PhonePe Launches Bolt for Faster Card Payments

PhonePe, a popular payment app in India, has launched a new feature called 'PhonePe PG Bolt'.

This feature allows users to save their Visa and Mastercard details securely on the PhonePe app.

Once saved, users can make payments with a single click on any merchant app that uses PhonePe's payment system.

This makes shopping online faster and easier.

The feature uses a technology called device tokenisation, which replaces sensitive card details with secure tokens.

This means users don't have to enter their CVV code every time they make a payment.

PhonePe says this will make payments more secure and reduce the number of steps needed to complete a transaction.

Merchants who use PhonePe's system will also benefit from higher success rates and fewer dropped transactions.