Prior to this, Pai was working with cross-border payments firm Terrapay and was based in Dubai. At TerraPay, Pai was responsible for launching and implementing its payment products and solutions globally.
“PhonePe has achieved market leadership in India with its unwavering commitment to product innovation and building customer-centric solutions. I am confident that this same focus will help us expand our footprint beyond national borders, taking our payment technology to an international audience,” Pai said.
This appointment comes on the back of PhonePe appointing chief executives for each of its different business verticals in November last year. Hemant Gala was made the CEO of the lending business. Vishal Gupta was appointed the chief executive of insurance, Vivek Lohcheb became the CEO for ecommerce app Pincode and Ujjwal Jain became the chief executive of PhonePe’s wealth offerings Share.Market.
‘’Ritesh has been an early believer and staunch supporter of the company and was very instrumental in our early UPI success story. I’m delighted that he’s joined us to lead our international growth plans. I would like to wish him the very best in his new role.,’ said Sameer Nigam, CEO and cofounder of PhonePe.