Swipe Smarter: PhonePe’s Bolt Speeds Up Card Transactions

Strengthening Digital Payment Security  
 
PhonePe Payment Gateway has announced the launch of ‘PhonePe PG Bolt’, a security-driven solution designed to streamline Visa and Mastercard credit and debit card transactions. The feature leverages device tokenisation, allowing users to save their cards once on the PhonePe app and use them seamlessly across all PhonePe-integrated merchants.  

By eliminating repeated CVV entry and redirects, PG Bolt simplifies the checkout process, offering a faster and safer payment experience. According to Yuvraj Singh Shekhawat, Chief Business Officer of Merchant Business at PhonePe, the initiative is a significant step toward simplifying digital payments for millions of Indians while empowering merchants with higher success rates and reduced transaction drop-offs.  

Key Highlights  

• Device tokenisation replaces sensitive card details with secure tokens  
• Users can save Visa and Mastercard cards once for seamless future use  
• Eliminates CVV entry and redirects during subsequent transactions  
• Boosts checkout speed, reduces drop-offs, and improves merchant success rates  
• Part of PhonePe’s broader push to simplify and secure digital payments  

Final Takeaway  
With PG Bolt, PhonePe strengthens its position in India’s digital payments ecosystem by combining convenience with enhanced security. The feature marks a milestone in the company’s mission to deliver frictionless transactions for both users and merchants.  

Sources: The Hindu, Economic Times, Reuters