Indian digital payment company PhonePe has allocated INR8bn ($112.13m) for marketing this year.
The proceeds will be used for promotion as well as to expand its reach in the country, reported news agency PTI.
Go deeper with GlobalData
“PhonePe has earmarked Rs 800 crore [INR8bn] for marketing in this calendar year, which will include spends on a mix of ATL, BTL, TV, digital marketing and other advertising mediums,” the company was quoted as saying in a statement.
PhonePe has also partnered prominent Indian film stars Aamir Khan and Alia Bhatt as its brand ambassadors.
Now, it aims to build a 200 million customer base in the country. In India, the payment app competes with Paytm, Google Pay and other similar digital payment apps.
PhonePe founder and CEO Sameer Nigam told PTI: “Our vision is to liberate the flow of money and services so that everyone can unlock opportunities to progress at pace.
“Crafted with this belief, our new brand campaign is a reflection of everyday stories of progress with PhonePe.
“We are also excited to have Aamir Khan and Alia Bhatt as the face of our brand as they are a powerhouse of talent and appeal to Indians across the country.”
Recently, the company introduced a new chat feature on the app. The feature will allow users to request funds and confirm the receipt of a payment through the app.
The PhonePe chat is live on the iOS and Android versions of the app.
