Categories: Business

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.

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

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.