PhonePe goes live across 5 million offline merchants
We are excited to announce that PhonePe is now accepted as a payment option across 5 million merchant outlets in India. We started this year with 1 million merchants and that number has already grown 5 times in a span of just 6 months.
This growth has been made possible due to the multiple solutions offered by PhonePe which makes it easier for merchants to start accepting digital payments. PhonePe’s QR solution allows merchants to accept consumer payments from any UPI app, ensuring they don’t have to go through the hassle of dealing with multiple apps. We also offer zero processing fee and instant settlements on UPI transactions to merchants ensuring they have access to working capital for their daily requirements.
PhonePe has a merchant app as well that facilitates end-to-end control on the payment process for merchants including transaction confirmation and reconciliation. We are also helping these merchants by providing them visibility on the app allowing our 150 million users to discover all the retailers and merchants in their vicinity that accept PhonePe, effectively increasing footfalls to their business.
We are excited to reach this milestone and are humbled by the trust shown in us by consumers as well as merchant partners. We will continue to expand our reach across the length and breadth of the country, building innovative solutions that make the process of digital payments simple, convenient and hassle-free.