- August 30, 2023
Indian payments app PhonePe has entered the stock broking industry with the launch of Share.Market.
This new venture is operated under its subsidiary, PhonePe Wealth Broking Pvt. Ltd., the company said in a Wednesday ...
- August 18, 2023
The jousting between Amazon and Walmart for eyeballs browsing market places, and share of digital wallet for consumer spending, is finding an evolving battleground in India.
Recent comments on earnings calls ...
- August 16, 2023
Walmart has announced major leadership changes within the company, with Judith McKenna, the president and CEO of Walmart International, set to retire after 27 years with the retailer.
Effective Sept. 11, Kath McLay will ...
- July 5, 2023
Walmart’s Flipkart is reportedly entering the lending sector as it battles Amazon for India’s consumers.
The eCommerce site has begun offering customers personal loans through a partnership with Axis Bank, per ...
- June 25, 2023
Amazon intends to invest $26 billion in India by 2030 amid increasing competition with Walmart.
As Reuters reported Saturday (June 24), the company made that announcement after CEO Andy Jassy met with Indian Prime Minister Narendra Modi ...
- June 15, 2023
Could Walmart’s Indian eCommerce and payments operations become $100 billion businesses?
The retailer’s chief financial officer seems to think so, Reuters reported Wednesday (June 14).
The businesses in question — eCommerce platform ...
- April 4, 2023
Payments platform PhonePe has launched an eCommerce app built on India’s ONDC network.
The new Pincode app launched Tuesday (April 4) in Bengalaru and will expand to other cities soon, PhonePe ...
- March 19, 2023
India’s FinTech platform PhonePe has raised another $200 million, this time with the help of Walmart.
The funding, announced Friday (March 17), comes one month after the company announced it had ...
- February 14, 2023
India’s PhonePe is closer to realizing its super app ambitions after raising $100 million.
The Walmart-backed payments platform announced the round Tuesday (Feb. 14), which values it at $12 billion and ...
- February 7, 2023
PhonePe is now enabling cross-border Unified Payments Interface (UPI) payments in select countries.
With this support for UPI international payments, PhonePe’s Indian users can pay foreign merchants instantly when traveling abroad, ...
- December 23, 2022
India-based eCommerce platform Flipkart has parted ways with the digital payments platform PhonePe.
The companies announced the severing of their ownership in a Friday (Dec. 23) press release, stating the decision was ...
- December 8, 2022
PhonePe reportedly hopes to raise $1 billion as it tries to become a super app.
The payments company — owned by the eCommerce firm Flipkart, which is itself owned by Walmart ...
- October 21, 2022
India-based FinTech PhonePe is reportedly in talks to start a new funding round to further its aim of building a financial services super app.
The round would be led by global ...
- August 17, 2022
In the eCommerce war between Amazon and Walmart, global in scope, India looms as a key battleground — especially for the last mile which ultimately will decide the victor.
India, after ...
- May 19, 2022
In today’s FinTech news, SmartCash Payment Service Bank, a unit of Airtel Africa, brings digital financial services to Nigeria, while OPay and Mastercard partner to boost financial inclusion. Plus, Walmart-owned ...
- May 19, 2022
PhonePe is stepping up the competition in India and trying to further take on Google and Amazon with the acquisition of wealth management firms WealthDesk and OpenQ, according to multiple ...
- December 22, 2021
Indian InsurTech Edelweiss General Insurance (EGI) recently partnered with digital payments platform PhonePe to offer digital motor insurance products.
PhonePe customers can now buy EGI’s motor insurance policy with no paperwork ...
- April 23, 2021
In today’s top news, bitcoin fell below $50,000 for the first time in weeks, and Square launched new inventory management tools for retailers. Plus, Vivid Seats, the online ticket reseller, ...
- April 23, 2021
There’s nothing like a shock to the system to break through inertia and motivate necessary change. The rise of the digital-first economy during the past year is a testament to ...
- December 3, 2020
In today’s top news, Flipkart is planning to sell a percentage of its payments arm PhonePe, and Starboard wants to see ACI Worldwide put itself up for sale. Plus, Ant ...
- December 3, 2020
Walmart-owned Indian eCommerce business Flipkart is planning to sell off a percentage of its digital payments division PhonePe in an effort to facilitate funding for expansion.
Chief executive officer of PhonePe Sameer ...
- November 19, 2020
The cash on delivery model in India is starting to change as more Indian consumers embrace digital alternatives amid the pandemic, says Karthik Raghupathy, head of strategy for digital wallet ...
- November 18, 2020
Companies that are looking to launch offices in more countries and serve customers in new markets need to be able to easily pay staff in those locations. The economic downturn ...
- November 3, 2020
In today’s top payments news around the world, Ocado is bolstering its automation push by buying two robotics companies, while the International Monetary Fund (IMF) is calling for the Group of ...
- November 2, 2020
Walmart-owned PhonePe, a digital payment provider, continues to reel in new customers in India, where it now has 250 million users.
PhonePe “reached a big milestone and also broke a few ...
- August 10, 2020
Google Pay and PhonePe, digital payment providers, are collaborating with the National Payments Corporation of India (NPCI) to offer recurring payments, Moneycontrol.com reported, citing banking sources.
The deal will enable customers ...
- March 9, 2020
Google Pay, the leader in India’s instant real-time payment system Unified Payments Interface (UPI), temporarily turned off its app’s “check account balance” feature during PhonePe’s outage.
PhonePe’s users experienced an extended ...
- March 6, 2020
For digital payments, for eCommerce, when a bank gets interrupted … the impact is instantaneous and disruptive.
To get a sense of the ripple effects, in India, tens of millions of ...
- February 5, 2020
Indian payments and banking technology company Cashfree has launched a Unified Payment Interface (UPI) stack with more than 15 integrations for businesses’ payment needs, according to a press release.
The new ...
- November 25, 2019
India’s mobile payments startup Paytm said on Monday (Nov. 25) that it secured $1 billion in new funds from Japan’s SoftBank and China’s Alibaba affiliate Ant, The New York Times ...
- November 11, 2019
FinTech investment in India proceeds apace through the last few weeks of the year, with funding rounds extended to digital payments firms and digital lenders.
To that end, the total invested, ...
- October 11, 2019
Global retail giant Walmart has plans to spin off India’s PhonePe from Flipkart and create a separate entity, the Economic Times reported on Friday (Oct. 11).
Online Indian retailer Flipkart, of ...
- September 6, 2019
The payment arm of Flipkart, PhonePe, has been valued at $7 billion by Morgan Stanley, according to reports.
The news is good for Walmart, which owns a majority portion of Flipkart. ...
- April 15, 2019
Welcome to The Axis, your late look at payments news from around the world. Coverage includes the tie-up of Rapyd and OCBC Bank for real-time payments for shoppers in Singapore as ...
- August 8, 2018
Flipkart, the India eCommerce player, has reportedly invested ₹452 crore ($66 million USD) into PhonePe, its payments unit.
According to a report in DealStreetAsia, the investment comes as PhonePe is in ...
