PhonePe crosses 2 billion transaction mark
Digital Payments Firm PhonePe On Monday Said It Has Crossed 2 Billion Transaction Mark And Has Achieved Annual Run-rate Of USD 70 Billion On Transactions From Its Platform.
Digital payments firm PhonePe on Monday said it has crossed 2 billion transaction mark and has achieved annual run-rate of USD 70 billion on transactions from its platform.
“PhonePe is now accepted across more than 3 million merchants. We have 50 million monthly active users now. With this, we have crossed 2 billion transactions since the time we started operations.
“As of today we have total payments value (gross transaction value) run-rate of USD 70 billion on annual basis,” PhonePe vice-president for strategy and business development Karthik Raghupathy told PTI.
He said 75 per cent of transactions on PhonePe are from tier 2-3 cities.
PhonePe had crossed one billion transaction mark in November 2018.
“We had 1 million merchants using PhonePe early this year. Now we have 3 million on board. We expect to reach 6 million merchants in next 2 months,” Raghupathy said.
For all the Latest Business News, Download News Nation Android and iOS Mobile Apps.
More from Business
Take Control Of Your Financial Goals: Apply For A Personal Loan Now
Nihal Dangoria: An Indian Entrepreneur Making a Bright Future For The Real Estate Industry
Data breach incident at Extramarks highlights growing cybersecurity concerns in Indian companies
How is ePayLater empowering retailers across the country
Follow your heart, but don't ignore your mind When it comes to investing