will be introducing new features and tools to help developers promote their apps and reach a wider audience.
The launch of the app store comes at a time when the Indian app market is experiencing rapid growth, driven by increasing smartphone adoption and the rise of digital payments.
PhonePe, which was acquired by Walmart in 2018, currently has over 350 million registered users and processes more than 1 billion transactions every month. With the launch of its new app store, the company is set to expand its reach even further and cement its position as a leader in India’s digital payments and app market.
According to a report by App Annie, India is now the world’s fastest-growing app market, with app downloads expected to reach 36.9 billion by 2022.