Digital payments firm PhonePe crosses 2-bn mark in monthly transactions

PhonePe's phenomenal growth comes on the back of rapid traction across Tier-II, Tier-III cities and beyond

Walmart-owned digital payments firm PhonePe said that it has processed over 2 billion transactions on its platform in October this year. PhonePe is the market leader in UPI transactions, driving the highest number of peer-to-peer(P2P) and merchant transactions in the country. It also has the pole position in Recharge and Bill Payment transactions via Bharat Bill Payment System (BBPS). PhonePe had crossed the 1 billion monthly transaction mark in February this year, and has now hit the 2 billion milestone in just 8 months, cementing its position as India’s leading Fintech platform. PhonePe competes