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The Maha Kumbh Mela, expected to commence on January 13, 2025, and continue till February 26, 2025, in Prayagraj, Uttar Pradesh
This is the first time in many months that a firm outside the top three has achieved this
The mandate, which was to take effect from the end of 2024, will now kick in at the end of December 2026
At present, the overall user base of PhonePe is over 500 million. Of these, its merchant base is over 40 million
The move will allow the Walmart-backed fintech firm to offer an integrated payment flow-from transaction origination to final settlement-to the merchants it services
At present, the overall user base of PhonePe is over 500 million. Of these, its merchant base is over 40 million
In January this year, Bansal also stepped down from Flipkart's board. He had been on the PhonePe board since 2016, when the Flipkart group acquired the payments firm
Artificial intelligence (AI) has played a pivotal role in enabling PhonePe to streamline operations that previously required human intervention
About 10 per cent of company's revenue comes from government subsidies on digital payments
The plan can be purchased on the PhonePe app and provides coverage to families by insuring up to four family members, including the user, their spouse, and up to two children
The company's worry continues to be the regulatory market cap in the Unified Payments Interface (UPI) payments ecosystem. Market cap is not the right solution, said Rahul Chari
PhonePe's market share on UPI is pegged at 49 per cent, with the second-largest player Google Pay processing about 38 per cent of the total transaction volumes in the country
Delhi Police also probing alleged involvement of social media influencers
NPCI is considering increasing the allowable market share to to over 40% from the previously proposed 30% cap
Walmart group's fintech firm PhonePe on Tuesday said it has partnered with cross-border payment solutions provider Liquid Group to expand its merchant acceptance network in Singapore. The collaboration will allow PhonePe users travelling to Singapore to scan and pay using the app at Liquid Group's merchant base. "We are thrilled to partner with Liquid Group to bring the convenience of UPI payments to Indian travellers visiting Singapore. This popular destination is a favourite among Indian tourists, and we are excited to empower them to pay quickly and easily at their favourite food, shopping, and sightseeing spots making their travel experience even more enjoyable," Ritesh Pai, CEO of International Payments at PhonePe, said. The QR codes will be widely available at tourist-centric locations, including Changi Airport, duty-free shops, restaurants, bars, retailers like The Cocoa Trees, Hard Rock caf, sightseeing spots, and transportation services, the statement said. The collaborati
Speaking at the Global Fintech Fest, Sameer Nigam, chief executive officer, PhonePe, said, "As far as going public, the market cap overhang is definitely a problem for us
This is the first time the company has reported profit on consolidated numbers
The option also allows merchants on PhonePe's Payment Gateway to offer customers an additional payment option at the time of checkout