Phonepe claims leadership position with 970 million transactions in February

By

Maverick Martins

Published
Mar 3, 2021

Digital payments platform Phonepe has claimed to be the leader in its segment after processing over 97 crore transactions in February.
 

The company claims to have digitized over 17.5 million merchants till date and attributed the growth to expansion across tier 2 and tier 3 cities. The company had earlier stated that it plans to digitize 25 million kiranas by the end of 2021.
 
“We are delighted to retain our pole position as the top digital payments platform in the country. am very proud to report that Phonepe is leading across all core industry metrics - active users, active merchant, total transactions and TPV (total payments volume),” in a statement said Sameer Nigam, founder and CEO of Phonepe.”

“Phonepe recently crossed the 275-million registered user milestone. It had over 100 million monthly active users generating over 1 billion digital payment transactions in January alone. It is targeting to surpass 500-million registered users by December 2022,” he added.
 
Phonepe, which was recently spun-off from Flipkart, counts 280 million registered users and 110 monthly active users across the country.