New Delhi, November 21: Bengaluru-headquartered PhonePe on Wednesday announced that it has crossed 1 billion digital payment transactions on its mobile app.
The fintech company achieved this transaction number within 26 months of its launch.
“A billion transactions is both exciting and humbling, considering the incredible pace at which we have achieved this target, and the immense opportunities lying ahead of us. The growth and adoption of PhonePe has surpassed all our expectations, and we thank all our users for helping us achieve this incredible milestone,” said Sameer Nigam, Co-founder & CEO, PhonePe.
“Fintech and digital payments are one of the most promising industries in India today, and we are delighted to see the pace at which PhonePe is growing, as well as the love it enjoys among users. We remain fully committed to supporting PhonePe in its goal to become the most preferred digital payment app in India, while it innovates to solve complex problems and penetrates deeper into India to support financial inclusion.” said Kalyan Krishnamurthy, CEO, Flipkart.
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Flipkart, is the parent company of PhonePe.
PhonePe has seen rapid acceptance across India including Tier II and III cities as well.
Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, make utility payments and buy gold. PhonePe is accepted as a payment option across 4.5 lakh offline and online merchant outlets covering food, travel, groceries and movie tickets.
