Page 12 - Phonepe

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

PhonePe completes process to move domicile from Singapore to India

All businesses, and entities now owned by and consolidated under PhonePe Pvt Ltd-India

PhonePe opens swanky 50,000 sq ft office in Pune to accommodate 400 people

In addition to the dynamic work spaces, the new office has a 3,000 square feet cafeteria that will serve local and multi-cuisine food for the company's diverse employee base

Top Headlines: 35-50 bps rate hike by MPC; advance tax mop-up rises 17%

The RBI's Monetary Policy Committee (MPC) is likely to lift the policy repo rate by 35-50 basis points (bps) on September 30, according to a Business Standard poll

Walmart-backed PhonePe asks NPCI to extend the volume cap deadline

With this move, NPCI was aiming to reduce the concentration risk in the system and potentially curb the dominance of two large players while ensuring other players also get a chance to grow

Paytm partners PhonePe's parent firm Flipkart for Big Billion Days sale

Digital financial services firm One97 Communications, which owns the Paytm brand, on Thursday announced a collaboration with e-commerce firm Flipkart for its annual festive season sale 'The Big Billion Days' as payments partner. Flipkart, which owns majority stake in Paytm's competitor PhonePe, will host its annual festive season sale between September 23 - 30, 2022. "With this partnership, Paytm is offering exciting cashbacks on payments made through Paytm UPI and Paytm Wallet," Paytm said in a statement. Paytm will offer assured cashback of 10 per cent on all transactions, the Noida-based firm said. "Our association with Flipkart as a payments partner for The Big Billion Days will provide a secure payments experience to millions of shoppers in small cities and towns of India," a Paytm spokesperson said.