PhonePe Crosses 2 Billion Transactions on the App

Bengaluru, April 15th, 2019: PhonePe, India’s leading digital payments platform today announced that it has crossed the 2 Billion digital payment transaction mark on the app. This milestone has been driven by PhonePe’s phenomenal growth and acceptance across large and small offline and online merchants across the country. PhonePe is currently accepted at over 3 million merchant outlets across 130 cities in India. PhonePe had crossed the one billion transactions milestone in November 2018, and has doubled this number in under 5 months. 

Karthik Raghupathy, Vice President – Strategy and Business Development, PhonePe said, “We are thrilled to hit the two billion transaction number. This milestone is reflective of our wide merchant acceptance network. Our online and offline merchant transactions have grown 5x in the last 6 months. The payment process using PhonePe is convenient, fast and seamless, and our merchant partners are seeing tremendous value in that. We are confident of growing at a similar pace over the next few years.”  

Vivek Lochcheb, Director- Offline Business, PhonePe added “This year started for us on a very positive note as we hit the 1 million merchant mark in January and we have already tripled our merchant acceptance number to over 3 million merchants across the country. This growth has been fueled by our customized payment solutions for different segments. Small merchants can use the ubiquitous QR Code solution, that just requires a feature phone to get started, while more organised merchants can use our Billing POS Integrated Solutions. Our solutions do not require extensive training for cashiers or proprietors and this has lead to a massive surge in our reach across both urban and rural markets.” 

About PhonePe:

Bengaluru-headquartered PhonePe is the fastest growing digital payments platform in India. With over 150 million users, the PhonePe app drives the highest number of merchant UPI transactions in India. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, make utility payments and buy gold. PhonePe is accepted across 30 lakh merchant outlets nationally. PhonePe also launched its own Apps platform in 2018, and today its customers can place orders on Ola, Myntra, IRCTC, Goibibo, redBus, Oyo, and Treebo etc. directly from within the PhonePe Mobile App. For more details, please visit https://www.phonepe.com or download the PhonePe app.

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