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PhonePe crosses 300 million users mark

Digital payments platform PhonePe today announced that it has achieved the milestone of 300 million registered users. The company crossed 12.5 million monthly active users (MAUs) and annual TPV of over $390 billion in May. Its merchant network is also growing rapidly across India, and now has over 20 million offline merchants across 11,000 towns and talukas in India.
PhonePe crossed the 250 million registered users mark in November 2020, and added 50 million registered users in less than 6 months. In March 21, PhonePe became the first to process over a billion UPI transactions in a month, and has been doing over a billion UPI transactions on its platform every month since then.