PhonePe's Indus Appstore might launch today; to challenge Google, Apple
What's the story
Walmart-owned fintech company PhonePe is set to launch its own mobile app store, Indus Appstore, aiming to challenge the dominance of Google and Apple in mobile app distribution.
The announcement might happen as soon as Saturday, i.e., September 23, according to Moneycontrol.
This move from the Bengaluru-headquartered company comes after it acquired Samsung-backed IndusOS last year.
Its app store will reportedly let developers publish their apps with a zero-percent fee on in-app purchases and offer a better experience for users.
Details
App store to provide multilingual support for developers
Indus Appstore will reportedly support listing apps in 12 Indian languages apart from English, allowing developers to upload media and videos in those languages, too.
It also reportedly claims to offer a better experience for developers. In addition to "developer-friendly and transparent" policies, it would feature a real-time tracking feature for app installs and uninstalls and a "transparent rating system."
It is expected to be a zero-percent fee alternative for publishing apps, unlike Google and Apple, which charge 15-30%.
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Enhanced user experience and localized app discovery
Indus Appstore's consumer-facing application will reportedly feature sections like top apps, featured apps, top games, and news apps, along with dedicated tabs for exploring pages, games, and managing account activity.
Through the consumer-facing app, users will be allowed to search for their desired apps and games or discover new apps via a carousel of short videos similar to Instagram Stories.
Insights
PhonePe's expansion plans and more
PhonePe expanded into digital commerce, Account Aggregator (AA) services, online payment gateways, stock broking, and point-of-sale devices last year.
The Bengaluru-based company is also scaling up its financial services offerings, including insurance, mutual funds, and flagship digital payment business.
Moreover, PhonePe is in the process of raising $1 billion in funding at a $12 billion valuation. This year, it has raised over $850 million from investors like Tiger Global, General Atlantic, Ribbit Capital, TVS Capital, and Walmart.