Walmart-owned digital payments firm PhonePe hits $95 bn annual TPV run-rate

The digital payments firm clocks 335 million transactions in July

Walmart-owned digital payments firm PhonePe on Friday said that it has achieved an annual ‘total payment volume’ (TPV)  run-rate of $95 billion while clocking 335 Million transactions in July. The milestone puts PhonePe among the top digital payments companies in the country which includes SoftBank-backed Paytm and Google Pay.

PhonePe’s TPV run-rate has grown nearly 5X in the past year, since crossing the $20 billion mark in June 2018. This growth has come on the back of the exponential expansion of PhonePe’s merchant network, both online and offline, said the company. 

"We are thrilled by the rapid adoption of PhonePe services across