PhonePe on Monday announced that it has successfully onboarded 73 electricity boards, both public and private, across 28 states and eight union territories in India. This would enable over 250 million PhonePe users in the country to pay their electricity bills using PhonePe’s platform.
“We have seen massive growth in the adoption of digital payments for electricity bills since we launched the category in 2016. In fact, there has been an over 40% increase in the volume of electricity bill payments in October 2020 over the corresponding period last year,” Ankit Gaur, Director of Business Development, PhonePe said on the occasion.
“It is also heartening to note that over 80% of our customers are in tier-2, 3, 4 cities and beyond indicating the widespread adoption of contactless bill payments,” he added.
Notably, the development comes shortly after the digital payments platform announced that it had crossed the 250 million registered users mark in India. The company also announced that it had over 100 million active users and 2.3 billion app sessions in October 2020.
The company reported a record month in October processing nearly 925 million transactions in the month. It also processed 835 million UPI transactions in the same month.