PhonePe, one of India’s leading digital payments platform announced it has digitised 25 million small merchants and Kirana stores in India. The company also said it has offline merchant transactions on its platform have shown 200 percent growth since last year.
PhonePe in a media release attributed this phenomenal growth to the rapid expansion it has seen in offline merchant acceptance across geographies with help of 125,000 strong field force who are driving the merchant acceptance across India.
PhonePe’s current network comprises across 15,700 towns and villages, constituting 99 percent pin codes across the country. It said it has achieved the set target of 25 million merchants by end of 2021.
Sameer Nigam, Founder & CEO, PhonePe said, “PhonePe has emerged as India’s largest digital payments platform, and we are leading the industry on all key metrics which includes value and volume of transactions, registered users as well as merchant coverage. Earlier this year we undertook the target of digitizing over 25Mn kiranas across India, and we have achieved this milestone in record time, due to our relentless focus in making payments accessible to the last mile, and our strong execution capabilities.”