Outstanding Innovation is Kantar’s annual campaign spotlighting the world’s most innovative brands. This year, we unpack the strategies of those not just adapting to change but actively shaping what’s next.
PhonePe, recognised in the Consistently Innovative Brands category, is a digital payments and financial services company dedicated to making money movement and financial access seamless and inclusive.
For PhonePe, innovation is more than a process—it’s a mindset guiding every decision and every product. What began as a tech-driven disruptor has become a beacon of consumer-led innovation, championing financial inclusion and bridging digital divides across India.
Innovation at the core
From the outset, PhonePe has made innovation its foundation. The company’s commitment to meaningful progress is clear. “Constant innovation has been central to PhonePe’s growth since its inception. Our brand and product philosophy is centred around continuously improving at the core. We aim to focus on the most minute details which would eventually make a big difference at India’s population scale and further drive the cause of financial inclusion,” the team explains.
But what truly sets PhonePe apart is not just its ability to build cutting-edge technology, but its relentless pursuit of understanding and serving the real needs of its users. This shift—from a technology-first to a consumer-first mindset—has been the catalyst for some of the brand’s most impactful innovations.
Democratising access
A standout example is the democratisation of gold investment. Traditionally reserved for the affluent, PhonePe broke barriers by introducing daily and monthly SIPs (Systematic Investment Plans) for gold, with a minimum investment of just Rs. 5. “Customers have the flexibility to invest any amount (starting as low as Rs. 5) and sell their gold holdings anytime, with the money credited to their bank accounts,” the team explains. This innovation, born from a deep understanding of consumer aspirations and constraints, has empowered millions to build wealth, regardless of income or location.
Source: https://www.phonepe.com/gold/
Security is another area where innovation shines. PhonePe Protect isn’t just a technical upgrade— it’s a promise of trust and safety for every user. “At PhonePe, payment security is paramount… ‘PhonePe Protect’ is more than just a security feature—it’s our commitment to building a safer digital payments ecosystem for India,” the team says.
Bridging the digital divide
True innovation at scale means designing for everyone, not just the digitally savvy. PhonePe’s journey has been shaped by the challenge of serving a vast and diverse population, many of whom are new to digital finance. “The primary challenges that PhonePe faced along the way were rooted in its massive scale… building a robust and reliable product that would be simple enough for users with limited tech and financial literacy,” the team notes.
The collaboration with SIDBI to launch the Udyam Assist Platform (UAP) reflects this inclusive vision. By helping micro, small, and medium-sized businesses formalise and access government schemes, PhonePe has opened the door to the digital economy for countless entrepreneurs.
What drives PhonePe’s success? Here are three takeaways for innovators seeking to make a real impact.
1. Begin with empathy, not just technology
True innovation starts with understanding people: their needs, aspirations, and constraints. Let your curiosity about the “why” behind user behaviour guide decisions and empower those you serve.
2. Design for everyone, not just the few
Meaningful progress comes from building products that are simple, accessible, and inclusive. Focus on the details that matter at scale, so your innovations bridge divides and open doors for all.
3. Embrace openness and relentless iteration
Innovation is a journey, not a destination. Listen deeply, learn continuously, and challenge assumptions. By fostering a spirit of experimentation and openness, you’ll create lasting value and set new standards for what’s possible.
A Model for the Future
PhonePe’s journey shows that true innovation is about using technology as a tool to solve real problems, empower people, and create lasting value. By embracing openness, diversity, and experimentation, PhonePe has not only bridged digital divides but has set a new standard for what it means to be a truly inclusive, consumer-led brand.
Learn from Outstanding Innovators 2025
Access all free content from this year’s Outstanding Innovation here. Discover the secrets to disruptive innovation, learn from the world’s most innovative brands and start planning your future-focused innovation strategy.
