Fintech major PhonePe eyes replicating UPI success via diversification

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.