PhonePe crosses 2 bn transaction mark
- PTI
- April 16, 2019
New Delhi: Digital payments firm PhonePe 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.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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