PhonePe goes live across over 10 lakh offline shops in Eastern India
Kolkata, February 04, 2020: PhonePe, India’s leading digital payments platform today announced that it is now live as a payment option across 10 lakh offline shops in Eastern India. This milestone reflects PhonePe’s phenomenal acceptance across large organized retail stores as well as small and mid-sized retail stores in the region. The cities in the East with maximum offline store presence for PhonePe include Kolkata, Siliguri, Ranchi, Patna, Bhubaneswar, Cuttack, Dhanbad, Bokaro, Guwahati. PhonePe currently has over 90 lakh offline shops in its network pan India and targets to double this base to 2 crore offline shops by the end of 2020.
Commenting on this milestone, Vivek Lohcheb, Head – Offline Business Development, PhonePe said, “PhonePe is one of India’s largest payments platforms with more than 90 lakh merchants across 300 cities — over 65% of our transactions come from Tier 2 and 3 cities. In line with our endeavour to revolutionise digital payments for both users and merchants, we are excited to reach the 10 lakh merchants milestone in Eastern India, one of the fastest-growing regions for us. We have always adopted a partnership model with all our merchant partners and gone beyond being just a payments service provider. Our interoperable QR codes allow merchants to accept consumer payments from any UPI app and not just PhonePe alone. For the merchants, this makes the digital payment acceptance process simple and reconciliations seamless. All a merchant needs is a feature phone with internet connectivity to get started. We also provide them with visibility on our app where over 18.5 crore users can discover merchants in the vicinity that accept PhonePe, effectively increasing footfalls to their business.”
PhonePe continues to expand into newer geographies enabling even local kiranas to accept payments from consumers through digital payment mediums like UPI, Credit Cards, Debit Cards and Wallets. PhonePe has also introduced a ‘Stores’ tab on the app enabling hyper-local discovery of partner merchants for users. Keeping in mind the daily working capital requirements of merchants PhonePe offers instant settlements along with zero processing fees on UPI transactions. PhonePe has a merchant app as well called “PhonePe for Business” that facilitates end-to-end control on the payment process for merchants including transaction confirmation and reconciliation.
Bengaluru-headquartered PhonePe is the fastest growing digital payment platform in India with over 18.5 crore registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, make utility payments and buy gold. PhonePe is accepted at over 90 lakh merchant outlets across 300 cities nationally. PhonePe also launched its own Switch platform in 2018, and today its customers can place orders on 100 apps including 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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