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Business EconomyPosted at: Jan 17 2019 10:00PM


PhonePe’s offline merchant base crosses over 1 lakh in Hyderabad

Hyderabad, Jan 17 (UNI) Bengaluru-based PhonePe, India’s fastest growing payments platform , on Thursday announced that it has grown its offline merchant base to over 1.4 lakh in Andhra Pradesh and Telangana States.

This reflects PhonePe’s phenomenal acceptance across large organised retail stores as well as small and mid-size retail stores in the city, the company claimed in a release here.

Being one of the pioneers in the UPI space, PhonePe enables merchants to accept payments from consumers through multiple instruments like UPI, Credit Cards, Debit Cards and Wallets.

PhonePe also offers multiple solutions which makes it easy for merchants to start accepting digital payments. These include integrated payment solutions, QR codes and POS devices.

Speaking on reaching this milestone, Yuvraj Singh Shekhawat, Head – Offline Organized Business, PhonePe, said, “Our offline business has shown phenomenal traction in the last one year. We are now live at most organised retail outlets across grocery, fuel, medicines and account for 6 -10 per cent of all non-cash transactions.

The entire payments process is extremely fast and seamless ensuring consumers have a convenient experience and shop owners/cashiers do not require extensive training making their operations easier.

Along with Hyderabad, we are also seeing tremendous acceptance and growth across other key markets including Bengaluru, Delhi and Mumbai, the release added.
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