PhonePe hits the 250 million user mark in India

We are excited to share that October was a memorable month for us. We reached a big milestone and also broke a few records along the way!

Here are some numbers for October:

Crossed 250 million registered users

100 million monthly active users (MAU)

2.3 billion app sessions

925 million transactions, our highest so far!

Hit an Annual TPV Run-rate of $277Bn.

Processed 835Mn UPI transactions, for a market leading share of over 40%.

Talking about the milestone, Sameer Nigam, our CEO and Founder said, ‘’We are thrilled to have crossed the 250 million user milestone, and are grateful that so many Indians continue to repose their trust in our services. We are on a mission to make digital payments a way of life for every Indian citizen, and our next target is to cross 500 million registered users by Dec 2022. In line with our brand ethos of ‘’Karte Ja. Badhte Ja’’, we continue to launch new & innovative products for every strata of Indian society, as well as enable digital payment acceptance across every merchant in every village and town in India.’’

Digital payments adoption in India has been booming over the last few years and we have led this adoption for customers across age groups, urban and rural areas, and income levels. This phenomenal growth is driven by the best-in-class payment success rates, fastest speed of transactions and an easy-to-use user interface which the PhonePe app offers.

A big thank you to all our customers and partners who made this possible. Here’s to you, India!