PhonePe unveils Rs 500 crore marketing push, its largest yet

BENGALURU: Flipkart-backed payments company PhonePe is embarking on its largest marketing drive to date, with Rs 500 crore of investment behind it. It is banking on a mix of cricket and Bollywood.

PhonePe will be one of the broadcast co-sponsors of the Indian Premier League (IPL), for which it has spent over Rs 100 crore. It has also roped in actor Aamir Khan as its brand ambassador.

“The combination of cricket and a credible celebrity like Khan is the ideal combination to reach out to the mass of the country and convince them. Products like UPI and PhonePe in that ecosystem are well established and we are seeing large volume of transactions. So, now it’s important for us to go out and educate the next 400-500 million users and get the tier-II and tier-III new-to-internet users to transact digitally,” said PhonePe co-founder and CEO Sameer Nigam.