Jar Witnesses up to 15% Increase in Payment Success Rates

We clearly noticed the distinction in the massive user distribution PhonePe has. So when we started Jar, we were clear that PhonePe had to be with us from day zero.

Nischay A- CEO, Jar

Jar, since its inception in 2021, has emerged as a leader in digital savings with its focus on gold-based savings. Trusted by 1.5Cr + Indians, Jar helps users save in 24K Digital Gold with their Daily Savings feature. Recognising the need for reliable payment solutions, Jar sought a partnership with PhonePe PG. This collaboration aimed to enhance user experience and cater to the diverse needs of Jar’s growing customer base. 

The Challenge: Redefining Reliability and Scale for Millions

Downtime Concerns and Scalability: Amidst Jar’s rapid expansion and ever-increasing user base, frequent downtimes from banking partners proved to be a significant concern. These downtimes not only disrupted the user experience & trust, but also compromised the reliability of Jar’s platform. Thus, they needed a robust payment solution capable of seamlessly handling a large user base, reducing downtime risks, and ensuring consistent service reliability.

Seamless Auto-Pay Execution: For Jar’s daily-saving feature to thrive, it was critical to implement a payment solution capable of executing auto-debits seamlessly. This solution needed to intelligently verify the user’s account balance before triggering the payment, thereby optimising trigger rates. The existing payment gateway lacked this capability, curbing the user experience and potentially disrupting Jar’s growth trajectory.

In a strategic move to enhance its payment solution, Jar partnered with PhonePe Payment Gateway, leveraging PhonePe’s leadership in the UPI space. The decision to integrate PhonePe Payment Gateway was driven by its easy onboarding process, low-code setup, and robust support infrastructure, ensuring easy deployment for Jar.

The PhonePe team has been very responsive throughout. Their turnaround time for every issue that we raised was really good.

Nischay A- CEO, Jar

How Jar Transformed Payments with PhonePe

By integrating with PhonePe Payment Gateway, Jar exponentially reduced downtimes experienced with traditional banking partners. Leveraging PhonePe’s proactive identification of potential downtime periods for payment methods, Jar could proactively avoid transactions with low success probabilities & thus, significantly improving their success rates. 

The collaborative efforts of PhonePe Payment Gateway and Jar’s teams led to the development of personalised features critical to Jar’s business objectives. The implementation of pre-debit notifications for users significantly improved trigger rates for the daily savings feature, ensuring users maintained sufficient balances for successful auto-pay execution.

Additionally, PhonePe Payment Gateway facilitated the implementation of a retry mechanism in case of payment failures, adding to improved trigger rates for Jar. This feature allowed for seamless transaction retries and reduced friction in the payment process.

The Outcome

Referencing the partnership between PhonePe Payment Gateway and Jar, Nischay A- CEO at Jar says, “We worked with the PhonePe PG team to identify & solve every key challenge, and as a result, we observed a significant jump in our success rates. Some things make your life simpler, and PhonePe PG is one of them”