While the digital payments players in India throng for online transaction share, bringing offline merchants on their platform has also played a significant role where Paytm and PhonePe lead the show.
One of the early adopters of UPI and QR code-based payments system, PhonePe has been very aggressive in terms of luring offline merchants to bring into its payment mode.
Now the Flipkart-owned company has claimed to process 2 million transactions via its offline organised outlets and aims to reach 10 million figure by December, this year.
Further, the company claims that it has witnessed a 20X growth in the past six months as far as the offline transaction is concerned.
The development comes at a time when media reports claim that PhonePe may discontinue the plan of deployment of its PoS device which it launched in October, last year. However, the company has denied such reports and now it is planning to deploy an additional 50,000 PoS device by the end of this month.
To assist its merchant ecosystem, it had recently acquired a customer-focused point of sale (PoS) company Zopper Retail.
With 100 million overall users, PhonePe claims about 3,00,000 merchants on its platform. The company has partnered with major National chains across all retail categories including Mother Dairy, Spencer’s, Apollo Pharmacy, Medplus, McDonald’s, and others.
PhonePe is also rolling out its payment solutions across IOCL and HPCL outlets nationally after a successful pilot, revealed the company’s press statement.
The company’s arch-rival in this space Paytm claims to have over 8.5 million offline merchants on its platform. However, it has not revealed offline transaction details yet.
Besides, another digital payments player Google Pay is also piloting Google Pay merchant mode in Bengaluru and Delhi to bring more small merchants online.