PhonePe crosses 2 billion digital payment transaction

PhonePe crosses 2 billion digital payment transaction

Agency News

Kolkata, Apr 15 : Digital payments platform PhonePe 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, the company said in a release issued here.
PhonePe is currently accepted at over three million merchant outlets across 130 cities in India. It crossed the one billion transactions milestone in November 2018 and has doubled this number in under five months.

Karthik Raghupathy, Vice-President - Strategy and Business Development, said, “This milestone is reflective of our wide merchant acceptance network. Our online and offline merchant transactions have grown five times in the last six 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, added “This year started for us on a very positive note as we hit the one million merchant mark in January and we have already tripled our merchant acceptance number to over three 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.”