PhonePe enters into a historic partnership with Extreme IX; becomes the first Fin-Tech company in India to adopt Internet eXchange for an effective nationwide roll out
PhonePe and Extreme IX have joined hands to form a partnership that will enable faster digital payments experience for over 370 million PhonePe users. The payments app became the first digital payments company to participate in an internet exchange in India. This industry first partnership will help decrease latency for PhonePe users irrespective of their location or internet service provider (ISP) in India.
The partnership will allow PhonePe customers across India to easily and swiftly administer their day to day financial transactions. Extreme IX has 30 points of presence in 5 cities in India. It democratises access to content by operating a neutral and faster interconnection platform in the country. More than 450 networks which includes ISPs and prominent content delivery networks like Netflix, Amazon, Google, Microsoft, Akamai to name a few, are connected to Extreme IX fabric.
Commenting on the partnership, Jay Chawda, Head of Engineering, Data centre and Networks, said, ”PhonePe has always been at the bleeding edge of technology, and we are constantly striving to make the payment experience on our app seamless for our customers. The big driver for us to become the first digital payments platform to become early adopters of this technology was that we wanted to stay away from the instability of Internet networks and provide stable, direct connectivity with our CDN. We partnered with Extreme-IX as their wide geo-presence in India has enabled a quick and effective rollout for us.”
Meanwhile, Raunak Maheshwari, executive director, Extreme group, said, “Fin-Tech is the future and with the growth in the number of transactions, Extreme IX is presented with a unique opportunity to reduce transaction time and enable the platform to ensure seamless high amount transactions. We at Extreme IX are elated to be partnering with the industry pioneer, PhonePe. I believe our partnership will act as a catalyst for improved technology infrastructure and awareness on the need of partnering with an internet exchange set-up to support the digitisation of operations across telecom, finance and the education sector.”
