UPI changed everything. The Indian government built free, instant payment rails and we built the best app on top of them. PhonePe exists because India's central bank did something no other central bank has done.
We process 5 billion transactions a month. Five billion. That's more than Visa processes globally. And we do it for free. The Indian payments market is operating on a completely different model than the West.
Flipkart incubated us. Walmart acquired Flipkart. Suddenly we were a subsidiary of a $400 billion American retailer. Then we separated and became a $12 billion independent company. That's a wild corporate journey.
Google Pay and Paytm are strong competitors. But we have 48% of UPI market share. Nearly half of every digital payment in India goes through PhonePe. Share like that is hard to take away.
A chai wallah in rural India accepts PhonePe. A street vendor in Varanasi accepts PhonePe. That's not a tech story. That's a financial inclusion story. And it happened in five years.