The company has also accepted of surpassing three million merchant outlets spread across 130 locations in the country, pertaining offline payments.
“Our online and offline merchant transactions have grown 5x in the last 6 months. The payment process using PhonePe is convenient, fast and seamless, and our merchant partners are seeing tremendous value in that. We are confident of growing at a similar pace over the next few years,” said Karthik Raghupathy, vice president, strategy and business development, PhonePe.
PhonePe has successfully tripled the acceptance network by crossing three million merchants within just three months after reporting the one million merchant mark achieved in January this year, Vivek Lochcheb, director of offline business at PhonePe.
The firm primarily targeted on offline payments, both via QR codes for small merchants and integrated PoS billing terminals for organised ones, said Lochcheb.