Press Release

Press Release

PhonePe now accepted at over 10 lakh offline stores in Madhya Pradesh

Company will hire over 100 sales executives to further enhance its merchant network in the state

Bhopal, September 23, 2021: PhonePe, India’s leading digital payments platform today announced that it is now live as a payment option at over 10 lakh offline stores in Madhya Pradesh. These offline stores include large, organized retail shops, small and medium shops and kiranas across Madhya Pradesh. PhonePe has recorded a phenomenal 110% year-on-year growth in its offline store acceptance in the state. PhonePe is currently live at over 2 crore offline shops across the country.

Commenting on this milestone, Vivek Lohcheb, Vice President – Offline Business Development, PhonePe said, “We are delighted to have achieved this milestone. Our wide acceptance network now allows our customers the choice of using digital payment modes like UPI, wallet, credit or debit cards to pay for their daily purchases across their favorite stores. For our merchant partners, the advantage is they can now serve more customers and grow their business with PhonePe. This is also a significant step in helping us move towards our goal of digitizing 2.5 crore offline stores across India and thereby contributing to the vision of a less-cash society. We will be recruiting over 100 more sales executives in the state by December 2021 to support our existing merchant network and also further enhance our presence even in Madhya Pradesh’s remote areas.”

PhonePe has built a comprehensive set of offerings to help offline merchant partners grow their business and attract more customers. One such offering is the ‘Stores’ tab on the PhonePe consumer app which enables a seamless connection between PhonePe’s over 30 crore registered users and offline stores at scale throughout the country. Customers can easily discover a large number of offline shops in their vicinity and either call or chat with store owners to place their orders and shop from the comfort of their homes. Customers can also pay the stores remotely for their purchases using the “Pay Now feature” without needing to scan any QR codes. Additionally, the PhonePe Business app launched specifically for offline merchants helps facilitate end-to-end control over their entire payment process including transaction confirmation, reconciliation and vernacular voice notifications in 9 languages.

About PhonePe:

PhonePe is India’s leading digital payments platform with over 30 crore registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold and make investments. PhonePe forayed into financial services in 2017 with the launch of Gold providing users with a safe and convenient option to buy 24-karat gold securely on its platform. PhonePe has since launched several Mutual Funds and Insurance products like tax-saving funds, liquid funds, international travel insurance, life insurance, and insurance for the COVID-19 pandemic among others. PhonePe is also accepted as a payment option at over 2 crore merchant outlets across India.

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