Phonepe plans to help over 25 million merchants go digital
Flipkart-owned marketplace and digital payments platform Phonepe is planning to take on 25 million small merchants across the country on a digital journey in the next one year.
With this initiative, Phonepe plans to strengthen its merchant base by onboarding kiranas (small stores) on its 'PhonePe for Business' app.
The app will offer merchants end-to-end control of the payment process, including instant payment confirmations, receipts, and reconciliations.
Phonepe plans to acquire merchants in over 5,500 talukas across India and claims that the initiative will create over 10,000 jobs.
Commenting on the initiative, Vivek Lohcheb, vice president, offline business development at Phonepe in a statement said: “Kiranas and merchants across small villages and towns are striving to progress and prosper. We are really excited to partner with them on this journey and take digital payments to the last mile of India across every village and town."
Earlier this year, Flipkart had invested $90 million (Rs 664.83 crore) in Phonepe after the entity expanded its grocery deliveries during the lockdown. Phonepe currently has over 230 million registered users and is accepted at over 11 million merchant outlets across 500 cities nationally.
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