PhonePe clocks 335 million transactions in July
Achieves an annual TPV run-rate of $95 Billion
We are thrilled to share that we achieved an annual TPV (Total payment volume) run-rate of $95 billion while clocking 335 Million transactions in July. Our TPV run-rate has grown nearly 5 times in the past year, since crossing the $20Bn mark in June 2018. This phenomenal growth has been driven by the rapid expansion in our online and offline merchant network.
This year, we have also been aggressively investing in our marketing activities to build awareness around digital payments and UPI. We were the official co-presenting sponsor for the TV broadcast of VIVO IPL 2019 as well as the Official co-presenting sponsor for the TV broadcast of ICC World Cup 2019.
The PhonePe app has seen widespread adoption among Indian consumers. Last month alone, the PhonePe app was used by over 60 million Indians. This means one out of every 15 Indian adults used the PhonePe app in July. This is both exciting and humbling for our company which launched less than 3 years ago.
Going forward, we are committed to building innovative solutions that make the process of digital payments simple, convenient and hassle-free.