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PhonePe registers 20X growth in payment transactions across offline stores

  • PhonePe has seen this growth in a span of just 6 months   
  • The company is investing in multiple form factors of the POS device and QR solutions
  • PhonePe will be deploying an additional 50K POS devices across cities by the end of this month.

Bangalore, September 19th, 2018: PhonePe India’s leading digital payments platform today announced that it has registered a phenomenal 20X growth in payment transactions across offline stores. PhonePe crossed the 2 Million transaction mark last month at its offline organised outlets, and is all set to scale this number to 10 Million by December.

PhonePe has seen a great trajectory of growth in the offline space in the last 3 months. Here are some highlights: 

  1. The company has partnered with major National chains across all retail categories. These include Mother Dairy, Metro Cash & Carry, Spencer’s, Apollo Pharmacy, Medplus, McDonald’s, KFC, Cafe Coffee Day, Pantaloons, Aditya Birla Fashion, Mumbai Metro etc. 
  1. PhonePe is contributing 6 to 10% non-cash transactions at large organised chains. 
  1. After a successful pilot with IOCL, PhonePe is now rolling out its payment solutions across IOCL and HPCL outlets nationally. 
  1. PhonePe’s POS device has shown phenomenal traction in the fuel sector where POS to QR payments are almost 50%. The POS device is now being rolled out at fuel pumps across multiple cities. 
  1. PhonePe is also deploying an additional 50K POS devices across cities by the end of this month.  
  1. The company is also investing in multiple form factors of the POS device based on the needs of specific categories like fuel and diary.  
  1. PhonePe continues to invest in solutions which make payments fast and seamless for consumers and do not require a lot of training for cashiers making their operations easier. The POS device, direct tech integrations with merchants, partnership with Pinelabs and QR solutions are helping us accomplish these objectives. 

About PhonePe: 

Bengaluru-headquartered PhonePe is the fastest growing payments company in India. With over 100 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, datacards, make utility payments and buy gold. PhonePe is accepted as a payment option across 3 lakh offline and online merchant outlets covering food, travel, groceries, movie tickets etc. PhonePe also offers microapps within its platform allowing customers to avail Ola, redBus and Goibibo Hotel services.  

For more details: [email protected]