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PhonePe is an Indian digital payments and financial services company best known for its UPI-based payments app. The company was founded in 2015, and its flagship PhonePe digital payments app was launched in August 2016. Over time, PhonePe expanded beyond payments into products such as insurance, lending, wealth-related services, and merchant solutions.
This page compiles verified PhonePe statistics and facts, including users, merchant network scale, transaction volume, and market share context. All figures below are attributed to the original source and, where relevant, include the date/time period referenced.
PhonePe Key Statistics
As of March 2025, PhonePe reported 600 million registered users, a merchant acceptance network of 40+ million merchants, and 330+ million transactions per day, with an annualized total payment value (TPV) of over INR 150 lakh crore.
PhonePe Statistics at a Glance
| Metric | Latest Figure | Period | Source |
|---|---|---|---|
| Registered users | 600 million | March 2025 | PhonePe press release |
| Merchant acceptance network | 40+ million merchants | March 2025 | PhonePe press release |
| Daily transactions processed | 330+ million | March 2025 | PhonePe press release |
| Annualized total payment value (TPV) | Over INR 150 lakh crore | March 2025 | PhonePe press release |
| UPI market share (by volume) | 47.8% | November 2024 | Reuters (citing regulatory data) |
PhonePe Statistics and Facts
PhonePe founded: 2015 (company founded); flagship digital payments app launched in August 2016 (PhonePe)
PhonePe registered users: 500 million registered users (2024); 600 million registered users (March 2025)
PhonePe monthly active users (historical company statement): 200 million monthly active users (2023)
PhonePe merchant acceptance network: 3 million offline merchants (2019); 40+ million merchants (March 2025)
PhonePe transactions processed per day: 100 million per day (2022); 330+ million per day (March 2025)
PhonePe monthly transactions (historical): 2.5 billion per month (2022)
PhonePe annual total payment value (TPV) / run rate: $780 billion annual payments value run rate (2022); over INR 150 lakh crore annualized TPV (March 2025)
PhonePe UPI market share (by volume): 47.8% (November 2024, Reuters citing regulatory data)
PhonePe share of payment apps and wallets in India (historical): 33.4% (2019)
Average transaction size on PhonePe (historical): ₹973 (2019)
Average monthly PhonePe wallet refills (historical): 1.86 (2019)
Number of cities in India with PhonePe merchants (historical): 130 cities (2019)
Amount of funding Flipkart reportedly committed to PhonePe (historical report): $500 million
Estimated value of PhonePe (historical): $5.5 billion (2020)
PhonePe valuation (later reported): $12 billion valuation in 2023 (reported by Reuters in 2026)
Number of PhonePe employees (historical): 2,500 employees (2021)
PhonePe Milestones Timeline
- 2015: PhonePe was founded.
- August 2016: PhonePe’s flagship digital payments app launched.
- 2022: PhonePe reported 100 million daily transactions and 2.5 billion monthly transactions (company milestone reporting cited by Financial Express).
- 2024: PhonePe reported 500 million registered users.
- March 2025: PhonePe announced 600 million registered users, 40+ million merchants, and 330+ million daily transactions.
What These PhonePe Statistics Show
PhonePe’s growth illustrates the scale of UPI adoption in India and the company’s position in that ecosystem. The strongest current indicators on this page are the company-reported March 2025 user, merchant, and transaction figures, together with Reuters-reported UPI market share context from regulatory data. Historical figures remain useful for showing how quickly the platform expanded over time.
FAQ
How many users does PhonePe have?
PhonePe announced that it crossed 600 million registered users in March 2025. It had previously reported 500 million registered users in 2024.
How many merchants accept PhonePe?
As of March 2025, PhonePe said its digital payments acceptance network covered 40+ million merchants.
How many transactions does PhonePe process per day?
PhonePe reported processing 330+ million transactions daily as of March 2025. Earlier reporting cited 100 million daily transactions in 2022.
What is PhonePe’s UPI market share?
Reuters reported that PhonePe’s share of UPI payments by volume was 47.8% in November 2024, citing regulatory data.
Sources and References
- PhonePe: PhonePe Crosses 600 Million Registered Users (March 2025)
- PhonePe Blog: PhonePe 2025 – The Year at a Glance
- PhonePe Blog: PhonePe 2023 Recap
- Reuters: India delays UPI payments market share cap (Dec. 31, 2024)
- Reuters: PhonePe gets SEBI approval for IPO (Jan. 20, 2026)
- Financial Express: PhonePe transaction milestone reporting (2022)
- YourStory: PhonePe merchant and city figures (2019)
- Mint: Historical PhonePe app/wallet statistics (2019)
- ET CIO: PhonePe monthly active users reference (2023)
- The Hindu BusinessLine: Flipkart funding commitment report
- TechCrunch: 2020 valuation report
- Times of India: Employee count reference (2021)
