PhonePe Statistics By Earning, Users, Usage, Demographics, Transactions and Facts

Introduction

PhonePe Statistics: PhonePe is one of India’s leading digital payment platforms, allowing users to make secure, instant payments right from their phones. The application was launched in 2015 and has quickly gained popularity due to its easy-to-use app and support for various services, like bill payments, mobile recharges, money transfers, and even shopping.

This article focused strongly on the convenience and security of the PhonePe application. It also analysed its growth pattern and how it served millions of people across the country. It’s integrated with India’s Unified Payments Interface (UPI), making payments seamless and widely accessible. Over the years, PhonePe has expanded to offer financial services, like insurance and mutual funds, making it a go-to app for everyday transactions and financial needs in India. (Source: phonepe.com)

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• As of September 2024, PhonePe has more than 570 million users, representing its wide popularity across India.
• This platform has over 40 million merchants, making digital transactions easy for businesses across India.
• PhonePe Statistics also show that, to date, PhonePe has over 290 million users who use it actively every month for transactions.
• PhonePe’s yearly payment value is USD 1.6 trillion, showing its big role in digital payments.
• This platform also handles more than 215 million daily transactions, showing its importance in India’s digital payments.
• In the third quarter of 2024, PhonePe led India’s Unified Payments Interface (UPI) market, holding a 48.3% market share.
• PhonePe Statistics further state that the revenue grew by 74% in the year ending March 31, 2024, reaching INR 5,064 crore from INR 2,914 crore.
• PhonePe made a profit of INR 197 crore in FY23-24, improving from a loss of INR 738 crore in FY22-23.
• PhonePe’s payments business earned INR 710 crore in FY23-24, up from a loss of INR 194 crore last year.
• PhonePe has grown because it has a trusted platform and various products, which helps it attract users and offer more services.
• This application keeps innovating and expanding its services to stay strong in India’s growing digital payments market.

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General PhonePe Statistics

• In fiscal year 2024, PhonePe’s revenue increased by 74%, reaching Rs 5,064 crore.
• PhonePe handled more than 500 million payments in one month at stores where people shop in person.
• PhonePe’s network includes 25 million merchants in 15,700 towns and villages, covering 99% of Indian postal codes.
• People can also buy pure 24-karat gold using this app, making it easy and secure for gold purchases.
• PhonePe Statistics show that this UPI payment service has helped over 30 million small businesses go digital, making transactions easier and faster.
• PhonePe, Google Pay, and Paytm together handle 96% of all UPI payments in India.
• PhonePe is India’s top UPI app, used by almost half of all UPI users for online payments and transactions.

PhonePe Financial Earning Statistics

(Reference: startuptalky.com)

• As per PhonePe Statistics, in 2024, PhonePe’s operating revenue increased by 74%, reaching INR 5,064 crore, compared to INR 2,914 crore in 2023.
• Total expenses went up by 31%, rising from INR 5,907 crore in 2023 and are supposed to reach around INR 7,756 crore by 2024.
• By the end of this year, PhonePe had cut its losses by 29%, with INR 1,996 crore lost, down from INR 2,795 crore in 2023.

PhonePe User Statistics

• As of September, the platform reported over 570 million registered users, a 14% rise since November 2023.
• By November 2023, PhonePe reported approximately 550 million registered users, marking a 20.5% increase from 2022.
• Moreover, in previous years, PhonePe’s registered users and YoY growth rate were 415 million (18.6%) in 2022, 350 million (16.7%) in 2021, and 300 million in 2020.

UPI Usage Statistics By Indian Platforms

(Reference: statista.com)

• In the third quarter of 2024, PhonePe led India’s Unified Payments Interface (UPI) market, holding a 48.3% market share.
• Furthermore, during the same duration, Google Pay (37%), Paytm (7.82%), and others (6.88%) led the other UPI platform usage share in India.

PhonePe Statistics by Demographics

• In 2024, people aged 25 to 34 made up the highest user share, accounting for 40%, including young PhonePe professionals for various financial transactions.
• Similarly, the other PhonePe users’ share by age group is stated as 30% (18 to 24 years), 20% (35 to 44 years), and 10% (45 years and above).
• PhonePe Statistics also show that about 90% of PhonePe users are Indian, which shows its popularity in India. The remaining 10% are non-Indians.
• Based on income-wise demographics, 50% of users earn between USD 5,000 and 20,000 annually.
• Furthermore, other PhonePe user’s shares by income are 30% (over USD 20,000) and 20% (less than USD 5,000).

 PhonePe Financial Performance by Regions

• PhonePe Statistics show that in March 2024, PhonePe had revenue of about USD 600 million, 33% more than the previous year’s revenue.
• In the same period, North India brought in USD 240 million, making up 40% of total revenue, and maintained a steady 33% growth rate from last year.

Furthermore, the table below elaborates on the other regional financial revenue analysis of PhopePe:

PhonePe Registered Users Q2 2021 – Q3 2023

• In the third quarter of 2023, PhonePe had over 491 million registered users across India.
• PhonePe, a digital payments and financial services company, is headquartered in Bengaluru, India.
• During 2022, the total value of UPI transactions on the PhonePe platform reached 55 trillion Indian rupees.
• This significant volume of transactions highlights PhonePe’s widespread adoption in India, making it a major player in the digital payments landscape.
• As of 2023, the platform continues to experience steady user growth, driven by increasing digital payment adoption across the country.

PhonePe Browser Website Traffic Statistics

(Source: similarweb.com)

• In September 2024, phonepe.com accounted for 18.3 million website visits, a decrease of 1.1 million from last month and a share of (-5.72%).
• Moreover, the website also secured a bounce rate of 61.22%.
• Over the last three months, phonepe.com’s global ranking improved from 4,004 to 3,977.

By Country

(Reference: similarweb.com)

• PhonePe Statistics further represented that in September 2024, India had 98.83% of the website’s total traffic, up by 1.67% from last month, followed by the United States: 0.23% (-12.66%).
• At the same time, other countries recorded the following contributions in total traffic on phonepe.com: United Kingdom: 0.12% (+31.69%), United Arab Emirates: 0.11% (-21.31%), and Singapore: 0.05% (-41.71%).
• In contrast, other countries collectively have secured a website share of 0.66%.

By Demographics

(Reference: similarweb.com)

• In the last month of 2024, male and female users of phonepe.com accounted for 72.2% and 27.8%, respectively.
• Based on age groups, PhonePe Statistics further states that the highest number of website users stands between 25 and 34 years old, with a share of 37.29%.
• 39% of PhonePe website users are from 18 to 24 years old.
• On the other hand, 15.31% and 10.42% of users are 35 to 44 years old and 45 to 54 years old, respectively.
• Around 8.89% of website users are aged from 55 to 64 years.
• 65+ years and above users contributed only 6.71% of shares on phonepe.com.

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By Device

(Source: semrush.com)

• As per PhonePe Statistics in September 2024, around 95% of visits share was generated via mobile, while 15.05% came from desktop on phonepe.com.
• According to Semrush analyses, the website had 24.42 million visits in the same duration, averaging 6 minutes and 03 seconds per session, an increase of 4.03% from August.
• com users make up around 96.9% of the Indian user base, which is 23.67 million. Of these, 13.79% have access to the desktop version, and 86.21% have mobile devices.

By Traffic Source

(Reference: similarweb.com)

• PhonePe Statistics further state that direct searches generated the highest traffic rate to phonepe.com, 50.31%.
• Around 22.63% of the share was generated via organic searches, while 21.21% came from referrals.
• Moreover, others are followed by paid searches (5.68%), social (0.11%), display (0.01%), and mail (0.04%).

By Social Media Referral Statistics

(Reference: similarweb.com)

• On the PhonePe website, WhatsApp and YouTube accounted for the two highest social media referral rates, with a share of 34.03% and 20.03%, respectively.
• Meanwhile, LinkedIn and Facebook each contributed 19.54% and 19.41% to phonepe.com.
• In September 2024, the website’s other social media referral rates were followed by Instagram (2.88%) and others (4.11%).

 PhonePe Transaction Statistics

• As of June 2024, PhonePe’s daily transaction amount was around 270 million, and in December 2023, it averaged over 220 million daily transactions.
• Moreover, as of March 2024, transactions reached 772 crore (7.72 billion), indicating a 158-fold increase over six years.
• PhonePe’s yearly payment value is USD 1.6 trillion, showing its big role in digital payments, up from an annualized TPV of USD 1.4 trillion.

UPI Apps Transaction Trends Analysis

(Reference: thepublive.com)

• In 2024, the UPI transactions dropped by 1% in April to 13.3 billion from 13.44 billion.
• Similarly, The total transaction value dropped 0.7%, from Rs 19.78 trillion in March to Rs 19.64 trillion.
• As of April 2024, PhonePe accounted for 6.5 billion transitions, while others are followed by Google Pay 5 billion, while Paytm dropped from 1.21 to 1.11 billion.
• The transaction volumes of PhonePe in 2024 are January (5.7 billion), February (6.14 billion) and March (6.5 billion).

Conclusion

PhonePe has seen steady growth in its user base from early 2023 to late 2024. Starting with over 465 million users in Q1 2023, it climbed past 570 million by Q3 2024. Thus, the above increase is clearly showing PhonePe’s rising popularity as one of India’s leading digital payment platforms.

The steady addition of users every quarter suggests that more people find its services useful and trustworthy for handling digital transactions. This article on PhonePe Statistics includes the continuous development and a broad reach across the country; PhonePe’s progress reflects a strong position in the digital payments market.

This article on PhonePe Statistics shows that it is becoming a daily tool for many, helping simplify transactions and making digital payments accessible to millions across India.