Home / Companies / News / Walmart's PhonePe crosses 300 mn registered users, merchant network grows

Walmart's PhonePe crosses 300 mn registered users, merchant network grows

The service now has over 20 million offline merchants across 11,000 towns and talukas in India

Premium

PhonePe had crossed the 250-million registered users mark in November 2020, and added another 50 million registered users in less than 6 months.

Peerzada Abrar Bengaluru

2 min read Last Updated : Jun 02 2021 | 6:09 PM IST

Walmart-owned digital payments firm PhonePe said it has crossed the 300 million lifetime registered users milestone. The company reported 125 million monthly active users (MAU) and an annualized TPV (total payment volume) run-rate of over $390 billion in May '21. Its merchant network also continues to grow rapidly across India, and now has over 20 million offline merchants across 11,000 towns and talukas in India.

"We are delighted to have crossed the 300 million registered user mark and remain grateful for the trust that so many Indians continue to repose in us,” said Sameer Nigam, founder and CEO at PhonePe.

PhonePe competes

Topics : PhonePe UPI transactions payments

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in