PhonePe registers 20X growth in payment transactions across offline stores

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:

  1. 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.
  1. PhonePe is contributing 6 to 10% non-cash transactions at large organised chains.
  1. After a successful pilot with IOCL, PhonePe is now rolling out its payment solutions across IOCL and HPCL outlets nationally.
  1. 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.
  1. PhonePe is also deploying an additional 50K POS devices across cities by the end of this month.
  1. The company is also investing in multiple form factors of the POS device based on the needs of specific categories like fuel and diary.
  1. 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.

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