India, June 6 -- PhonePe has acquired conversational AI platform Gupshup's proprietary technology GSPay to roll out UPI payments tailored for feature phone users.

PhonePe said in a statement that it aims to customise the freshly bought GSPay IP and launch its own UPI-based payment solution for feature phones. This, the company believes will bridge the fintech gap between feature phone users and smartphone users in India.

"..this segment (feature phone) of users have been historically underserved by the digital financial industry and the broader startup ecosystem," said PhonePe cofounder and chief executive officer Sameer Nigam.

Gupshup launched GSPay in 2023. This technology offering uses SMS to enable a seamless payment experience on ...