PhonePe has announced that it has registered a phenomenal 20X growth in payment transactions across offline stores. PhonePe also crossed the 2 Million transaction mark last month at its offline organised outlets, and is all set to scale up to 10 Million by December.
PhonePe has seen a great trajectory of growth in the offline space in the last 3 months. Here are some highlights:
- The company has partnered with major National chains across all retail categories. These include Mother Dairy, Metro Cash & Carry, Spencer’s, Apollo Pharmacy, Medplus, McDonald’s, KFC, Cafe Coffee Day, Pantaloons, Aditya Birla Fashion, Mumbai Metro etc.
- PhonePe is contributing 6 to 10% non-cash transactions at large organised chains.
- After a successful pilot with IOCL, PhonePe is now rolling out its payment solutions across IOCL and HPCL outlets nationally.
- PhonePe’s POS device has shown phenomenal traction in the fuel sector, where POS and QR payments are almost 50%. The POS device is now being rolled out at fuel pumps across multiple cities.
- PhonePe is also deploying an additional 50K POS devices across cities by the end of this month.
- The company is also investing in multiple form factors of the POS device based on the needs of specific categories like fuel and diary.
- PhonePe continues to invest in solutions which make payments fast and seamless for consumers and do not require a lot of training for cashiers making their operations easier. The POS device, direct tech integrations with merchants, partnership with Pinelabs and QR solutions are helping us accomplish these objectives.