Transactions on PhonePe grow by five times to five billion

Flipkart-owned digital payment platform, PhonePe said its transactions in 2019  touched five billion, a five-fold rise from 2018.

Published: 15th December 2019 12:04 AM  |   Last Updated: 15th December 2019 10:00 AM   |  A+A-

money, 500 currency, cash

For representational purposes (File Photo | PTI)

By Express News Service

BENGALURU : Flipkart-owned digital payment platform, PhonePe said its transactions in 2019  touched five billion, a five-fold rise from 2018.

PhonePe said the transactions had touched one billion last year.

Increased adoption of digital payments in tier 2, 3 cities coupled with the development of a simpler interface, according to PhonePe helped in achieving the milestone.

Over 56 per cent of the transactions on the platform are now driven by users from beyond the metros. About 80 lakh medium and small-medium enterprises across 215 cities in the country now accept PhonePe as a payment option in the form of recharges, money transfers, bill payments and even in buying gold and investing in mutual funds.

The digital payment platform also introduced a new feature on its app called Switch to do away with the inconvenience of downloading multiple apps.

Switch allows customers to seamlessly switch between PhonePe and their favourite food, grocery, shopping and travel apps from within the PhonePe app, with just a single tap.

Its platform features ‘Stores’, which helps customers discover hyper-local shops in their vicinity.

Customers can pay using their preferred payment modes like UPI, wallet, credit or debit cards at any of these stores.



Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp