Money & Banking

PhonePe captures over 42% of overall UPI P2M market share

Our Bureau Mumbai | Updated on April 08, 2021

Attributes it to driving merchant acceptance in Tier-4,5,6 towns

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

Published on March 17, 2021

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