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PhonePe crosses 1 billion transactions, has 100 million users

PhonePe

PhonePe has crossed 1 billion digital payments transactions on its mobile app ever since its launch in August 2016.

User metrics

  • Crossed 1 billion transactions
  • PhonePe crossed 100 million users in June
  • Annual total payments value (TPV) run rate stands at $38 billion
  • 450,000 online and offline listed merchants, as compared to 300,000 as of 31 October
  • Claims “rapid” adoption in Tier 2 and even Tier 3 cities, competitor Paytm also claims to have garnered mass users in Tier 2 cities
  • NPCI reported 235.6 million UPI transactions in July 2018, PhonePe claimed 40% which was the largest share of UPI market
  • Claimed 150 million app installations as of October

Additionally, it claims that all 29 states and 7 Union Territories used PhonePe during parent Flipkart’s Big Billion Days this year. In October, PhonePe said it saw a 150% growth in transactions during the sale, it processed transactions worth Rs 100 crore in a day. It said that 55% of all transactions were via UPI.

YES Bank, which is the partner for PhonePe’s UPI service, said it processed 290 million UPI transactions in Q2 2018 (between July-September).

Micro-apps within PhonePe

  • In-app room bookings on Oyo
  • In-app hotels and flight booking on Goibibo, existing arrangement with parent company MakeMyTrip
  • In-app cab booking on Ola, with AutoPay feature
  • In-app usage of Redbus
  • Enabled Delhi Metro SmartCard recharges via the app, according to a statement

Written By

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MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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