PhonePe hits 250 mn user mark, registers 925 mn transactions in October

PhonePe on Monday 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, a statement said.

“PhonePe had a record month in October, processing 925 million transactions – its highest so far – with an annual TPV (total payment volume) run rate of USD 277 billion. PhonePe also processed 835 million UPI transactions in October, for a market leading share of over 40 per cent,” it added.

Sameer Nigam, CEO and founder of PhonePe, said the company has set a target of crossing 500 million registered users by December 2022.