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PhonePe’s next decade is set to focus on international expansion, lending and widening access to financial services, according to founder and CEO Sameer Nigam. The clearest step beyond India so far is reported in-principle approval from the Central Bank of the UAE for two licences—not confirmation that final licences have been issued or that PhonePe has launched there.
What is PhonePe planning next?
At the Moneycontrol Startup Conclave 2026, Nigam described a shift in emphasis: after working to make payments sustainable, PhonePe plans to put more effort into lending and a broader financial-services business. He said the company wants to “100x the reach of financial services to the Indian population.” That is an ambition, not a measured target with a stated baseline, timetable or method.
PhonePe’s direction builds on an expansion beyond payments that the company describes in its own ten-year retrospective. It says it launched in 2016 and later added areas including lending, investments, insurance and broking. The company’s account of its milestones is available in its 2025 retrospective.
Is PhonePe expanding internationally?
Yes, according to Moneycontrol’s account of Nigam’s remarks: PhonePe secured in-principle approval from the Central Bank of the UAE for two licences, described as its first international expansion. Nigam said, “We want to see a homegrown product-tech company go global.”
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In-principle approval is an important regulatory step, but the report does not identify the licence categories, say that final approval has been granted, or give a launch date. It therefore does not establish that PhonePe is operating a UAE service. The report also does not say whether the approvals cover a particular PhonePe product or what customers in the UAE could use.
Why is PhonePe focusing on lending?
Nigam said lending would be “the single biggest focus area” for the next two to three years. He framed the shift against a period of restraint: PhonePe had held back on lending while working to make its payments business sustainable.
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His remarks set out a strategic priority, not a forecast of loan volumes, lending revenue or profitability. The interview does not provide those figures or describe specific lending products, eligibility rules or terms. For consumers, the announcement is not itself an offer of credit; any future product’s availability and terms would need to be assessed separately.
What do Nigam’s payment figures show—and not show?
Nigam told Moneycontrol, “There’s about half a billion people on the payment rails, and about 25-30 million active merchants.” These are his estimates as reported by Moneycontrol, not independently validated counts in the article. It does not define “on the payment rails,” set a threshold for an “active” merchant, or give a measurement period.
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Those figures describe the opportunity Nigam sees in payments and financial services; they should not be read as PhonePe user totals. PhonePe separately said in its 2025 retrospective that it had over 610 million registered users in India at the time of publication. That is a company-reported registered-user figure, with a different scope, and is not directly comparable with the payment-rail estimate.
Is PhonePe planning an IPO?
Nigam’s comments discuss what investors want to see before a public listing: sustainable profit after tax (PAT) growth, or a clear timeline toward it. He also said PhonePe had corrected how it presented its story after an earlier IPO pullback, describing the issue as one of timing and clearer communication.
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- MEMORIES MADE PICTURE PERFECT: Capture every angle in stunning clarity, from wide family photos to close-ups of friends, with the triple-lens camera on Galaxy A17 5G.
- NEED MORE STORAGE? WE HAVE YOU COVERED: With an improved 2TB of expandable storage, Galaxy A17 5G makes it easy to keep cherished photos, videos and important files readily accessible whenever you need them.³
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These remarks do not amount to an IPO announcement. Moneycontrol’s account does not establish a filing date, listing timetable or assurance that PhonePe will proceed with an offering.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the next decade’s plans mean for customers
For now, the interview is a roadmap of priorities rather than a catalogue of newly available services. Its near-term emphasis is lending in India; the international signal is the reported UAE in-principle approvals; and the broader aim is to extend financial-services access. The status of each matters: a stated ambition is not a delivered outcome, and a regulatory approval in principle is not proof of a live service.
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Moneycontrol’s coverage of Nigam’s appearance at the conclave, whose session was titled “PhonePe Turns 10: Charting the Next Decade,” is available here. The event listing identifies Nigam as PhonePe founder and CEO: Moneycontrol Startup Conclave 2026.
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