Chennai: Money transfers and merchant payments each hit a new milestone of 200+ crore transactions in Q3 2021, said the digital payment trends for the third quarter of 2021, released by PhonePe.
The new data shared on the Pulse website, and as part of the Pulse quarterly report, shows the tremendous pace at which digital payments continued to grow in Q3 2021.
The Total Payments Value (TPV) of transactions processed grew 23.3 per cent QoQ to Rs 921,674 crore while the number of transactions grew by 33.6 per cent to 526.5 crore transactions.
The continued growth in both these metrics is a clear indication of increasing consumer trust in digital payments, it said.