PhonePe to hire upto 550 people this year

BENGALURU: PhonePe will hire up to 550 people this year, as the Flipkart-owned digital payments platform moves to expand business amid expectations of strong growth.

PhonePe, which competes with Google Pay and Paytm to dominate India’s growing digital payments market, has not instituted pay cuts and will start its appraisal process this month.

It will add 20-30% more people to its 1,800-member team. This in contrast to layoffs at many large Internet companies in India.

“Through the last two-three months, we have increased the pace at which we are doing the hiring. As you know, the situation is not good in the ecosystem, so really good individuals are finding themselves losing a job. The available pool in the market looking out is obviously bigger,” said Rahul Chari, co-founder and CTO of PhonePe.