Page 11 - Phonepe

Flipkart, PhonePe complete separation as fintech firm preps for fundraise

PhonePe in talks with parent Walmart, General Atlantic, and other investors to raise about $700 mn

UPI ecosystem needs to be sustainable to grow further: Google Pay

Hints at the need to make transactions on the platform chargeable

Walmart's payments startup PhonePe seeks to raise $1 billion: Report

The company is in talks with SoftBank Group Corp.'s Vision Fund, an investor in PhonePe's parent entity Flipkart, although Walmart will remain top investor, the people said

Is it the end of WhatsApp's UPI ambition?

The free run for PhonePe and Google Pay is likely to continue, as the 30% market cap mandate will not come into force for another two years. So, what does it mean for new players like WhatsApp?

UPI volume cap deadline extended by 2 yrs in relief for PhonePe, Google Pay

Players wanted five-year extension on the market cap deadline

Flipkart staff may get Rs 5,700 cr in stock buyback scheme in a few weeks

This will be the biggest Esop buyback in tech industry. Flipkart owns over 80% stake in PhonePe and is looking to exit the company. Walmart owns 10% in the Bengaluru-based fintech firm

Flipkart to go for $700 million ESOP buyback during PhonePe funding: Report

The round will readjust Flipkart's valuation from $37.6 billion to $33 billion and PhonePe will have a separate shareholding structure

PhonePe set to acquire fintech start-up ZestMoney for about $300 mn

Deal expected to be closed in two-four weeks, says source

Google Pay, PhonePe, other UPI payment apps may impose transaction limit

UPI payment apps like Google Pay, PhonePe, Paytm, and others may soon impose a limit on the transaction

A step-by-step guide on withdrawing cash from ATM using UPI apps

Withdrawing without debit or credit cards reduces chances of transaction failure due to wrong PINs, or lost or stolen cards; note, however, that very few banks offer UPI-based withdrawals currently

NPCI likely to extend volume cap deadline for existing UPI apps

PhonePe, and Google Pay likely to be the beneficiaries

Walmart-owned PhonePe to enable UPI activation on Aadhaar-based OTP

The Walmart-owned firm said this will now enable several millions of Indians to become a part of the UPI ecosystem seamlessly

Centre to not intervene in deciding deadline for payment platforms' 30% cap

PhonePe and Google Pay approached the National Payments Corporation of India (NPCI) asking for an extension to the December 2022 deadline for at least three years

PhonePe in talks to raise $700 million at $12 billion valuation

Digital payments firm seeking investors' support to scale up operations and compete with rivals

Walmart-backed PhonePe in talks to raise funds at $12 bn valuation: Report

Indian digital payments firm PhonePe is in talks to raise funds in a round led by General Atlantic at a valuation of $12 billion

Walmart's PhonePe investing $200 mn to set up data centres in India

The Bengaluru-based firm is setting up data centres in India at a time when it has completed three steps to move its domicile to India

PhonePe investing $200 million on building data centres: Official

Walmart-owned payment services provider PhonePe on Thursday said it is investing USD 200 million (around Rs 1,661 crore) on building data centres in the country, a top official said on Thursday. The investments are driven by the regulatory insistence on data localisation, which prevents a financial sector entity from storing its data overseas, and other aspects, company's co-founder and chief technology officer Rahul Chari said. Speaking to reporters after the launch of a data centre facility at Navi Mumbai, Chari said PhonePe will be investing USD 200 million on data centres. He said the company has already invested USD 150 million but did not specify a timeline for investing the remaining USD 50 million. Chari said it is beneficial for a company like PhonePe to invest in captive data centres given the data localisation mandate from the regulators and also because of the ease or flexibility of operations it offers as compared to an operating expenses model. Company's co-founder a

PhonePe revenue up 138% to Rs 1,646 cr; losses narrow to Rs 671 cr in FY22

Better revenue was primarily driven by robust growth across all businesses; contribution margin grew to 88% from 84% the previous year

'Brand Aamir' in the soup over ad controversy. Can he bounce back?

Actor facing flak for ad for AU Small Finance Bank; not new to controversy, which could affect brand value, say experts

Flipkart spent $1.1 billion from February to July, shows Walmart filings

The firm has also has been an active investor in the ecosystem and has a portfolio of investments in many companies