Metric definitions

• App installs

  The total number of times the PhonePe app was installed on mobile devices.

• App opens

  App opens include in-app opens and out-of-app opens. In-app opens are the number of times the PhonePe app was opened by users, and the app's home page loaded successfully. Out-of-app opens are counted when a user initiates a payment, on a merchant's website/app.

• Billpay

  An action of paying a bill online, through the PhonePe app. In the PhonePe context, the number of bill payment transactions would be the total number of successful utility bill payments (e.g. Electricity, internet, telephone bill payments, etc.), net of reversals, made on the PhonePe app.

• CAGR

  Compounded Annual Growth Rate, that is, the total growth % over a period, annualized to a year.

• Category

  The broad need under which a transaction occurs (e.g. utility bill payments, mobile recharges, etc.)

• Customers

  In the context of PhonePe data, this means users that performed at least one transaction on the PhonePe app, within a specific period.

• Digital payments

  Any monetary exchange between a sender and a receiver where the money leaves the sender's bank and arrives directly to the receiver's bank account, executed via a digital instruction given to the sender's bank account.

• Financial services transactions

  The total number of successful payments made by users, net of reversals, to buy financial services on the PhonePe app, as well as the number of successful 'sell' transactions for gold on the PhonePe app.

• Gold customers

  The total number of registered users who made a successful payment to buy gold on PhonePe.

• Merchant transactions

  The total number of successful payments made to merchants, net of reversals, made on the PhonePe app. The merchant can be one that has a purely digital presence (e.g. an e-commerce website), or one that has a physical presence as well (e.g. a supermarket).

• Monthly active users

  The count of unique users who have opened the PhonePe app or initiated a PhonePe payment outside of the PhonePe app, at least once in a month.

• Offline merchants

  Brick-and-mortar outlets that PhonePe has onboarded as merchants, either using QR codes or a collect call as the payment method (e.g. petrol bunks, restaurants, grocery stores, etc.)

• Offline transactions

  A transaction that occurs digitally (without cash being exchanged), but occurs where the sender and the receiver are typically face to face(e.g. A payment made at a kirana by customers using a UPI app such as PhonePe).

• Online merchants

  Merchants with whom PhonePe is integrated as a payment method on their app/website (e.g. e-commerce platforms, food delivery platforms, etc.)

• Online transactions

  A transaction occurring digitally and over the internet, such as paying on an app or a website.

• P2P transactions

  Peer to peer payments, or the total number of successful money transfer transactions, on the UPI framework, wherein the sender transfers money to an existing phone contact, a phone number not stored as a contact, or directly to a bank account number.

• Recharges

  In the context of this report, top up of talk time/buying data packs, by pre-paid mobile users.

• Registered Users

  The number of unique users who downloaded the PhonePe app, and accepted the Terms and Conditions displayed during the onboarding process, within a specific period. The user is identified by his/her mobile phone number - each mobile phone number is treated as a separate/unique user.

• Registered users, by device brand

  Registered users, categorized by the brand of the mobile device they are currently using.

• Transaction

  A payment, wherein a sender sends money to a receiver (can be a contact, a phone number, a merchant, etc.) In the PhonePe context, overall transactions are the total number of successful payments processed by PhonePe, net of payment reversals.

• TPAPs

  TPAPs are Third Party Application Providers, who are service providers participating in the UPI via banks.

• TPV

  Total Payment Value is the total amount/value (in rupees) of transactions processed in a given time period. In the PhonePe context, total payment value is the total value of successful payments processed by PhonePe, net of payment reversals.

• Value of gold purchased

  The total value of successful payments made to purchase gold on the PhonePe app, net of reversals.