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  Business   Economy  15 Apr 2019  PhonePe crosses 2 billion transaction mark

PhonePe crosses 2 billion transaction mark

PTI
Published : Apr 15, 2019, 6:33 pm IST
Updated : Apr 15, 2019, 6:33 pm IST

PhonePe has achieved annual run-rate of USD 70 billion on transactions from its platform.

 "As of today we have total payments value (gross transaction value) run-rate of USD 70 billion on annual basis," said PhonePe vice-president for strategy and business development Karthik Raghupathy.

New Delhi: 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.

Tags: phonepe, transactions, digital payments
Location: India, Delhi, New Delhi