PhonePe eyes 500 mn merchants on ‘Switch’ by year-end

New Delhi, Sep 19 () Flipkart-owned PhonePe is betting big on ‘PhonePe Switch’, which allows users to transact across various food and shopping apps without actually having to download them, to drive growth in transactions and usage on its platform.
The digital payments platform said 51 apps are already live on ‘Switch’ and the company expects this number to touch 500 by December.

“Switch provides a one-click entry point to a world of apps. Users can login to these apps without downloading them. We have 51 apps currently and we expect the number of merchants to touch 500 by year-end,” PhonePe Chief Executive Officer Sameer Nigam told .

He added that Switch facilitated about 3-4 million transactions in July-August and the company is confident of this to rise to 10 million monthly transactions by December.