PhonePe, India’s fastest growing payments platform, today announced that it has grown its offline merchant base to over one million.
This milestone has been achieved in less than a year and reflects on the platform’s phenomenal acceptance across both large organised retail stores as well as small and mid-size retail stores in the country, it said in a release issued here.
Being one of the pioneers in the UPI space, PhonePe enables merchants to accept payments from consumers through multiple instruments like UPI, Credit Cards, Debit Cards, PhonePe wallet as well as external wallets.
Speaking on reaching this milestone, Yuvraj Singh Shekhawat, Head – Offline Organized Business, said, ‘Our offline business has shown phenomenal growth in barely a year and we are very thrilled to have reached the one million mark. The entire payments process using PhonePe solutions is simple, fast and seamless ensuring consumers have a convenient experience and merchants are seeing tremendous value in that. We plan to grow offline merchant number to 6 million by December 2019.’
Vivek Lohcheb, Head – Unorganised Business, added, ‘The year has started on a high and we are glad to have on-boarded 1 million merchants on the platform. PhonePe’s QR solution allows merchants to accept consumer payments from any UPI app and not just PhonePe, ensuring they don’t have to go through the hassle of dealing with multiple partners. We are also helping these merchants by providing them visibility on our app allowing our 150 million users to discover all the retailers and merchants in their vicinity that accept PhonePe, effectively increasing footfalls to their business.'(UNI)
