Flipkart's payment application PhonePe is doubling down on it's micro apps strategy by adding third party services such as cab booking, travel booking, food delivery order within the PhonePe app. The idea is to increase the use case frequency of the app and providing a better customer experience to the users.
This strategy is similar to what Paytm is doing by providing all transaction based use cases to the customers from one single app which handles the payments. In case of Paytm, all of these services are handled directly by Paytm itself while PhonePe has decided to go with a partnership based approach.
Currently PhonePe has partnered with RedBus and Ola and plans to add many other partners in the near term. With micro app platform PhonePe is planning to bring businesses closer to the PhonePe user base which currently stands at hundred million. In the days to come, PhonePe will likely add partners for services including travel booking, cinema ticketing and restaurant and food delivery orders.
With micro App Store front PhonePe will give native app like functionality and experience for partner applications and it will handle common functions such as status notifications, tracking, in app communication et cetera which can be used by business partners through set of APIs.
PhonePe is currently doing transactions worth of 20 billion USD on an annual basis. PhonePe is also adding merchants to use its calculator-style point of sale machine, which the company released last year. Already approximately 15,000 devices have been deployed so far and company expects a 10-fold rise over the next three to four months.