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