PhonePe has partnered with Axis Bank on a Unified Payments Interface (UPI) multi-bank model. This will provide the users an option to create and use multiple UPI IDs with Axis Bank’s handle ‘@axl’.
In addition to this, PhonePe will start acquiring merchants with Axis bank in addition to its pre-existing partnership with YES Bank. This move was executed to fulfil the company’s of offering users and merchant partners a seamless transaction experience.
Hemant Gala, the VP of Financial Services and Payments at PhonePe, said, “At PhonePe, our foremost priority is to provide the best in class payments experience to our users. We are excited to partner with Axis Bank to provide our users an option to create and transact using @axl handle on PhonePe.