Page 12 - Phonepe
PhonePe reaches settlement with Affle Global to acquire Indus OS
The acquisition was closed after a months-long legal dispute between PhonePe and AGPL and Ventureast Fund on the valuation of IndusOS, which is alternatively called OSLabs.
 "PhonePe reaches settlement with Affle Global to acquire Indus OS")
Walmart's PhonePe to move headquarters from Singapore to India: Report
Walmart group digital payments firm PhonePe is planning to shift its headquarters from Singapore to India, according to a source privy to the development. Flipkart, the largest shareholder of the firm, will continue to remain headquartered in Singapore and there is no decision to shift its base. When contacted, a PhonePe spokesperson confirmed the development. "We are in the process of moving our registered entity from Singapore to India," the PhonePe spokesperson said. An email query sent to Flipkart elicited no reply. Flipkart had partially spun-off PhonePe in December 2020 to enable the payments firm to access dedicated capital to fund its long-term ambitions over the next three to four years. The e-commerce firm continues to be its biggest shareholder. As per the last fundraise of USD 700 million, about Rs 5,172 crore, PhonePe was valued at USD 5.5 billion. PhonePe had crossed the 250 million registered user milestone, with over 100 million monthly active users (MAU) genera
Decoded: The tizzy over RBI's ban on loading PPIs from credit lines
PPIs are instruments that facilitate the purchase of goods and services, conduct of financial services, enable remittance facilities, etc., against the value stored in them
 "Decoded: The tizzy over RBI's ban on loading PPIs from credit lines")
PhonePe prepping for IPO; seeks valuation of $8 bn-$10 bn: Report
Also, the company has initiated plans to move its registered holding entity from Singapore to India, underlining its 'made in India' credentials.
PhonePe sells over 1 mn two wheeler insurance policies on its platform
Sees over 75% of overall insurance purchases from tier 2 & 3 cities
Digital payments in India projected to reach $10 trn by 2026: Report
Smaller cities have recorded high acceptance of such transactions as cash use declines in country.
Cashing out of Asia
The German group has been completely focused on its European operations at a time when there have been quite a few setbacks
Walmart-owned PhonePe launches UPI SIP for investing in 24K gold
Setting up a gold SIP on PhonePe is a one-time, hassle-free process and all subsequent investments are completely automated
Walmart's PhonePe set to acquire WealthDesk, OpenQ for about $70 mn
PhonePe to acquire WealthDesk and OpenQ for about $50 million and $20 respectively according to the sources. PhonePe has invested over $60 M on acquisitions as per the data analytics platform Tracxn
Dunzo, PhonePe among 24 e-commerce firms joining India's open network
Real-time transactions in retail and food delivery have started in Delhi, Bengaluru, Shillong
 "Dunzo, PhonePe among 24 e-commerce firms joining India's open network")
PhonePe says Northeast region took lead in digital transactions in Q1
Assam witnessed the fastest adoption with over 2.5 lakh merchants in 2022 compared to just 10,000 merchants in 2020, followed by Tripura, Meghalaya, Arunachal Pradesh, Nagaland, Sikkim, and Mizoram
Northeast takes the lead on digitisation: PhonePe Pulse Q1 2022 Data
According to a report by the Ministry of Electronics & Information Technology, UPI has now become the most popular mode of payment
 "Northeast takes the lead on digitisation: PhonePe Pulse Q1 2022 Data")
PhonePe announces cashback offers on gold, silver purchases via its app
Users can buy 24K gold through the app and choose to either accumulate it in bank grade insured lockers with zero hassle of storage or making charges or get delivery in form of gold coins or bars
PhonePe, Affle, seek 'out of court' settlement for Indus OS acquisition
PhonePe had placed a bid to acquire 92 per cent stake in Indus OS at a valuation of around $60 million
PhonePe tops 100 mn transactions a day, does 2.5 bn transactions a month
The app has seen digital transactions from over 19,000 pin codes, constituting more than 99 per cent of the country
NPCI eases cap on WhatsApp payments service to expand to 100 mn users
Regulator granted WhatsApp approval in November 2020 to go live on UPI in the multi-bank model in a graded manner.
 "NPCI eases cap on WhatsApp payments service to expand to 100 mn users")
WhatsApp wins nod to expand Indian payments service to 100 mn users: Report
WhatsApp has over the years told NPCI that there should be no cap on users of its payments service in India, its biggest market
Top court refuses to entertain BharatPe's petition against PhonePe
Last October, PhonePe sought Bombay HC injunction to restrain BharatPe from misusing PhonePe's registered trademarks by using and promoting the marks 'PostPe'/'postpe'
Top headlines: Zomato speaks on CCI probe; India blocks 22 YouTube channels
Business Standard brings you the top headlines on Tuesday
 "Top headlines: Zomato speaks on CCI probe; India blocks 22 YouTube channels")
PhonePe to more than double employee count to 5,400 by December 2022
Digital payments platform PhonePe on Tuesday said it plans to more than double its total employee strength to 5,400 across the country by the end of December 2022 from existing 2,600
