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PhonePe becomes 1st player to cross billion-transaction mark on UPI

Sumit Arora Published On April 5th, 2021 Leave a comment

Bengaluru-based digital payments and financial services company, PhonePe has become the first company to cross one billion transactions on Unified Payments Interface (UPI) infrastructure. The company achieved the feat in March 2021, when the total transactions clocked around 1.3 billion on its platform, across the payment instruments offering of wallet, cards as well as UPI.

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PhonePe, which first achieved market leadership on UPI in December, last year, has seen its transaction count grow steadily, on the back of rising merchant payments. Overall UPI transactions processed by PhonePe grew from 902.03 million in December 2020 to 975.53 million in February 2021.

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CEO of Phonepe: Sameer Nigam
Headquarters location of Phonepe: Bengaluru, Karnataka.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.