PhonePe now has 250 million users in India

Bengaluru :  Digital payments platform PhonePe on Monday claimed it has crossed the 250 million registered users in the country. The company also reported over 100 million monthly active users (MAU) and 2.3 billion app sessions in October. “Our next target is to cross 500 million registered users by December 2022,” said Sameer Nigam, CEO and Founder of PhonePe. PhonePe said it processed a record 925 million transactions in the month on October, with an annual TPV (total payment value) run rate of $277 billion. The company also processed 835 Million UPI transactions in October, for a market leading share of over 40 per cent. “We are on a mission to make digital payments a way of life for every Indian citizen,” Nigam added. In August, the digital payments platform said that it will enable digital payments for over 2.5 crore small merchants across India in the next one year. PhonePe is accepted at 13 million merchant outlets across 500 cities.