PhonePe has crossed 50 million lifetime registered merchants on its platform, reflecting continued growth in digital payment adoption and merchant onboarding across the country.
The company’s merchant network now spans over 98 per cent of India’s postal codes, indicating deeper penetration into smaller towns and rural markets.
The milestone marks a shift in PhonePe’s approach from enabling payment acceptance to offering a broader range of financial and business solutions. What began with QR-based payments has evolved into a platform supporting merchant operations through tools such as the PhonePe Business app, along with access to services including loans, SmartSpeakers and POS devices.
The company’s expansion has been supported by a combination of on-ground distribution, channel partnerships and local language support, helping small businesses and kirana stores transition from cash-based transactions to digital systems.
According to Yuvraj Singh Shekhawat, Chief Business Officer – Merchant Business, the platform’s focus remains on expanding access to financial services for merchants, with digital payments acting as an entry point to credit and other formal financial tools.
PhonePe’s merchant ecosystem now includes solutions designed to address both payment acceptance and working capital requirements, positioning the platform as part of the broader infrastructure supporting digital commerce and financial inclusion in India.
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