PhonePe launches 'PG Bolt' for one-click payments amid IPO push

PhonePe Payment Gateway has launched ‘PhonePe PG Bolt’ for Visa and Mastercard credit and debit card transactions, the company said on Saturday.

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

Yuvraj Singh Shekhawat, Chief Business Officer of Merchant Business at PhonePe, said that the launch of

PhonePe PG Bolt feature for Visa and Mastercard is a significant step in the company’s 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,” he said.

This product innovation comes as the fintech major ramps up its technology and capital base following a pivotal year. In September 2025, PhonePe confidentially filed a pre-filed Draft Red Herring Prospectus (PDRHP) with SEBI, gearing up for one of India’s largest IPOs. The company reportedly plans to raise about Rs 12,000 crore ($1.35 billion) by selling shares owned by existing investors, including Walmart, Tiger Global, and Microsoft.

The company’s focus on growth is backed by improving financials. PhonePe reported a sharp rise in revenue for the year ended March 31, 2025 (FY25). Revenue from operations climbed 40.5% to Rs 7,114.9 crore, while net losses narrowed 13.5% to Rs 1,727.4 crore.

The new 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, the statement said. 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.

By utilizing PhonePe’s native SDK, merchants can achieve higher transaction success rates and significantly faster checkout speeds, the statement said.

“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,” the statement said.

Investor confidence in the platform has also deepened recently. In October 2025, General Atlantic invested $600 million in a secondary share sale, doubling its stake in PhonePe to roughly 9%. This brought the firm’s cumulative investment in the Walmart-owned company to approximately $1.15 billion since 2023.

Beyond payments, the company is also diversifying its user experience through generative AI. In November 2025, PhonePe partnered with OpenAI to integrate ChatGPT into its consumer and merchant apps, as well as the Indus Appstore, to assist users with tasks like travel planning and shopping.

(With inputs from PTI)