Ease of doing business for SMBs: PhonePe partners with companies such as Ola, Myntra, Domino’s Pizza, KFC, Indian Oil Corporation, IRCTC, Swiggy and more to offer its business solutions including PhonePe Switch, cashless payments at offline stores, online payments , and in-app branded ads and rewards.

Ease of doing business for SMEs: Digital payments company PhonePe announced Monday that it has acquired the freelance micro-entrepreneur platform GigIndia. However, the deal amount has not been disclosed by PhonePe. According to the company, it would use GigIndia’s network of 1.5 million freelancers to help businesses and enterprises acquire more customers and scale their distribution channels. GigIndia currently has more than 100 companies as customers. Gig work or freelancing essentially refers to on-demand delivery of work with negligible or no formal contracts.

“This acquisition will enhance PhonePe’s offering and value proposition to its business partners and result in the creation of millions of opportunities for individual freelance micro-entrepreneurs in India. According to reports, the Indian community of freelancers is expected to grow to $20-30 billion by 2025,” PhonePe said in a statement.

“We are delighted to welcome the GigIndia team to PhonePe and use their domain expertise to provide value-added services to our business partners, enabling them to scale, expand and grow their business,” said Vivek Lohcheb, Head of Offline Business, PhonePe.

PhonePe partners with companies such as Ola, Myntra, Domino’s Pizza, KFC, Indian Oil Corporation, IRCTC, Swiggy and more to offer its business solutions, including Switch (which allows merchants to integrate their progressive web apps or mobile sites with the PhonePe app), cashless payments at offline stores, online payments, and in-app brand advertising and rewards.

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The company claimed to have more than 365 million registered users on its app who use it to send and receive money, top up mobile and DTH, pay in stores, pay for utilities, and also buy and purchase gold and silver. to invest. PhonePe is currently accepted at over 27 million retail outlets across India.

“GigIndia is a trusted partner for high-growth companies across India and in PhonePe we have found a like-minded partner who supports our vision,” said Sahil Sharma, CEO of GigIndia.

India’s gig economy, which has gained momentum in recent years due to the success of platform-based companies such as Uber, Swiggy and Urban Company, could potentially create up to 90 million jobs in the country’s non-farm economy. in work volume and add 1.25 percent to the country’s GDP, according to a joint report by the Boston Consulting Group and Michael & Susan Dell Foundation launched last March. The four largest industry sectors, namely construction, manufacturing, retail and transportation and logistics, alone could represent more than 70 million of the potentially “gigable” jobs, the report said.

This post PhonePe acquires freelance platform for micro-entrepreneurs to boost business activity

was original published at “https://www.financialexpress.com/industry/sme/msme-eodb-phonepe-acquires-freelance-platform-gigindia-to-boost-enterprise-business/2467051/”