Posted by New Delhi: Digital payment app PhonePe ties with Extreme IX, India’s largest Internet Exchange Point. This tie-up will enable a faster digital payments experience for PhonePe’s more than 400 million.
PhonePe probably becomes the first payment app to connect with Internet Exchange in India as it aims to decrease latency for users, irrespective of their location or ISP in India.
Leveraging the tie-up with Extreme IX, PhonePe users across India will be able to easily manage their day to day financial transactions. Extreme IX has 30 points of presence in 5 cities in India. It democratises access to content by operating a neutral and faster interconnection platform in the country.
Over 450 networks have connected to the Extreme IX fabric. These include Internet Service Providers (ISPs) and Content Delivery Networks (CDNs) like Netflix, Amazon, Google, Microsoft and Akamai.
“We wanted to stay away from the instability of Internet networks and provide stable, direct connectivity with our CDN. We partnered with Extreme-IX as their wide geo-presence in India has enabled a quick and effective rollout for us,” said Jay Chawda, Head of Engineering for Data centre and Networks, PhonePe.
“Fintech is the future and with the growth in the number of transactions, Extreme IX is presented with a unique opportunity to reduce transaction time and enable the platform to ensure seamless high amount transactions,” said Raunak Maheshwari, Executive Director, Extreme Group.
“We at Extreme IX are elated to be partnering with the industry pioneer, PhonePe. I believe our partnership will act as a catalyst for improved technology infrastructure and awareness on the need of partnering with an Internet Exchange set-up to support the digitisation of operations across telecom, finance and the education sector,” added Maheshwari.