PhonePe, the Walmart-backed fintech company based in Bengaluru, India, has introduced the Indus AppStore Developer Platform, aiming to attract Android developers in India’s vast market. The platform boasts zero platform fees and no commissions on in-app purchases, in stark contrast to Google’s practices. PhonePe’s app store emphasizes Indian localization, offering support for third-party payment providers, a choice of 12 Indian languages, and a phone number-centric login system. During its first year, PhonePe will not charge developers for listing their apps, transitioning to a nominal cost afterward. In addition, the company will not impose a commission on in-app purchases, unlike Google’s 15-30% fees. To better support developers, PhonePe has established an India-based support team, addressing concerns regarding Google’s delayed responses and U.S. time zone operating hours.
This move by PhonePe comes as many Indian businesses and startups have grown frustrated with Google’s dominance, as the Android mobile operating system powers over 95% of smartphones in the country. PhonePe hopes to provide a credible alternative to Google Play Store, offering localization and enhanced app discovery. This initiative aligns with efforts by Indian entrepreneurs and businesses to combat what they perceive as exorbitant fees charged by Google Play Store.
PhonePe is optimistic about the Indian government’s push for Google to accept third-party app stores and features tailored to local needs, such as real-time analytics and industry insights. India is a crucial overseas market for Google, but the company faces increased scrutiny and regulatory challenges. In response, Google has made changes to its business agreements and faced antitrust fines in India.
For PhonePe, this app store launch represents part of its broader expansion strategy. The fintech startup, valued at $12 billion, recently ventured into e-commerce and introduced Share.Market, an app for trading in stocks, mutual funds, and ETFs.
(Source: Manish Singh | TechCrunch)
