PhonePe Payment Gateway introduces ‘Bolt’ for Visa and Mastercard payments

New Delhi- PhonePe Payment Gateway (PhonePe PG) on Saturday announced the rollout of ‘PhonePe PG Bolt’, a new solution designed for Visa and Mastercard credit and debit card transactions.

The offering leverages device tokenisation to deliver a secure and seamless in-app checkout experience for users on the PhonePe platform as well as for its merchant partners.

With this feature, users can tokenise their Visa and Mastercard cards just once on the PhonePe app and then use the saved cards across all merchants integrated with PhonePe PG. This removes the need for customers to repeat the tokenisation process separately with each merchant.

By substituting sensitive card information with secure tokens, the system eliminates the requirement to enter the CVV for repeat transactions on the same device. This streamlined architecture shortens the payment flow, keeps users within the merchant’s app throughout the transaction, and removes the need for redirects to external payment pages.

“The launch of PhonePe PG Bolt for Visa and Mastercard marks an important milestone in our effort to simplify digital payments for millions of Indians. Through device tokenisation, we are enabling a shift from traditional, multi-step checkouts to a secure, one-click payment experience,” said Yuvraj Singh Shekhawat, Chief Business Officer, Merchant Business, PhonePe Limited.

“This not only improves convenience for users but also helps our merchant partners drive growth through higher success rates and lower drop-offs,” he added.

By using PhonePe’s native SDK, merchants can benefit from improved transaction success rates and faster checkout times, driven by the removal of manual card entry and fewer technical hand-offs between payment systems.

The solution also offers a customisable interface that integrates smoothly into a merchant’s existing app flow, helping preserve brand identity while reducing transaction abandonment.

With inputs from IANS