Digital payments provider PhonePe announced that it has surpassed 350 million lifetime registered users.
In its communique, PhonePe states, this growth suggests that one in four Indians now use PhonePe. The registered user base has increased by 28% from 273 million in January to 350 million in December 2021. The company also reported 150 million monthly active users (MAU) and an annualized total payment value (TPV) of $650 billion in December.
Commenting on the milestone, Sonika Chandra, Head of Consumer Platform & Payments, PhonePe said, “We are delighted to cross the 350 million registered users mark, and emerge as India’s largest digital payments platform across all core metrics. This phenomenal growth is driven by our technology team’s relentless pursuit of delivering the highest end-to-end transaction success rates in the industry, as well as our offline sales efforts in building the largest merchant acceptance network in India. We will continue to push hard on deepening digital payment adoption and merchant acceptance across India.”