Chennai: PhonePe announced that it has emerged as the largest player on UPI merchant (P2M) transactions capturing over 42 per cent of the overall market share.
The company attributed this growth to the massive adoption it is seeing in Tier 4,5,6 towns and talukas and a deep focus on driving merchant acceptance in these geographies.
Vivek Lohcheb, vice president – offline business development, PhonePe, said, “We are delighted to emerge as leaders in the UPI merchant transactions. Our continuous focus on reliability and ensuring highest transaction success rates is creating a great amount of trust on the platform.”