PhonePe Deploys 20 Lakh SmartSpeakers Within 6 Months of Launch

PhonePe today announced that it has deployed a record-high 20 Lakh SmartSpeakers within just six months of launch. The SmartSpeakers help validate customer payments without any intervention.

PhonePe recently secured $350 million funding from General Atlantic, and $100 million in primary capital from Ribbit Capital, Tiger Global and TVS Capital Funds at $12 Billion valuation.

The company said that the speed of audio confirmations has helped build exceptional trust and reliability across over 3.5 Crore merchants on the company’s platform.

PhonePe SmartSpeakers

On an average, PhonePe SmartSpeakers are being used for the validation of more than 75 crore transactions per month, said the company. It added that Merchant partners spread across about 16,000 pin codes in the country are now using the SmartSpeaker, an increase of 75%, with Tier III locations seeing the deployment of more than 5 lakh devices.

The PhonePe SmartSpeakers provide payment notifications in 11 Indian languages, a dedicated replay button for the last transaction, have dedicated data connectivity, promise a best-in-class battery of up to 4 days with a dedicated battery level LED indicator and alerts for low battery level, offer great audio clarity even in the noisiest of environments, and come in compact and versatile form factor.

These allow merchants to use it even in the most congested counter spaces, said the company. By offering such convenience to merchants, PhonePe said that it is seeing the successful adoption of PhonePe’s SmartSpeakers in the market, thus enabling an increase in digital payments.

Speaking on this milestone, Vivek Lohcheb, Head of Offline Business at PhonePe said:

The deployment of over 20 lakh SmartSpeakers across the country in record time is a testimony to PhonePe’s superior execution capabilities. PhonePe has always crafted innovative products and customized offerings to address unique merchant requirements. We are delighted to see our SmartSpeakers being widely accepted across all regions and cities of the country. This strong merchant preference for our SmartSpeakers is due to our device performance, and the trust associated with PhonePe as a brand. As we continue to build for our merchants, we will enhance the hardware and software capabilities of the device to actively benchmark our product in the market.