PhonePe breaches 250-mn user mark; logs 925 mn transactions in October

Walmart-owned digital payments firm hits $277-billion annual TPV run-rate

At a time when Unified Payments Interface (UPI) transactions surpassed the 2 billion mark in October,  digital payments firms PhonePe and Paytm have also crossed new milestones.

Walmart-owned digital payments firm PhonePe said it has crossed the 250 million registered user milestone. The company reported over 100 million monthly active users (MAU) and 2.3 billion app sessions in October 2020.

PhonePe had a record month in October, processing 925 million transactions, its highest so far, with an annual total payment volume (TPV) run rate of $277 billion. PhonePe also processed 835 million UPI transactions in October, for a market-leading share