PhonePe Records Over 700 Million Registered Users

The milestone reflects the company’s wide scale reach across India along with the growing adoption of its digital payments and financial services offerings. It also highlights sustained growth supported by rising consumer trust an extensive distribution network and a continued emphasis on delivering reliable and user friendly digital payment experiences.

The pace of expansion has also accelerated significantly over the years. While the company took 136 days to acquire its first million users it now adds a million users in just six days. Between Fiscal Year 2023 and Fiscal Year 2025 PhonePe maintained a compound annual growth rate of 56.25 per cent demonstrating consistent momentum even at scale.

According to PhonePe its growth has been driven by a continued focus on creating a seamless and secure financial services ecosystem. With emphasis on speed reliability and user centric design the platform has consistently evolved to meet the demands of an increasingly digital India.

Commenting on the milestone, 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.”

With digital adoption continuing to rise across India PhonePe plans to further broaden its offerings while investing in a range of population scale digital platforms tailored for Indian consumers.