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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, .
UPI has emerged as the most preferred mode of transaction, surpassing cash transactions, and there is a need for targeted interventions to strengthen RuPay debit card usage, particularly in rural and semi-urban areas, a report said. The Department of Financial Services (DFS), Ministry of Finance, released a report titled "Socio-Economic Impact Analysis of the Incentive Scheme for Promotion of RuPay Debit Card and low-value BHIM-UPI (Person-to-Merchant) transactions" during the Chintan Shivir held on 13-14 February 2026. The socio-economic impact analysis is based on an extensive primary survey covering 10,378 respondents across 15 States, including 6,167 users, 2,199 merchants, and 2,012 service providers, representing the key stakeholders of India's digital payments ecosystem along with in-depth secondary research. The evaluation indicates a significant and sustained increase in the adoption of digital payments across diverse socio-economic segments. Among surveyed users UPI has .
Amazon Pay on Monday said its UPI offering is witnessing widespread adoption across the country with over 100 million customers using the service. Launched in 2019, Amazon Pay UPI has witnessed strong user preference from across big states of Maharashtra, UP, Bihar, West Bengal, Karnataka, the company said in a statement. The 18-24-year age bracket led the adoption of Amazon Pay UPI, it added. "We are humbled and proud that 100M customers have chosen Amazon Pay UPI as their preferred choice of online payment experience. We are excited to continue to innovate and expand our offerings to simplify lives and fulfil aspirations for millions across India," Amazon Pay India CEO Vikas Bansal said. Mobile recharges, utility bill payments and e-commerce transactions were among the top use cases of Amazon Pay UPI, the statement added.