India Payments

Former TerraPay Exec Ritesh Pai to Lead PhonePe’s International Payments

Indian digital payments company PhonePe has announced the appointment of Ritesh Pai as the new CEO of its International Payments division.

In his previous role at TerraPay, Pai served as President of Products and Solutions, where he played a key role in the global implementation of payment products and solutions.

Before TerraPay, he held the position of Senior Group President and Chief Digital Officer at Yes Bank, focusing on digital strategy and transformation, and launching successful partnerships with several leading fintech companies.

PhonePe had raised a total of US$850 million in 2023 which valued the firm at US$12 billion. The fundraise as part of its ongoing efforts to close an ongoing US$ 1 billion financing round.

Sameer Nigam

Sameer Nigam, CEO and Founder of PhonePe said,

‘’We are delighted to welcome Ritesh onboard as CEO – International Payments’ at PhonePe. 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.’’

Ritesh Pai

Ritesh Pai, CEO of International Payments’ at PhonePe added,

“I am excited to join PhonePe as it takes significant strides in shaping the future of digital payments on a global scale. 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.”

Featured image credit: Edited from Unsplash