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PhonePe
Fintech major PhonePe on Tuesday said it has crossed 50 million lifetime registered merchants on its platform. The IPO-bound company noted its expansion from offering QR code-based payment solutions to providing a full-stack suite of financial tools, including working capital loans, Point-of-Sale (POS) terminals, and SmartSpeakers. "Reaching 50 million merchants is a significant milestone in our effort to make financial services more accessible to merchants across India. For many of our partners, the journey began with a simple QR code, but that relationship has since matured. Today, digital payments serve as a gateway to a wider range of formal services, including credit," Yuvraj Singh Shekhawat, Chief Business Officer, Merchant Business, PhonePe, said. Launched in 2016, PhonePe has over 65 crore registered users. The latest development comes as the company prepares for its initial public offering (IPO), having recently filed an updated draft red herring prospectus (UDRHP-I) with .
PhonePe on Monday announced it has temporarily deferred its public market listing process due to the current geopolitical conflicts and market volatility and will resume the listing process once there is some stability in global capital markets. Sameer Nigam, PhonePe's CEO said, "We sincerely hope for a swift return to peace in all the affected regions. We remain committed to a public listing in India.
PhonePe has announced the launch of the PhonePe 'RuPay On-The-Go' Card, a National Common Mobility Card (NCMC). This launch is a step towards India's 'One Nation One Card' vision, aimed at digitizing transit payments across India. The PhonePe 'On-The-Go' Card is designed to simplify the user's daily commute by functioning as an all-in-one transit card. It allows for quick, tap-and-pay transactions on all NCMC-enabled services, including metros, buses, trains, tolls, and parking across India in a fully interoperable manner. A key feature is that the cards are issued instantly, enhancing convenience for millions of commuters. The card utilizes a prepaid, stored-value model where balance is stored directly on the card's chip. This model enables true offline contactless payments, allowing commuters to tap-and-pay even in areas with no internet connectivity. Users can load this card with a balance of up to Rs 2,000, with a maximum offline transaction limit of Rs 500. Speaking on the ..
Digital payments giant PhonePe has reported strong revenue growth and sharply narrowing losses over the past three fiscal years, signalling a shift towards sustainable monetisation and operational efficiency, according to its draft red herring prospectus (DRHP). Revenue from operations rose to Rs 71,14.85 crore in FY25 from Rs 2,914.28 crore in FY23, reflecting a compound annual growth rate (CAGR) of 56.25 per cent. According to the company's DRHP, PhonePe is successfully transitioning towards long-term monetisation and operational efficiency. The company's revenue mix has diversified significantly beyond core UPI payments. Merchant Payments contribution increased from 14.75 per cent in FY23 to 30.78 per cent by September 2025. Financial Services, including lending and insurance distribution, expanded from 0.96 per cent in FY23 to 11.55 per cent in the first half of the current fiscal year. Together, merchant payments and financial services accounted for 42 per cent of revenue, .
Walmart-backed PhonePe, which aims to float its initial public offering (IPO) in April, plans to deepen its presence in India's digital payments market while expanding into financial services and new consumer platforms. In its draft papers, the company said digital payments will remain the core driver of growth, supported by investments to expand its user base, addressable market and platform scale. India's total addressable market for digital consumer payments stood at Rs 301 lakh crore in fiscal 2025 and is projected to grow to Rs 602-681 lakh crore by fiscal 2030, the company said, citing industry estimates. According to sources, PhonePe is aiming to launch its IPO in April. The proposed offering will be entirely an offer for sale of 5.06 crore shares by Walmart, Microsoft and Tiger Global, with no fresh issue component. In January, the company received regulatory approval from the Sebi to proceed with its maiden public offering, following its confidential filing in September.
PhonePe shareholders -- Walmart, Tiger Global and Microsoft Global Finance will offload stakes worth around Rs 10,115 crore through the company's forthcoming IPO, according to updated draft papers of the fintech firm. The IPO is entirely an Offer-for-Sale (OFS) by existing shareholders. The company will not be raising any additional primary capital in the Initial Public Offering (IPO). PhonePe promoter WM Digital Commerce Holdings Pte will sell 45,942,496 of 3,71,517,890 shares or about 0.12 per cent stake in the company through the OFS valued at Rs 1,996.8 per share, based on the weighted average cost of acquisition per equity share. Singapore-based WM Digital Commerce Holdings Pte. Ltd is the Walmart-controlled promoter entity of PhonePe. Tiger Global PIP 9-1 will sell 10,39,160 shares, and Microsoft Global Finance Unlimited Company will offload 36,78,790 shares. The total shares to be offloaded through the OFS are valued around Rs 10,115.87 crore based on the weighted-average