PhonePe reports 50 million registered merchants

PhonePe said on 28 April that it had passed 50 million lifetime registered merchants in India. The company also reported coverage across more than 98% of Indian postal codes. Both figures come from PhonePe’s announcement; a lifetime registration count does not say how many merchants transacted during a particular month. The milestone describes the accumulated reach of its merchant platform. PhonePe merchant announcement.

PhonePe traced that expansion to QR acceptance, local-language support and a sales network reaching smaller businesses. Its Business app gives merchants a place to manage payments and opt into services including loans, SmartSpeakers and point-of-sale devices. The company is using its payment relationship as an entry point for a broader range of business tools. The release does not provide a split between merchants using basic acceptance and those adopting the additional products. That leaves the network’s size better documented than the depth of each merchant relationship or the revenue contributed by newer services. PhonePe merchant announcement.