Cash­ing in on dig­i­tal pay­ments

Hindustan Times (Lucknow) - - Business -

100 mil­lion

Num­ber of users PhonePe crossed in June 2018

$75 mil­lion

In­fused by Flip­kart in PhonePe af­ter it ac­quired the mo­bile pay­ments busi­ness in April 2016

1 bil­lion

Num­ber of trans­ac­tions on the app by De­cem­ber

$500 mil­lion

Com­mit­ment made by Flip­kart to ex­pand PhonePe

$175 mil­lion

in­vested by Wal­mart in Oc­to­ber as part of the $500 mn com­mit­ment

750,000

Num­ber of off­line and on­line mer­chants across food, travel, gro­ceries and movie ticket seg­ments, among oth­ers, who use PhonePe as a pay­ment op­tion PhonePe has been try­ing to raise funds in­de­pen­dently as it looks to com­pete with arch ri­val Paytm which is backed by SoftBank

The plat­form has been in the process of ex­pand­ing its off­line pres­ence for more than a year now to es­tab­lish it­self as a larger dig­i­tal pay­ments brand across the coun­try Apart from push­ing its QR codes, PhonePe has also been ex­pand­ing its point of sale (POS) ter­mi­nals

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.