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PhonePe Launches 'Bolt' for One-Click Visa & Mastercard Payments

PhonePe Payment Gateway has launched a new feature called 'PhonePe PG Bolt' for Visa and Mastercard credit and debit card transactions. The solution uses device tokenisation, allowing users to securely save their card once and use it across multiple integrated merchants without re-entering CVV. This streamlines the checkout process by keeping users within the merchant's app and eliminating redirects. The feature aims to enhance user convenience and help merchants achieve higher transaction success rates with faster checkouts.

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

  • Enables one-click checkout for saved cards
  • Uses device tokenisation for security
  • Eliminates CVV entry for repeat transactions
  • Boosts merchant success rates & reduces drop-offs
2 min read

PhonePe Payment Gateway launches 'Bolt' for Visa and Mastercard transactions

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

"The launch of PhonePe PG Bolt... is a significant step in our journey to simplify digital payments for millions of Indians. - Yuvraj Singh Shekhawat"

New Delhi, Jan 10

PhonePe Payment Gateway on Saturday announced the launch of 'PhonePe PG Bolt' for Visa and Mastercard Credit and Debit card transactions.

The solution utilises device tokenisation to provide a secure and efficient in-app checkout experience for PhonePe platform users and merchant partners.

This feature allows users to tokenise 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 tokenise 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.

"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 tokenisation, we will enable users and merchants to move away from the traditional, cumbersome checkout process to a secure, one-click payment experience," said Yuvraj Singh Shekhawat, Chief Business Officer of Merchant Business at PhonePe Limited.

"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," Shekhawat added.

By utilising 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 customisable interface that integrates directly into their existing app flow, helping maintain brand consistency while reducing transaction drop-offs.

- IANS

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Reader Comments

R
Rohit P
Great move by PhonePe. Tokenisation is the future for secure payments. But I hope they ensure this works flawlessly across all types of devices and networks. Sometimes these 'faster' features end up causing more confusion for less tech-savvy users like my parents.
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Aman W
Finally! The constant redirects to bank pages are so annoying and break the flow. If this keeps me in the app and is secure, I'm all for it. PhonePe continues to innovate in the UPI space, good to see them doing it for cards too.
S
Sarah B
As a small business owner using PhonePe, this sounds promising. Higher success rates and fewer drop-offs directly impact our bottom line. The customisable interface is a nice touch for brand consistency. Looking forward to trying it out.
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Vikram M
Security is my main concern. Replacing card details with tokens sounds good on paper, but I hope the implementation is rock-solid. We've seen data breaches before. PhonePe has a good reputation, so I'm cautiously optimistic. Jai Hind!
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Karthik V
Good step for digital India. But what about RuPay cards? They are promoted under our national payments push. Hope a similar feature for RuPay is in the pipeline. We should support our homegrown card network as well.

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