PhonePe announced on April 29, 2026, that it has surpassed 700 million life‑to‑date registered users, underscoring its population‑scale reach in India and the breadth of its offerings across payments and financial services. The company highlighted its rapid growth trajectory, noting that while it took 136 days to reach its first million users, it now achieves that milestone every six days. From FY23 to FY25, PhonePe maintained a compound annual growth rate of 56.25%, reflecting consistent expansion even at massive scale. Its growth has been driven by consumer trust, a strong distribution network, and a focus on building secure, intuitive digital payment experiences aligned with India’s rapid digitization.
Founder and CEO Sameer Nigam described the milestone as a significant moment, crediting user trust and the increasing relevance of digital payments in everyday life. He emphasized that PhonePe’s focus remains on building simple, secure, and accessible products while continuing to contribute to India’s digital economy. Looking ahead, the company intends to expand its offerings further and invest in multiple population‑scale digital platforms to strengthen India’s financial services ecosystem.