PhonePe is expanding beyond its core digital payments business with a broader marketplace strategy. On October 28, 2026, Moneycontrol reported that the company is rebranding Indus Appstore as PhonePe Appstore and adding digital gift cards and vouchers across categories such as shopping, travel, gaming, food and lifestyle. Brands available through the expanded offering include Steam, Uber, Blinkit, Roblox, BigBasket, Cleartrip, IKEA and District.
The move could help PhonePe turn its app-distribution platform into a broader destination for digital products, connecting app discovery with purchases of vouchers and other services. It also strengthens the company’s effort to build businesses beyond payments as it prepares for a potential public listing. Moneycontrol reported that PhonePe had been approached for comment and had not responded at the time of publication.
Key Takeaways
- New brand: Indus Appstore is being rebranded as PhonePe Appstore.
- Broader offering: The platform is expanding beyond Android apps and games into digital gift cards and vouchers.
- Multiple categories: Products cover shopping, travel, gaming, health and fitness, food, and lifestyle.
- Recognizable brands: Reported offerings include Steam, Uber, Blinkit, Roblox, BigBasket, Cleartrip, IKEA and District.
- Distribution reach: PhonePe’s existing smartphone-manufacturer partnerships give the app marketplace a substantial potential audience.
- Strategic objective: The change could create new digital-commerce opportunities alongside PhonePe’s payments and financial-services businesses.
What Is Changing at Indus Appstore?
Indus Appstore launched in February 2024 as PhonePe’s alternative to established Android app marketplaces, including Google Play. Its original focus was app discovery and distribution, with support for English and 12 Indian languages.
The platform was designed to give users another place to discover and download Android applications while offering developers an alternative distribution channel. Its localized experience, video-based app discovery and developer-focused policies were intended to make it more relevant to Indian consumers and businesses.
The rebranding to PhonePe Appstore signals a broader ambition. Instead of concentrating only on apps and games, the platform is adding digital products that consumers can purchase directly.
According to Moneycontrol, users can buy gift cards and vouchers through web and mobile interfaces. These products span several consumer categories, potentially making the service useful even when someone is not looking to download a new application.
The new name also connects the marketplace more directly to PhonePe’s established consumer brand. That could help users recognize the service and understand how it fits into the company’s wider digital ecosystem.
What Can Users Buy Through PhonePe Appstore?
The expanded marketplace introduces digital gift cards and vouchers from brands across multiple categories.
| Category | Examples reported by Moneycontrol |
|---|---|
| Gaming | Steam, Roblox |
| Mobility and travel | Uber, Cleartrip |
| Grocery and quick commerce | Blinkit, BigBasket |
| Shopping and lifestyle | IKEA |
| Entertainment and experiences | District |
| Health and fitness | Additional category offerings reported by the publication |
Digital gift cards allow consumers to purchase prepaid value for a particular brand or service. Vouchers can provide access to discounts, offers or specified products, depending on the terms of the issuer.
For customers, bringing these products together with app discovery could simplify the process of finding and purchasing digital goods. Instead of visiting several different websites, users may be able to browse products across categories through a single marketplace.
The exact denominations, restrictions, redemption conditions and promotional offers will vary by brand. Consumers should check the terms of each gift card or voucher before purchasing it.
Why PhonePe Is Expanding Beyond App Distribution
The move fits into PhonePe’s wider strategy of developing multiple consumer-facing businesses.
Payments give the company a direct relationship with a large number of users and merchants. A broader digital marketplace could create additional ways to serve those users, including digital purchases that are not themselves payment transactions.
For example, a customer might use PhonePe to make a payment, browse an app marketplace and later purchase a gaming gift card or a travel voucher. These activities create more opportunities for the platform to participate in a customer’s digital spending.
The company is also making changes to other products. Moneycontrol reported that PhonePe recently repositioned its stockbroking platform Share.Market as PhonePe Invest, shifting its emphasis toward investors seeking to build and manage larger equity portfolios.
Together, the changes suggest an effort to make the PhonePe brand more prominent across different services. However, the long-term commercial impact will depend on user adoption, product quality and the ability to generate sustainable revenue from each business.
How PhonePe Appstore Could Compete in India’s App Market
India’s Android ecosystem has traditionally been dominated by Google Play, which provides app discovery, distribution and related services. An alternative marketplace must persuade consumers to use another platform and convince developers that listing their products there is worthwhile.
Indus Appstore’s original strategy focused on localized discovery, regional-language support and giving developers additional distribution options.
PhonePe has also pursued partnerships with smartphone manufacturers. In March 2025, the company announced a multi-year partnership with Xiaomi India to bring its marketplace to devices sold in the country. It has also announced partnerships with Motorola and Alcatel.
Moneycontrol reported that the marketplace had been pre-installed on more than 200 million smartphones. This gives PhonePe a potential distribution advantage, although pre-installation does not necessarily mean that every user actively uses the service.
The broader digital marketplace could add another reason for consumers to engage with the platform. App discovery may attract users initially, while vouchers and digital gift cards could encourage repeat visits.
Competition will still depend on the depth of the product catalogue, pricing, convenience, security and the value offered to both consumers and developers.
What This Means for App Developers
For developers, the rebranding could bring both opportunities and questions.
An app marketplace connected to a wider digital-commerce platform may offer additional ways to reach users. More frequent consumer visits could improve opportunities for app discovery, while future digital-product features might create additional monetization options.
Indus Appstore previously positioned itself as a developer-friendly alternative, emphasizing localization and allowing developers to choose third-party payment gateways for in-app billing. Its February 2024 launch announcement also highlighted a zero-commission approach for transactions using external payment gateways.
The expansion does not automatically mean that every developer will receive new revenue opportunities. Developers will need clarity on listing terms, advertising options, payment arrangements, analytics and how apps will be promoted within the new marketplace.
For smaller Indian developers, the key question is whether PhonePe Appstore can translate its distribution reach into meaningful downloads and sustained engagement.
What Challenges Could Affect the Expansion?
A broader marketplace introduces operational challenges beyond those involved in distributing applications.
Consumer trust: Users need confidence that gift cards and vouchers are authentic, clearly priced and supported by reliable redemption processes.
Competition: Consumers already purchase digital products through brand websites, e-commerce platforms and other payment applications. PhonePe must offer a clear reason to choose its marketplace.
Product quality: Failed redemptions, confusing terms or limited product availability could undermine repeat usage.
Developer relationships: The company will need to maintain attractive distribution and monetization terms while expanding into new product categories.
Execution: A larger catalogue does not automatically translate into revenue. Product discovery, pricing, customer support and repeat purchases will determine whether the new marketplace becomes a meaningful business.
The company will also need to communicate which features are available immediately and which remain planned additions, so users and developers understand what the rebranded service currently offers.
The Bigger Picture
PhonePe’s decision to expand Indus Appstore reflects a wider trend among Indian digital platforms: building ecosystems that combine payments, commerce, financial services and digital distribution. Instead of relying on one primary product, companies are seeking more ways to serve customers across different parts of their online lives.
For PhonePe, the marketplace offers a potential bridge between app distribution and digital purchases. Its existing brand recognition and smartphone partnerships may help it reach consumers, but success will depend on whether the expanded service offers enough convenience and value to change user behavior.
The rebranding is therefore more than a change of name. It represents an attempt to broaden the platform’s role in India’s digital economy. Whether it becomes a significant growth engine will depend on adoption, commercial execution and the strength of its partnerships with developers and consumer brands.
FAQs
1. What is Indus Appstore being renamed?
PhonePe is rebranding Indus Appstore as PhonePe Appstore, while expanding the platform beyond app and game discovery.
2. What new services does PhonePe Appstore offer?
Moneycontrol reported that the expanded marketplace allows users to buy digital gift cards and vouchers across categories such as shopping, travel, gaming, health and fitness, food, and lifestyle.
3. Which brands are available on PhonePe Appstore?
Reported examples include Steam, Uber, Blinkit, Roblox, BigBasket, Cleartrip, IKEA and District. Availability and product terms may vary.
4. Why is PhonePe expanding Indus Appstore?
The expansion could help PhonePe increase engagement, add digital-commerce opportunities and build businesses beyond its core payments platform.
5. Is PhonePe Appstore an alternative to Google Play?
Yes. Its original role as an Android app marketplace positioned it as an alternative to Google Play. The new strategy broadens that role by adding digital products such as gift cards and vouchers.
Looking Ahead
PhonePe’s next challenge will be converting the marketplace’s distribution reach into regular usage and repeat purchases. The availability of recognizable brands could attract customers, but the quality of offers, ease of redemption and reliability of customer support will be important in determining whether they return.
The expansion also gives PhonePe another avenue to diversify its business ahead of a potential public listing. Investors and industry observers will be watching for clearer information on adoption, monetization and the role PhonePe Appstore will play alongside payments, investments and other services in the company’s long-term strategy.
Get the day’s top stories in your inbox
One concise email. No spam, unsubscribe anytime.
