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Mar, 29 2019

PhonePe announces the launch of a Tax Saving solution on its app

The solution allows users to save upto Rs.46,800 in taxes in just a few minutes on the PhonePe app.

PhonePe, India’s fastest growing payments platform, has announced the launch of a Tax Saving solution for its customers. The solution allows users to save up to Rs 46,800 in taxes in just a few minutes on the PhonePe app.

Hemant Gala, Head of Payments, Banking & Financial Services, PhonePe, said, “We are very excited to launch our second wealth management product, after the Gold launch that we did a year ago. This time, our focus is on creating simple, innovative solutions aimed at minimizing our customer’s tax burden. Most consumers find buying financial products to be a complicated process today, and we want to help them by making the end-to-end research and purchase journey really simple.”

Terence Lucien, Head of Mutual Funds, PhonePe, added, “The Government of India has created many attractive tax-savings opportunities that every Indian citizen should be availing. Yet most of us don't leverage these opportunities to the fullest extent. PhonePe’s Tax Saving product is an excellent way for millions of Indians to quickly save thousands of rupees in just a matter of minutes. This can be done instantly anytime, anywhere and in a completely paperless manner. We are confident that our 100 million user base will see tremendous value in this product.”

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