Business
PhonePe Says 50 Million Merchants Now Registered on Platform
PhonePe on Tuesday announced that it has crossed 50 million lifetime registered merchants on its platform, marking a major milestone for the IPO-bound fintech major.
The company said it has evolved from offering QR code-based payment solutions to delivering a full-stack suite of financial services for businesses. These include working capital loans, Point-of-Sale (POS) terminals, and SmartSpeakers designed to support merchant operations.
Yuvraj Singh Shekhawat said reaching 50 million merchants reflects the company’s mission to make financial services more accessible across India.
He added that for many merchant partners, the journey began with a simple QR code and has now expanded into access to formal financial products such as credit, with digital payments acting as the gateway.