The PhonePe digital payments app is now present and in use by over 1 million offline Indian merchants. The USP of this development is that it has taken place in litlle under one year in India. For starters, PhonePe App enables merchants to accept payments from consumers through multiple instruments like UPI, Credit Cards, Debit Cards, PhonePe wallet as well as external wallets. The app is said to have grown in even tier-2 and tier-3 regions along with that of the metro cities of India. PhonePe offers multiple channels for merchants to accept payments relatively easily.
The custom solution type varies across store segments wherein:
- Small merchants could make use of the custom QR Code solution, that requires a mere basic feature phone to get started.
- Organized Merchants could also use Billing POS Integrated Solutions
Now, these custom solution types are simple to deploy without requiring special training extensive for cashiers and proprietors. PhonePe also has a merchant app to facilitate an end-to-end control for merchants on the online payment process, including transaction confirmations and reconciliations.
Speaking on PhonePe.com reaching the 1 million offline merchants milestone, Yuvraj Singh Shekhawat, Head – Offline Organized Business, PhonePe, said, “Our offline business has shown phenomenal growth in barely a year and we are very thrilled to have reached the 1 million mark. The entire payments process using PhonePe solutions is simple, fast and seamless ensuring consumers have a convenient experience and merchants are seeing tremendous value in that. We are a plan to grow offline merchant number to 6 million by December 2019.”
Vivek Lohcheb, Head – Unorganised Business, PhonePe added, “PhonePe’s QR solution allows merchants to accept consumer payments from any UPI app and not just PhonePe, ensuring they don’t have to go through the hassle of dealing with multiple partners. We are also helping these merchants by providing them visibility on our Phone Pe app allowing our 150 million users to discover all the retailers and merchants in their vicinity that accept PhonePe, effectively increasing footfalls to their business.”