PhonePe was formed with a mission to be a universal, seamless, and safe mobile payments ecosystem. It is India’s fastest-growing mobile payments app with 150 million users transacting with 6.5 million businesses.
The Anxiety of Financial Transactions
When it comes to payments and finances, customers are anxious and impatient when they encounter issues. Vishal Gupta, Head of Product at PhonePe, knew that delivering the best customer service was the only way to win customers for life.
The ambition of PhonePe is to serve the entire country with a wide range of income groups and transaction types. From buying groceries to investing in gold, customers transact with merchants across a range of service and transaction amounts. With the wide range of services on offer, Vishal wanted to provide consistent service across the board. Training agents on 1000+ SKUs and hiring them at speed was going to be a challenge. PhonePe decided to eliminate agent training as a variable in the customer experience and try to automate as many customer service inquiries as possible.
Massive scale is a factor behind every decision at PhonePe. The company processes 380 million transactions per month and volumes double every 3-5 months. Because of this, Vishal was looking for a customer service platform and partner that could scale with PhonePe’s rapid growth.
He also knew that only the best customer service partner would be up to the challenge. Vishal was on the lookout for a partner who echoed PhonePe’s customer-first ethos. He said, “Decisions at PhonePe are taken keeping in mind the consumers and what the right choice is for them. We are constantly trying to see where we can add value and enrich their existing relationship with us.”
A Solution that’s on the Money
Vishal’s search ended with the Freshworks customer service platform, with its intuitive helpdesk and the AI-powered Freddy bot.
- With a majority of customer service queries coming on mobile, PhonePe has invested in live chat and chatbots alongside traditional channels like email and phone.
- PhonePe started deploying chatbot to automate common service inquiries like “What’s my balance?”. They eventually went on to automate 850 decision items and integrated their ERP systems with the Freddy bot platform. PhonePe resolves 60%(!!) of their customer service inquiries without human intervention. They’ve also realized higher CSAT scores for bots compared to traditional channels of service.
- To overcome the challenge of training agents on constantly growing services and scenarios, PhonePe has deployed a Freddy agent-assist bot that helps agents with customer context, guided workflows, and next best actions.
Vishal Gupta, Head of Product, PhonePe, said, “We adopted Freshworks' Freddy omnibot platform for a highly automated and personalized customer experience. We have been using it for a year and can confidently say that we have accomplished most of what we had in mind.”