Flipkart's digital payments arm PhonePe crosses 100-million user mark

The company had also hit an annualised total payment value run rate of $20 billion in the month of May

Digital payments firm PhonePe now has almost half as many users as its rival Paytm’s mobile wallet service, with the Flipkart-owned firm announcing on Wednesday that it had crossed the 100 million users. The firm also said it had hit an annualised total payment value run rate of $20 billion in the month of May, staking claim to the largest payments player in the country in terms of transaction value.

 “It’s a very proud day for us. We have crossed the 100 million user mark in just 21 months. This is the fastest that any Indian start-up has achieved this