PhonePe Payment Gateway (PhonePe PG) introduced ‘PhonePe PG Bolt’ to facilitate secure Visa and Mastercard transactions. This innovative solution employs device tokenisation to streamline in-app checkouts for PhonePe users and merchants.
Users can tokenize their Visa and Mastercard cards once on the PhonePe app, enabling seamless usage across all merchants integrated with PhonePe PG. By substituting sensitive card details with secure tokens, the system eliminates the need for CVV input during subsequent transactions on the same device, simplifying the payment process.
Yuvraj Singh Shekhawat, Chief Business Officer of Merchant Business at PhonePe Limited, emphasized the significance of the PhonePe PG Bolt feature. Leveraging device tokenisation, this advancement aims to transition users and merchants from complex checkouts to a secure, one-click payment experience, enhancing convenience and boosting success rates for merchants.
Merchants leveraging PhonePe’s native SDK can benefit from enhanced transaction success rates and quicker checkout processes. The solution offers a customizable interface integrated into the merchant’s app flow, ensuring brand consistency and reducing transaction drop-offs.
