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With over 42 per cent of the UPI merchant (P2M) transactions, PhonePe said it has emerged as the largest player in the segment.
“PhonePe recently also emerged as the largest digital payments platform processing over 1.07 billion transactions across UPI, wallet, credit and debit cards,” it said in a statement, adding that this is due to the massive adoption it is seeing in Tier-4,5,6 towns and talukas and a deep focus on driving merchant acceptance in these geographies.
PhonePe to tap new revenue streams in financial services, consumer engagement
PhonePe is today accepted across 18 million kiranas in the country, it further said.
“Our leadership in the P2M space is due to an expansion of the market with more merchants using our platform in smaller towns,” said Vivek Lohcheb, Vice-President - Offline Business Development, PhonePe.
PhonePe maintains market leadership in digital payments
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