PhonePe clocks 600 mn registered users, adds 100 mn in past 16 months

Fintech major PhonePe has clocked 600 million registered users on the platform as the Bengaluru-based company gears up for potential initial public offering (IPO). The company added over 100 million users in the past 16 months when it had announced that the firm had crossed over 500 million registered users on the platform.

The company claims to have a base of over 40 million merchants. It processes over 330 million transactions daily and has recorded an Annualized Total Payment Value (TPV) of over Rs 150 trillion.