PhonePe launches one-click Visa payments with PG Bolt

PhonePe has launched PG Bolt, a feature that enables one-click payments for Visa and Mastercard cardholders using device tokenization.

The new product allows users to save their card details for use across merchants integrated with the PhonePe payment gateway, removing the need to re-enter card information for each transaction.

PG Bolt keeps users within the merchant’s app and eliminates CVV entry for repeat transactions on the same device.

PhonePe reported a 40.5% rise in revenue to 7,114 crore rupees (US$788,82 billion) for FY25, with net losses narrowing to 1,727 crore rupees (US$191,49 billion).

🔗 Source: YourStory

🧠 Food for thought

Implications, context, and why it matters.

Device tokenization can reduce one-time password (OTP) friction, but Reserve Bank of India (RBI) rules from April 2026 still require two-factor authentication for domestic digital payments (with exemptions)

PG Bolt offers a one-click flow that binds cards to the device 1. A unique token replaces card data and ties to the user’s phone. It sits in the merchant app or gateway for later use, which skips card re-entry.
RBI will require two-factor authentication (2FA) for domestic digital payments starting April 2026 with at least one dynamic factor 2. Tokenization maps to the “something you have” element, while card-not-present payments (online buys where the card isn’t tapped or swiped) need biometrics or device-native checks 2.
RBI allows risk-based checks and small contactless waivers up to ₹5,000 3. It backs a shift from SMS OTPs to app tokens or device biometrics 3.

Payment gateways can stand out with checkout tools that optimize tokenized flows

Online sellers juggle tokenized payments across providers 4 5. Razorpay (an India-based payment gateway) supports 100+ methods with fraud checks 4.
Payment orchestration tools (software that coordinates multiple gateways behind a single checkout) add a middleware unit (a connective layer) 5. Teams run A/B tests (compares two versions) on Card Verification Value (CVV)-free tokens versus 2FA 5. The system routes to the best processor, then launches a fallback if checks fail 5.
Global ecommerce hit $6.4 trillion in 2025, and payment failures caused 18% of cart drop-offs 4. Checkout tools that help merchants adopt device tokenization while staying RBI-compliant lift conversions without loosening security 6.