PhonePe offline merchant base crosses over 10 lakh in one year

Digital payments major PhonePe has announced that it has grown its offline merchant base to over 10 lakh within a year.

Yuvraj Singh Shekhawat, Head - Offline Organized Business, PhonePe, said, "Our offline business has shown phenomenal growth in barely a year and we are very thrilled to have reached the 1 million mark. The entire payments process using PhonePe solutions is simple, fast and seamless ensuring consumers have a convenient experience and merchants are seeing tremendous value in that. We plan to grow offline merchant number to 6 million by December 2019."

It has seen remarkable growth in 2018 in the offline business space across key metros as well as Tier 1, 2 and 3 cities and this growth has been made possible to solutions like ubiquitous QR Code and Billing POS.

Both these solution types are extremely simple and do not require any extensive training for cashiers and/or proprietors.

Vivek Lohcheb, Head - Unorganised Business, PhonePe added, "The year has started on a high and we are glad to have on-boarded 1 million merchants on the platform. PhonePe's QR solution allows merchants to accept consumer payments from any UPI app and not just PhonePe, ensuring they don't have to go through the hassle of dealing with multiple partners. We are also helping these merchants by providing them visibility on our app allowing our 150 million users to discover all the retailers and merchants in their vicinity that accept PhonePe, effectively increasing footfalls to their business."

For those who are not aware, PhonePe enables merchants to accept payments from consumers through multiple instruments like UPI, Credit Cards, Debit Cards, PhonePe wallet as well as external wallets.