PhonePe aims to replicate UPI success across expanding financial services

Fintech major PhonePe is strengthening its presence across key financial verticals—payments, lending, insurance, and wealth management—as it aims to replicate its success in the Unified Payments Interface (UPI) space across other domains.

Backed by Walmart, PhonePe plans to leverage its scale on UPI to drive cross-sell opportunities—a strategy widely adopted by consumer-focused fintech companies. However, what sets PhonePe apart is its vast user base.