PhonePe reaches 50 million merchants as updated paperwork filed with SEBI
Business
PhonePe just crossed 50 million registered merchants, covering more than 98% of India's PIN codes, including many small towns and rural spots.
This big milestone comes right as the company is preparing for its IPO, with updated paperwork recently filed with the Securities and Exchange Board of India (SEBI).
PhonePe diversifies into POS, loans, insurance
Starting in 2016 with simple QR code payments for small shops, PhonePe has grown into much more: think point-of-sale devices, smart speakers, and even merchant loans.
Their strategy? A strong local sales team and support in multiple languages to help smaller businesses go digital.
Competing with names like Google Pay and Paytm, they're also branching out into insurance services.