In a significant milestone for India’s digital payments ecosystem, PhonePe has expanded its user base to a massive scale, reflecting the growing adoption of fintech services across the country.
PhonePe announced that it has crossed 700 million registered users on its platform as of April 29, 2026. In a press release, the company said, “this milestone highlights PhonePe’s population-scale reach in India and the breadth of its digital platform offerings across payments and financial services distribution”.
The company added that “it also reflects the company’s sustained growth, driven by increasing consumer trust, market-leading distribution network, and a continued focus on building reliable and intuitive digital payment experiences”.
Sharing insights into its growth journey, PhonePe revealed that it took 136 days to reach its first 1 million users. Today, the platform is adding the same number of users every 6 days, showing a sharp acceleration in adoption.
Between Fiscal Year 2023 and Fiscal Year 2025, the company maintained a strong annual growth rate (CAGR) of 56.25%, underlining its rapid expansion in the digital payments space.
Commenting on the achievement, Sameer Nigam, Founder and CEO of PhonePe, said, “Crossing 700 million life-till-date registered users is a significant moment in our journey and speaks of the trust that users across the country have placed in us. What is equally exciting is the pace at which we are growing today, which reflects the increasing relevance of digital payments in everyday life. As we move forward, our focus remains on building products that are simple, secure, and accessible to all, while continuing to contribute to India’s digital economy.”
The milestone highlights the rising importance of digital transactions in everyday life and PhonePe’s role in driving financial inclusion at scale.
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