PhonePe, India’s largest digital payments platform by both volume and value, today announced that it has crossed the 300 million lifetime registered users milestone. The company reported 125 million monthly active users (MAU) and an annualized TPV run-rate of over USD $390 billion in May '21. Its merchant network also continues to grow rapidly across India, and now boast of over 20 mn offline merchants across 11,000 towns and talukas in India.