New Delhi: PhonePe processed a record two billion transactions in October 2021, the highest ever in a month for the platform. This includes payments made using the Unified Payments Interface and Bharat Bill Payment System.
The Flipkart-owned company is also a leader in NPCI’s Bharat Bill Pay (BBPS) transactions, clocking a 49 percent share of August volumes on the platform, as per the latest data.
PhonePe has seen over 145 million monthly active users, $600 billion in annualized total payments value (TPV) and digital transactions from over 19,000 pin codes, constituting more than 99 percent of the country.
After the first lockdown, PhonePe started gaining further traction and surpassed Google Pay in December 2020 to become the top UPI player in India.
Sameer Nigam, Founder & CEO, PhonePe said, “The fact that 80 percent of our transactions come from Tier II, III cities and beyond, shows that digital payments have truly penetrated across the length and breadth of the country.”
