🐘 India🇮🇳: PhonePe leads the global payments league, surpassing PayPal and Stripe

🐘 India🇮🇳: PhonePe leads the global payments league, surpassing PayPal and Stripe

Despite the evident saturation in the Indian payments market, in 2024 PhonePe became the leading force in the industry with the highest total annual payment value (TPV) of $1.545 trillion.

➡️ The PhonePe app has been operating on the UPI framework since 2016, and in addition to facilitating payments, it is also used for selling insurance products.

➡️ Niche: The company's services are focused on non-metropolitan and rural areas. 85% of its users and merchants are located outside major cities.

➡️ 99% of customers engage in repeat transactions within 30 days, reflecting strong user engagement and loyalty.

➡️ Context: In India, there are 750 million adults with bank accounts and smartphones, but only 350 million are active UPI (Unified Payment Interface) users.

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