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PhonePe Launches 'Bolt' for Visa & Mastercard, Enabling One-Click In-App Payments

PhonePe Payment Gateway has launched 'PhonePe PG Bolt' for Visa and Mastercard credit and debit card transactions. The feature uses device tokenization, allowing users to save a card once and use it securely across all integrated merchants without re-entering CVV. This streamlines the checkout process by keeping users within the merchant's app, eliminating redirects and manual entry. The company states this will improve transaction success rates and speed for merchants while enhancing convenience for users.

Key Points: PhonePe PG Bolt Launches for Visa, Mastercard Tokenization

  • Enables one-time card tokenization across merchants
  • Eliminates CVV entry for repeat transactions
  • Reduces payment steps and keeps user in-app
  • Boosts transaction success rates for merchants
2 min read

PhonePe payment gateway introduces 'Bolt' for Visa and Mastercard to streamline in-app card payments via device tokenization

PhonePe Payment Gateway launches 'Bolt' for Visa & Mastercard, using device tokenization for secure, one-click in-app card payments.

"This not only enhances user convenience but also empowers our merchant partners to maximize their growth - Yuvraj Singh Shekhawat"

Bengaluru, January 10

PhonePe Payment Gateway, on Saturday announced the launch of 'PhonePe PG Bolt' for Visa and Mastercard Credit and Debit card transactions. The solution utilizes device tokenization to provide a secure and efficient in-app checkout experience for PhonePe platform users and merchant partners.

According to the company, this feature allows users to tokenize their Mastercard and Visa cards once on the PhonePe app, enabling them to use their saved cards across any merchant integrated with PhonePe PG instead of having to tokenize their card separately with every merchant. By replacing sensitive card details with secure tokens, the system removes the requirement for CVV entry during subsequent transactions carried out on the same device. This architecture reduces the number of steps in the payment journey, maintaining the user within the merchant's app environment throughout the process and eliminating traditional redirects to external pages.

Speaking about the launch, Yuvraj Singh Shekhawat, Chief Business Officer of Merchant Business at PhonePe Limited said, "The launch of PhonePe PG Bolt feature for Visa and Mastercard is a significant step in our journey to simplify digital payments for millions of Indians. By leveraging device tokenization, we will enable users and merchants to move away from the traditional, cumbersome checkout process to a secure, one-click payment experience. This not only enhances user convenience but also empowers our merchant partners to maximize their growth through industry-best success rates and reduced drop-offs."

According to the company, by utilizing PhonePe's native SDK, merchants can achieve higher transaction success rates and significantly faster checkout speeds. This efficiency is driven by the elimination of manual card entry and the reduction of technical hand-offs between payment entities. Additionally, the solution provides merchants with a customizable interface that integrates directly into their existing app flow, helping maintain brand consistency while reducing transaction drop-offs.

PhonePe Limited (Formerly PhonePe Private Limited) is a technology company that builds digital platforms for Payments, Digital Distribution Services, Financial Services and Marketplace Solutions.

- ANI

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Reader Comments

A
Aman W
Great feature, but I hope they have explained the security of tokenization properly to users. Many people in India, especially my parents' generation, are wary of saving card details. Transparency is key.
R
Rohit P
Finally! The redirect to bank pages is the most annoying part of online payments. If this keeps me in the app, it's a massive win for user experience. Hope all major apps integrate this soon.
S
Sarah B
As a small business owner using PhonePe, this sounds promising. Higher success rates and fewer drop-offs mean more completed sales. The customizable interface is a nice touch for branding.
V
Vikram M
Good move, but what about RuPay cards? Visa and Mastercard are great, but we should also push for our own payment network's features. Hope RuPay support is in the pipeline.
K
Kavya N
The convenience is top-notch. But I just hope this doesn't make impulse buying too easy! My wallet might not thank me for this feature 😅. Jokes aside, solid tech from an Indian company.

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