PhonePe Crosses 5 Billion Transactions, Grows 5X in One Year
Digital payments platform PhonePe on Friday announced that it has crossed five billion transactions on its app. Bengaluru-headquartered PhonePe crossed the one-billion transaction milestone in Nov last year and has grown a phenomenal 5 times in just one year, the company said in a statement.
"Our journey over the last iv years has been incredible, non just in terms of the growth of the platform, merely also in realizing the social impact that payments and financial services can create," said Sameer Nigam, Founder and CEO, PhonePe.
The digital payments platform has over 175 million registered users in the land. "We believe the MSME sector is the core engine of the Indian economic system and at that place is a need to create compelling solutions for MSMEs to thrive," he added.
PhonePe is accepted as a payment option across 80 lakh MSMEs in over 215 cities in India and over 56 per cent of its transactions are at present driven by users in Tier Two and III cities.
This yr, PhonePe introduced new use cases to make a customer's experience on its platform more seamless and convenient including 'Switch', which does abroad with the need for downloading multiple apps. Switch allows customers to seamlessly switch betwixt PhonePe and their favourite food, grocery, shopping and travel apps from inside the PhonePe app, with merely a unmarried tap.
The digital platform too has over 150 1000000 bank accounts linked on its platform. It as well has over 56 meg saved credit and debit cards on its platform. PhonePe is accepted at more than 80 lakh merchant outlets.
Source: https://beebom.com/phonepe-crosses-5-billion-transactions-grows-5x-in-one-year/
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