PhonePe Offline Merchant Network reaches over 1 Million
India’s fastest growing platform, PhonePe declared that it offline merchant network has reached over 1 million in less than a year. This reflects the phenomenal acceptance across both large organized retail stores as well as small & mid-size retail stores in the country. Enabling merchants to accept payments from consumers through multiple instruments lke UPI, Credit cards, Debit cards, PhonePe has successfully become the pioneer in UPI space abd also facilitates PhonePe wallet and external wallets.
On reaching the benchmark. Yuvraj Singh Shekhawat, Head-Office Organized Business, PhonePe, speaks,” Our offline business has shown phenomenal growth in barely a year and we are very thrilled to have reached the 1 million mark. The entire payments process using PhonePe solutions is simple, fast and seamless ensuring consumers have a convenient experience and merchants are seeing tremendous value in that. We plan to grow offline merchant number to 6 million by December 2019.”
The remarkable growth in 2018 in the offline business space across key metros as well as Tier 1, 2 and 3 cities was made possible owing to the multiple convenient solutions being offered by PhonePe, which simplified merchant’s digital payment receiving across store segments. The ubiquitous QR code solution feature was much used. Organized Merchants can use Billing POS Integrated Solutions, the PhonePe solution deployed on Pinelabs devices, QR Code Solution or the PhonePe POS Solution. Both the solution are extremely simple and do not require any extensive training. PhonePe also has a merchant app to facilitate an end-to-end control for merchants on the payment process, including transaction confirmations and reconciliations.
Vivek Lohcheb, Head – Unorganised Business, PhonePe added, “The year has started on a high and we are glad to have on-boarded 1 million merchants on the platform. PhonePe's QR solution allows merchants to accept consumer payments from any UPI app and not just PhonePe, ensuring they don’t have to go through the hassle of dealing with multiple partners. We are also helping these merchants by providing them visibility on our app allowing our 150 million users to discover all the retailers and merchants in their vicinity that accept PhonePe, effectively increasing footfalls to their business.”
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