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

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.

Important takeaways for all competitive exams:

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

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