PhonePe Challenges Google and Apple with Indus Appstore
Walmart-owned PhonePe is gearing up to disrupt the mobile app distribution landscape dominated by Google and Apple by launching its own app store, the Indus Appstore.
In a bold move, PhonePe is inviting developers to publish their apps on the Indus Appstore, offering them a significant advantage over Google and Apple. Unlike the industry giants, PhonePe plans to charge developers a zero percent fee on in-app purchases, making it a lucrative option for app creators.
Indus Appstore will support 12 Indian languages, in addition to English, allowing developers to reach a wider audience. Moreover, the platform promises 24x7 India-based customer support, addressing a common concern faced by developers dealing with Google and Apple.
The app store will implement transparent policies, focusing on fairness for both developers and users. It aims to launch a user-friendly consumer app with features such as featured apps, top games, and news apps. Users can seamlessly switch between languages to access apps in their preferred language.
Indus Appstore introduces innovative ways to discover new apps, including short videos similar to Instagram Stories. Users can view these videos and download apps directly, enhancing the app discovery experience.
The launch of Indus Appstore coincides with increased regulatory scrutiny of Google and Apple's app store practices in India. The Competition Commission of India (CCI) directed Google to modify its conduct towards smartphone makers and app developers, including allowing third-party app stores on Google Play.
Google faced backlash from Indian developers over high commission fees, leading to policy modifications. Indus Appstore seeks to address these concerns by offering advertising opportunities, boosted visibility in search, and rich media ads in Indian languages.
For developers, Indus Appstore offers tools to define custom groups, test features, and gain real-time insights into app performance, including competitor trends.
PhonePe's foray into the app store market follows its acquisition of Indus OS, an indigenous Android content and app discovery platform. The company is also actively diversifying into digital commerce, stock broking, Account Aggregator services, and more.
PhonePe is strengthening its position in financial services, including mutual funds and insurance, while maintaining its market leadership in digital payments.
Founded in 2015, PhonePe has undergone significant transformation, raising over $850 million in funding this year. It recently completed its transition to a fully Indian-domiciled company after its spin-off from Flipkart.
As PhonePe continues to innovate and challenge industry giants, its Indus Appstore initiative promises to reshape the mobile app distribution landscape in India.
PhonePe is India's largest digital payments platform, with over 480 million registered users.
PhonePe's app store, Indus Appstore, will be the first major Indian app store to charge a zero percent fee on in-app purchases.
Indus Appstore will allow developers to list their apps in 12 Indian languages, which is more than any other app store in India.
Indus Appstore will also offer a number of features that are designed to be developer-friendly, such as the ability to define custom groups for app rollouts and test features with a select audience.
PhonePe's launch of Indus Appstore comes at a time when Google and Apple are facing increasing scrutiny over their app store practices in India.
In addition to these facts, here are some other relevant and latest developments in the Indian app store market:
In March 2023, the National Company Law Appellate Tribunal (NCLAT) set aside a Competition Commission of India (CCI) order that required Google to allow third-party app stores on Google Play.
However, the CCI is still investigating Google's app store practices, and it is possible that the company could be ordered to make changes in the future.
In recent months, a number of Indian developers have spoken out against Google and Apple's high app store fees.
In response to this pressure, Google has lowered its commission fee for in-app purchases from 30% to 15% for developers who earn less than $1 million per year.
However, many developers say that this is still not enough, and they are calling for Google and Apple to further reduce their fees or eliminate them altogether.
The launch of Indus Appstore is a significant development for the Indian app store market. It remains to be seen whether the app store will be successful, but it is a sign that Indian developers are looking for alternatives to Google Play and the App Store.