PhonePe, a prominent player in digital payments, has named Ritesh Pai, former Chief Digital Officer at Yes Bank. As the Chief Executive Officer of its international payments business. Before joining PhonePe, Pai held a position at Terrapay, a cross-border payments company, where he was situated in Dubai. At TerraPay, Pai played key role in the successful launch and global implementation of the company’s payment products and solutions.
“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,” Pai said.
This move follows PhonePe’s strategic decision in November of previous year to designate individual chief executives for distinct business verticals. Hemant Gala assumed the role of CEO for the lending business, Vishal Gupta took on the position of chief executive for insurance, Vivek Lohcheb became the CEO for the ecommerce app Pincode, and Ujjwal Jain was appointed as the chief executive overseeing PhonePe’s wealth offerings under Share Market.
‘’Ritesh has been an early believer and staunch supporter of the company. He was very instrumental in our early UPI success story. I’m delighted that he’s joined us to lead our international growth plans. I would like to wish him the very best in his new role.,’ said Sameer Nigam, CEO of PhonePe