Dive into the tech & future
PhonePe, an India-based fintech and payments company, has announced a $100 million investment in primary capital from Ribbit Capital, Tiger Global, and TVS Capital Funds at a pre-money valuation of $12 billion. This latest funding comes on the heels of a primary fundraiser of $350 million finalised on January 19th, 2023.Within just six weeks, the … Read more
PhonePe, India’s largest digital payment company, has announced that it has launched support for ‘UPI international’ payments. This feature allows PhonePe’s Indian users traveling abroad to instantly pay foreign merchants using UPI. The current launch supports all international merchant outlets in UAE, Singapore, Nepal and Bhutan that have a local QR code. Users will be … Read more
PhonePe has introduced ‘UPI International,’ a facility with which PhonePe users travelling to international destinations can pay foreign merchants via UPI, and in the currency of that country. With ‘UPI International,’ PhonePe, the most widely used UPI app in India, has become the first Indian fintech company to enable payments abroad. Also Read: Non-resident Indians … Read more
Private equity firms Accel and Tiger Global, two early backers of Indian e-commerce firm Flipkart, are in talks to sell their remaining stake in the company to parent Walmart for about $1.5 billion (roughly Rs. 12,235 crore), the Economic Times reported on Thursday. The stake, which collectively amounts to about 5 percent, would raise Walmart‘s … Read more
Walmart late on Wednesday confirmed that it had already paid the Indian government most of the nearly $1 billion (roughly Rs. 8,300 crore) in tax owed after digital payments company PhonePe, which the US retailer owns through Flipkart, shifted its headquarters from Singapore to India. Walmart bought a controlling stake in Indian e-commerce giant Flipkart in … Read more
Flipkart and PhonePe are ‘parting ways’. Flipkart has completely separated its business operations from Phone’s, the two entities announced, saying that the move would allow both to chart their own growth paths. PhonePe Group was acquired by Flipkart Group in 2016. “We are confident PhonePe will continue to scale and achieve its vision of providing … Read more
Introduction You can now quickly send money to friends or family, and even make online payments using multiple UPI apps. In addition to sending money and making payments, there are various other benefits such as splitting bills with a group. This handy feature is available on Google Pay, Paytm and PhonePe. Bill splitting feature on … Read more
Vinay Choletti, head of WhatsApp’s India payment business, has quit the firm within four months in the role, marking the latest in a series of domestic senior-level departures at parent company Meta Platform. “As I move on to my next adventure, I strongly believe that WhatsApp has the power to phenomenally transform digital payments and financial … Read more