Digital payments giant PhonePe has appointed Ritesh Pai as the CEO of its International Payments business, the company announced on Friday. Pai previously held the position of President-Products and Solutions at TerraPay, where he played a key role in launching and implementing payment products and solutions on a global scale. Prior to that, he served as the senior group president and chief digital officer at Yes Bank.
Expressing his enthusiasm for the new role, Sameer Nigam, CEO and Founder of PhonePe, stated, “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.”
In response, Pai praised PhonePe’s accomplishments in India, citing its market leadership achieved through a steadfast commitment to product innovation and customer-centric solutions. He expressed confidence that the same focus would drive the company’s expansion beyond national borders, bringing its payment technology to an international audience.
PhonePe, which boasts 50 crore registered users and 3.7 crore merchants on its platform, has a wide reach covering over 99 per cent of postal codes across India. The company has also diversified its offerings, venturing into financial services and tech-enabled businesses such as Pincode for hyperlocal shopping and Indus App Store, India’s first localized App Store.
