Walmart-owned PhonePe has forayed into the insurance business, partnering with general insurer Bajaj Allianz, in line with its long-term strategy of becoming an all-round financial service provider.
The digital payments player said on Thursday that more such partnerships with a range of financial companies may be in the offing in the coming months in order to further diversify its service catalogue.
“We would be offering a wide range of unique financial products through this year as we go deeper in understanding consumer needs and solving them through strong partnerships in the industry,” said Hemant Gala, head-payments, banking and financial services.
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