PhonePe announced that it has grown its offline merchant base to over 1 lakh in Delhi-NCR. This reflects PhonePe’s phenomenal acceptance across large organised retail stores as well as small and mid-size retail stores in the city. 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% of all non-cash transactions. Customers can now transact seamlessly using PhonePe at small Kirana stores as well as large retail outlets. 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. While Delhi is leading the offline expansion for us, we are also seeing tremendous acceptance and growth across other key markets including Bengaluru and Mumbai .”
Vivek Lohcheb, Head – Unorganised Business added, “We are excited to reach this important milestone. PhonePe has always adopted a partnership model with all its merchants and gone beyond being just a payments service provider. PhonePe’s QR allows merchants to accept consumer payments from any UPI app and not just PhonePe alone. The PhonePe QR solution thus allows the merchants to just put up 1 QR for facilitating UPI payments instead of dealing with multiple partners. For the merchants, this will make the digital payment acceptance process simple and the reconciliations seamless. All a merchant needs is a feature phone to get started. Keeping in mind the working capital requirements of our partner merchants, we also ensure that all payment settlements happen instantly so that it doesn’t impact their daily cash flows. We also provide them visibility on our app where over 100 million users can see all the retailers and merchants in the vicinity that accept PhonePe, effectively increasing footfalls to their business.”
Some of the key offline merchants across the city that today accept payments using diverse PhonePe solutions are:
|Groceries||More, Metro Cash &Carry and Modern Bazaar|
|F&B||McDonalds, KFC, Pizza Hut, Chaayos, Sagar Ratna, Nazeer Foods, Biryani Blues and Whole Foods|
|Fuel||IOCL and HPCL|
|Retail||Croma, Pantaloons, Levi’s, Go Colours, Peter England and Van Heusen|
With over 10 Million Monthly transactions in the offline space today, PhonePe has seen phenomenal growth in 2018. PhonePe is expecting this number to grow 4-fold to about 40 million transactions by March 2019.