PhonePe forayed into financial services in 2017, with the launch of gold and has since launched several mutual funds and insurance products like tax-saving funds, liquid funds, international travel insurance
NEW DELHI: Digital payments platform PhonePe on Thursday said it has signed up six sponsorship deals for the Indian Premier League (IPL), 2021. Apart from the co-presenting sponsorship with official broadcaster Star India, it is also associate sponsor with Disney+Hotstar. PhonePe is also sponsoring four IPL franchises - Mumbai Indians, Chennai Super Kings, Royal Challengers Bangalore, and Delhi Capitals.
This is the third year in a row that PhonePe is co-sponsoring IPL. PhonePe’s IPL campaign will run e across multiple TV, digital and social media platforms, the company said.
Marketing campaigns will run through the year with a focus on the upcoming IPL 2021. The company said these will largely focus on expanding the user base to 500 million by December 2022 from from 280 million, and drive preference for PhonePe among millions of new-to-digital users.
Sameer Nigam, founder & CEO, PhonePe said, “We are kicking off our most aggressive national marketing campaign ever, starting with IPL 2021 next month. We have invested even more heavily on IPL this year, taking up six different sponsorships. As the category leader, it is our vision as well as our ambition to bring digital payments to every Indian household. Our aggressive marketing efforts are in line with this strategic priority."
PhonePe allows users to send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold and make investments. It forayed into financial services in 2017, with the launch of gold and has since launched several mutual funds and insurance products like tax-saving funds, liquid funds, international travel insurance.
PhonePe launched its Switch platform in 2018 where customers can place orders on over 300 apps, including Ola, Swiggy, Myntra, IRCTC and Goibibo among others. It is accepted at over 18 million merchant outlets across 500 cities.