Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic

    January 23, 2023

    360 ONE acquires Mumbai Angels; announces two new funds with them

    January 23, 2023

    Kotak General Insurance partners with Clootrack to enhance customer centricity

    January 23, 2023
    Facebook Twitter Instagram
    BFSINXT
    Twitter YouTube LinkedIn
    • Banking
      • SME /Wholesale Banking
      • Retail
      • HR
        • Wholesale
      • Rural & Agri
    • NBFC
      • Customer Experience
      • Retail
      • Digital
    • Insurance
      • Life
      • General
      • InsurTech
    • Fintech
      • Payments
      • Lending
      • Wealth/PF
      • Neo-Banking
    • Policy
      • RBI
      • IRDAI
      • SEBI
      • Government
    • Financial Services
      • Securities
      • AMC
    • About us
      • Editorial Team
      • Our Advisory Panel
      • Get In Touch
    BFSINXT
    Home » PhonePe crosses 100 million transactions a day
    Fintech

    PhonePe crosses 100 million transactions a day

    PhonePe processes over 2.5 billion transactions a month at an Annual TPV run rate of $780 billion.
    April 13, 20222 Mins ReadBy editor
    Twitter LinkedIn WhatsApp

    PhonePe on April 13 said it has processed more than 100 million transactions in a single day. It said this single milestone is achieved on the back of the highest end-to-end success rates in the industry.

    It said it currently  processes over 2.5 billion transactions a month at an Annual TPV run rate of $780 billion and is India’s leading Fintech platform. It added that the phenomenal growth comes on the back of rapid traction across Tier 2, Tier 3 cities and beyond. The app has seen digital transactions from over 19,000 pin codes, constituting more than 99% of the country. This remarkable growth is a clear indicator of strong user preference for the platform backed by superior product experience, it added in a statement.

    Rahul Chari, CTO and Co-Founder, PhonePe said in a statement, “This is a big milestone for us and has been achieved by the best-in-class payments success rates, and fastest speed of transactions, backed by a superior product experience. We use technology to predict the likelihood of success of a transaction based on historical behavior, which allows us to  offer 99.99% system uptime.”

    Chari added, “As we continue to work towards building a payments platform for a billion Indians, I would like to acknowledge the commitment and quality of our tech and engineering teams in our success.’’

    Digital Payments PhonePe Transactions
    Previous ArticleICICI Bank signs MoU with GIFT SEZ
    Next Article IRDAI to conduct open house to invite suggestions from regulated entities
    editor

    Related Posts

    PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic

    January 23, 2023

    Jupiter raises Rs 100 crore in venture debt financing from Alteria Capital

    January 7, 2023

    Drivio raises $1 million in seed funding

    December 25, 2022

    PayMate Receives In-Principle Authorization To Operate As A Payment Aggregator From RBI

    December 10, 2022

    Leave A Reply Cancel Reply

    Recent Posts

    • PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic
    • 360 ONE acquires Mumbai Angels; announces two new funds with them
    • Kotak General Insurance partners with Clootrack to enhance customer centricity
    • Upstox partners with ‘Trading View’ to empower traders with simplicity
    • AU Small Finance Bank introduces menstrual leaves for women employees

    Recent Comments

    No comments to show.
    Demo
    NBFC's

    PLANET App by L&T Financial Services Crosses 1.5 Million Downloads

    January 7, 2023

    SIDBI enters Co-lending Space for Unsecured Loans to MSMEs, partners with Ambit Finvest

    December 31, 2022

    Piramal Finance launches ‘Innovation Lab’ in Bengaluru

    December 19, 2022

    Shriram Transport Finance and Shriram City Union Finance are now Shriram Finance, India’s largest retail finance NBFC

    December 5, 2022
    New Policy
    Policy

    GSTN gets included as a Financial Information Provider under Account Aggregator Framework

    November 23, 20220By Bfsinxt Desk

    The RBI said, with a view to facilitate cash flow-based lending to MSMEs, it has been decided to include Goods and Services Tax Network (GSTN) as a Financial Information Provider (FIP) under the Account Aggregator (AA) framework.

    RBI to run Nation-wide Finanical Services Awareness Programme in November 2022

    November 3, 2022

    RBI to soon operationalise CBDC Wholesale (e₹-W) Pilot

    November 1, 2022

    RBI launches दक्ष (DAKSH) – Reserve Bank’s Advanced Supervisory Monitoring System

    October 8, 2022
    • Twitter
    • YouTube

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    BFSINXT
    Twitter YouTube LinkedIn
    © 2023 bfsinxt.com.

    Type above and press Enter to search. Press Esc to cancel.