Accordingly PhonePe, who claim to be India’s fastest growing payments platform, on Friday, announced that it has grown its offline merchant base to over 1 million. Presently this milestone has been achieved in less than a year and reflects on the platform’s phenomenal acceptance across both large organized retail stores as well as small and mid size retail stores in the country. Furthermore 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, PhonePe wallet as well as external wallets.
Yuvraj Singh Shekhawat, Head Offline Organized Business, PhonePe, said, “Our offline business has shown phenomenal growth in barely a year and we are very thrilled to have reached the 1 million mark and the entire payments process using PhonePe solutions is simple, fast and plans to grow offline merchant number to 6 million by December 2019.”
Moreover Vivek Lohcheb, Head Unorganized Business added, “PhonePe's QR solution allows merchants to accept consumer payments from any UPI app and not just PhonePe and is also helping these merchants by providing them visibility on our app allowing our 150 million users to discover all the retailers and merchants in their vicinity that accept PhonePe, effectively increasing footfalls to their business.”
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