PhonePe Bolt: Faster, Safer Visa, Mastercard Payments Launched

PhonePe Accelerates Payments with 'Bolt' Feature

PhonePe Payment Gateway has rolled out 'PhonePe PG Bolt,' a new solution aimed at expediting Visa and Mastercard credit and debit card transactions. The feature leverages device tokenization. This technology provides a secure and efficient one-click in-app checkout experience for both PhonePe users and its merchant partners. The launch marks a significant step in simplifying digital payments across India.

Enhanced User and Merchant Experience

Yuvraj Singh Shekhawat, Chief Business Officer of Merchant Business at PhonePe, emphasized the benefits. He stated that PhonePe PG Bolt allows users to move beyond cumbersome traditional checkout processes. Merchants and consumers alike will experience a secure, one-click payment journey. This not only enhances user convenience but also empowers merchants through industry-best success rates and reduced payment drop-offs, directly aiding their growth.

Streamlined Transaction Security

Users can now tokenize their Mastercard and Visa cards just once within the PhonePe app. This enables them to utilize their saved card details across any merchant integrated with PhonePe PG. The need to tokenize cards separately with each individual merchant is eliminated. By substituting sensitive card information with secure tokens, the system bypasses the requirement for CVV entry during subsequent transactions made from the same device. This architecture significantly shortens the payment journey. It keeps users within the merchant's app environment throughout the process, eradicating traditional redirects to external payment pages. Merchants integrating PhonePe's native SDK can expect higher transaction success rates and substantially faster checkout speeds. This efficiency stems from the removal of manual card entry and fewer technical hand-offs between payment entities. The solution also offers merchants a customizable interface that seamlessly integrates into their existing app flow, helping maintain brand consistency while minimizing transaction drop-offs.