PhonePe Invests Rs 2,800 Cr in Data Localisation Push

• Fintech giant PhonePe has invested over Rs 2,800 crore in infrastructure, focusing on servers and data centers across India.
• The investment aims to comply with stringent data localization regulations and optimize infrastructure costs.
• PhonePe's hardware infrastructure manages nearly 7 lakh cores across three data centers in India.
• The company has also reduced its customer support staff by 60% over the past five years through the use of AI chatbots.
• In FY24, PhonePe reported a 73% increase in revenue, reaching Rs 5,064 crore.

Source: Moneycontrol