NewsStocksPhonePe Payment Gateway Launches 'Bolt' Feature for Secure Visa and Mastercard TransactionsPhonePe Payment Gateway Launches 'Bolt' Feature for Secure Visa and Mastercard Transactions
PhonePe Payment Gateway has launched 'PhonePe PG Bolt', utilising device tokenisation for secure Visa and Mastercard transactions. The feature enables one-click payments by eliminating CVV entry for repeat transactions and allows cross-merchant card usage after single tokenisation. Merchants benefit from higher success rates, faster checkout speeds, and reduced transaction drop-offs through the integrated solution.
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PhonePe Payment Gateway has announced the launch of 'PhonePe PG Bolt', a new feature designed to enhance security and streamline Visa and Mastercard credit and debit card transactions. The solution utilises advanced device tokenisation technology to deliver a secure and efficient in-app checkout experience for both PhonePe platform users and merchant partners.
Enhanced Security Through Device Tokenisation
The core innovation of PhonePe PG Bolt lies in its device tokenisation approach, which replaces sensitive card details with secure tokens. This security enhancement eliminates the requirement for CVV entry during subsequent transactions carried out on the same device, significantly reducing friction in the payment process.
| Feature | Benefit |
|---|---|
| Device Tokenisation | Replaces sensitive card details with secure tokens |
| One-Click Payments | Eliminates CVV entry for repeat transactions |
| Cross-Merchant Usage | Single tokenisation works across all integrated merchants |
| Enhanced Security | Protects card information throughout transaction process |
Simplified User Experience
The new feature addresses a key pain point in digital payments by allowing users to tokenise their Mastercard and Visa cards once on the PhonePe app. Once tokenised, users can utilise their saved cards across any merchant integrated with PhonePe PG, eliminating the need to tokenise cards separately with every merchant.
This streamlined approach reduces the number of steps in the payment journey while maintaining users within the merchant's app environment throughout the entire process. The solution eliminates traditional redirects to external pages, creating a more seamless checkout experience.
Merchant Benefits and Integration
For merchant partners, PhonePe PG Bolt offers significant operational advantages through PhonePe's native SDK integration. The solution enables merchants to achieve higher transaction success rates and significantly faster checkout speeds by eliminating manual card entry and reducing technical hand-offs between payment entities.
Key merchant advantages include:
- Customizable Interface: Direct integration into existing app flows
- Brand Consistency: Maintains merchant branding throughout checkout
- Reduced Drop-offs: Streamlined process minimises transaction abandonment
- Higher Success Rates: Improved technical efficiency increases completion rates
Strategic Impact on Digital Payments
Yuvraj Singh Shekhawat, Chief Business Officer of Merchant Business at PhonePe, described the launch as "a significant step in the company's journey to simplify digital payments for millions of Indians." He emphasised that the device tokenisation technology enables both users and merchants to move away from traditional, cumbersome checkout processes toward a secure, one-click payment experience.
The implementation represents PhonePe's continued focus on enhancing user convenience while empowering merchant partners to maximise growth through improved success rates and reduced transaction drop-offs in the competitive digital payments landscape.
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