PhonePe appoints Ritesh Pai as CEO of its global payments biz

Digital payments major PhonePe on Friday announced the appointment of Ritesh Pai as CEO of its International Payments business.

Pai earlier worked at President-Products and Solutions at TerraPay and was responsible for launching and implementing payment products and solutions globally.

Prior to that, he served as the senior group president and chief digital officer at Yes Bank.

“Pai has been an early believer and staunch supporter of the company and was very instrumental in our early UPI success story. I’m delighted that he’s joined us to lead our international growth plans,” said Sameer Nigam, CEO and Founder of PhonePe.

Pai said that PhonePe has achieved market leadership in India with its unwavering commitment to product innovation and building customer-centric solutions.

“I am confident that this same focus will help us expand our footprint beyond national borders, taking our payment technology to an international audience,” he added.

PhonePe currently has 50 crore registered users and 3.7 crore merchants on its platform, covering over 99 per cent of the postal codes across the country.

The company has also expanded into financial services as well as tech-enabled businesses such as Pincode for hyperlocal shopping and Indus App Store which is India’s first localised App Store.