Digital payments company PhonePe on Friday said it has crossed 5 billion transactions on its app.
PhonePe had crossed the 1 billion transaction milestone in November 2018, and has grown a phenomenal 5X in the last one year, a statement said.
PhonePe, which is part of Flipkart Group, is accepted as a payment option across 80 lakh MSMEs in over 215 cities in India. Over 56 per cent of its transactions are now driven by users in tier II and III cities.
Sameer Nigam, founder and CEO at PhonePe, said that the company will continue working on solutions that provide best-in-class experience to consumers and merchants alike.