PhonePe's Share.Market launched "Sheets," a novel tool in India for integrating market data into spreadsh ...More

PhonePe's Share.Market launched "Sheets," a novel tool in India for integrating market data into spreadsheets. This empowers traders to build custom models and strategies, automating analysis and decision-making. Sheets offers real-time data, option chain access, and historical data integration, simplifying complex trading strategies for users of all experience levels. Future enhancements include a custom strategy builder and pre-built strategies. ...Less

PhonePe will offer payment solutions directly to merchants, ending partnerships with payment aggregators ...More

PhonePe will offer payment solutions directly to merchants, ending partnerships with payment aggregators like Juspay. This move may help merchants save on transaction fees. Juspay, with a new license, will provide full-stack services. The move reflects a trend of payment aggregators building in-house routing technologies for direct merchant integrations. ...Less

PhonePe ends partnership with Juspay, choosing direct merchant integrations to provide consistent, best-i ...More

PhonePe ends partnership with Juspay, choosing direct merchant integrations to provide consistent, best-in-class success rates. The move aligns with industry trends of payment aggregators building in-house orchestration systems. Juspay, now a licensed payment aggregator, may compete directly with PhonePe and others in the market. ...Less

Binny Bansal has stepped down from PhonePe's board, following his earlier departure from Flipkart. This a ...More

Binny Bansal has stepped down from PhonePe's board, following his earlier departure from Flipkart. This and more in today’s ETtech Top 5. ...Less

Bansal played a pivotal role in Flipkart's acquisition of PhonePe in 2016 and has worked closely with Pho ...More

Bansal played a pivotal role in Flipkart's acquisition of PhonePe in 2016 and has worked closely with PhonePe founder Sameer Nigam since then, including after the payments firm’s separation from Flipkart. ...Less

PhonePe has reduced customer support staff by 60% in five years, leveraging AI-driven chatbots to resolve ...More

PhonePe has reduced customer support staff by 60% in five years, leveraging AI-driven chatbots to resolve over 90% of issues, amidst a 40-fold transaction increase. Despite challenges like the zero MDR law and the COVID-19 pandemic, this automation helped PhonePe achieve profitability. ...Less

Happy Wednesday! The booming instant delivery sector is driving players to sharpen their hiring systems f ...More

Happy Wednesday! The booming instant delivery sector is driving players to sharpen their hiring systems for gig workers. This and more in today’s ETtech Morning Dispatch. ...Less

PhonePe launches a new insurance plan priced at ?9 that protects against firecracker-related accidents du ...More

PhonePe launches a new insurance plan priced at ?9 that protects against firecracker-related accidents during Diwali. The plan offers coverage of up to ?25,000 for a 10-day period and includes hospitalisation and accidental death expenses. Coverage starts immediately for purchases from October 25, 2024, onward. ...Less

Sharing the details in its annual report for FY24, the Walmart-backed company said it reported an adjuste ...More

Sharing the details in its annual report for FY24, the Walmart-backed company said it reported an adjusted net profit of Rs 197 crore in the last financial year, excluding employee stock ownership costs, which shows that its core operational business has started to show profits. ...Less

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Consumer payment companies like PhonePe, Paytm, Amazon Pay, and Cred have significantly reduced their mar ...More

Consumer payment companies like PhonePe, Paytm, Amazon Pay, and Cred have significantly reduced their marketing expenditures and customer incentives, reflecting a maturing digital payments market in India. This trend indicates a shift from aggressive customer acquisition strategies to a more sustainable approach focused on profitability. ...Less

PM Modi has invited BRICS nations to introduce India's Unified Payments Interface (UPI) to their markets, ...More

PM Modi has invited BRICS nations to introduce India's Unified Payments Interface (UPI) to their markets, seeking financial integration. India has seen a sharp rise in digital payments from 2021 to 2024, despite 60 percent transactions still being cash-based. The UPI, launched during the 2016 demonetisation, significantly grew post the 2020 lockdown. ...Less

Happy Tuesday! Alex Clavel, the top boss at SoftBank Vision Fund, spoke to ETtech in an exclusive intervi ...More

Happy Tuesday! Alex Clavel, the top boss at SoftBank Vision Fund, spoke to ETtech in an exclusive interview. This and other updates in today’s ETtech Morning Dispatch. ...Less

Despite a significant growth in revenue, Groww posted a net loss in FY24. This and more in today’s ETtech ...More

Despite a significant growth in revenue, Groww posted a net loss in FY24. This and more in today’s ETtech Top 5. ...Less

PhonePe, backed by Walmart, focuses on made-in-India products. It launched Indus Appstore and Pincode to ...More

PhonePe, backed by Walmart, focuses on made-in-India products. It launched Indus Appstore and Pincode to compete with Google, Apple, Flipkart, and Amazon. The company achieved a 74% revenue increase in FY24 and returned to profitability. PhonePe aims to create jobs and drive India's digital payments growth. ...Less

ICICI Bank and PhonePe have partnered to provide instant credit on UPI for pre-approved customers. The se ...More

ICICI Bank and PhonePe have partnered to provide instant credit on UPI for pre-approved customers. The service offers up to Rs 2 lakh credit with a 45-day repayment period. This facility, aimed at festive shopping needs, allows users to make payments for high-value items seamlessly and securely using any UPI payment app. ...Less

India's UPI transaction volume surged 52% year-on-year to 78.97 billion in H1 2024, with the transaction ...More

India's UPI transaction volume surged 52% year-on-year to 78.97 billion in H1 2024, with the transaction value rising by 40%. PhonePe led as the top UPI app. Average ticket size dropped by 8%, despite substantial growth in use for micro-transactions in sectors such as e-commerce and government services. ...Less

While the average daily transaction count crossed 500 million in September, up from 483 million in August ...More

While the average daily transaction count crossed 500 million in September, up from 483 million in August, the value of transactions remained steady at Rs 20.64 lakh crore in both months. ...Less

“We believe a focus on disciplined financial management will help us continue in the progression towards ...More

“We believe a focus on disciplined financial management will help us continue in the progression towards profitability of our payments business which by itself is a unique feat in the Indian context,” said founder and CEO Sameer Nigam. ...Less

EaseMyTrip has partnered with fintech platform PhonePe to launch its 'Hotels' segment on the payment app. ...More

EaseMyTrip has partnered with fintech platform PhonePe to launch its 'Hotels' segment on the payment app. PhonePe users can now access domestic and international hotels with special offers, competitive pricing, and flexible booking options. Future plans include integrating 'Activities' and 'Cabs' features to enhance the travel experience for users. ...Less

PhonePe has partnered with Liquid Group to enable Indian travelers to make UPI payments at various mercha ...More

PhonePe has partnered with Liquid Group to enable Indian travelers to make UPI payments at various merchants in Singapore. This collaboration allows users to pay in Indian Rupees at key locations, enhancing convenience and transparency. The partnership also facilitates international remittances and payments for NRIs through the PayNow-UPI corridor. ...Less

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Digital payments major PhonePe has reported a 74% jump in revenue for FY24. This and more in today’s ETte ...More

Digital payments major PhonePe has reported a 74% jump in revenue for FY24. This and more in today’s ETtech Top 5. ...Less

Walmart-backed fintech major PhonePe on Wednesday said the market cap overhang is a challenge for the pot ...More

Walmart-backed fintech major PhonePe on Wednesday said the market cap overhang is a challenge for the potential listing of the company and can not go to the market based on the current numbers and market share. He also said the company plans to enter the European market in the next five years. ...Less

Unified Payments Interface (UPI), the popular retail digital payments railroad is betting big on UPI Circ ...More

Unified Payments Interface (UPI), the popular retail digital payments railroad is betting big on UPI Circle, the new feature around delegated payments to push the number of active users on the platform. UPI Circle is being built to solve multiple use cases for digital payment needs for different members in a single family, perhaps with one bank account. ...Less

PhonePe CEO Sameer Nigam said the 30% market share cap on Unified Payment Interface is a hurdle for its I ...More

PhonePe CEO Sameer Nigam said the 30% market share cap on Unified Payment Interface is a hurdle for its IPO plans. This and more in today’s ETtech Top 5. ...Less

Google Pay's VP, Ambarish Kenghe, does not see any challenges with a potential cap on UPI market share du ...More

Google Pay's VP, Ambarish Kenghe, does not see any challenges with a potential cap on UPI market share due to the large number of players in the segment. Google Pay and PhonePe dominate 85% of UPI transactions. Kenghe stressed the importance of interoperability and advised startups to find niche markets. ...Less

Ambarish Kenghe of Google Pay believes the UPI market has room for multiple players despite concerns over ...More

Ambarish Kenghe of Google Pay believes the UPI market has room for multiple players despite concerns over market share. Though the cap might hinder IPO plans for companies like PhonePe, the market remains competitive with PhonePe and Google Pay accounting for over 85% of July's UPI transactions. ...Less

PhonePe, a Walmart-backed entity, is the largest UPI payment app in India and holds around 48% of the mar ...More

PhonePe, a Walmart-backed entity, is the largest UPI payment app in India and holds around 48% of the market share in terms of transaction volume. However, the central government and the National Payments Corporation of India (NPCI) had proposed a 30% market share cap in the UPI segment earlier to prevent market concentration and duopoly. ...Less

??Pop has reached more than 1.5 million transactions since its launch. The app's UPI rewards, via Popcoin ...More

??Pop has reached more than 1.5 million transactions since its launch. The app's UPI rewards, via Popcoins, are merchant-funded and can be redeemed to buy products from direct-to-consumer (D2C) brands in categories such as beauty, personal care, electronics, fashion, and home goods - all housed within the Pop app. ...Less

NPCI plans to rejuvenate its Bhim app by creating a separate subsidiary and appointing a new CEO. The aim ...More

NPCI plans to rejuvenate its Bhim app by creating a separate subsidiary and appointing a new CEO. The aim is to challenge dominant players like PhonePe and Google Pay, and enable smaller banks to adopt Bhim's UPI solution. PhonePe, Google Pay and Paytm grabbed market share with cashbacks, engaging payment experience and gamification of the payment process. BHIM kept on losing users to eventually land up with 0.17% market share as of July 2024. ...Less

The 30% market share cap in the UPI segment was considered improbable with only a few months left until t ...More

The 30% market share cap in the UPI segment was considered improbable with only a few months left until the deadline. Newcomers revised their plans as PhonePe and Google Pay retained dominance. The government had not yet provided an official stance to the NPCI on this matter. On the other hand, NPCI has been allowing multiple consumer internet platforms with a large user base to become third-party application providers and launch their own UPI offerings. ...Less

Happy Wednesday! The surge in quick commerce is driving deal activity in the D2C sector. This and more in ...More

Happy Wednesday! The surge in quick commerce is driving deal activity in the D2C sector. This and more in today’s ETtech Morning Dispatch. ...Less

Sources told us that PhonePe is looking to set up local subsidiaries in these geographies, apply for a pa ...More

Sources told us that PhonePe is looking to set up local subsidiaries in these geographies, apply for a payment licence, and offer domestic digital payment systems there. With the Indian experience, the PhonePe leadership is confident of getting a toehold in these emerging economies. This comes as the National Payments Corporation of India plans the adoption of UPI outside India. ...Less

Walmart CFO David Rainey said ecommerce company Flipkart and PhonePe are on the path to profitability. Fl ...More

Walmart CFO David Rainey said ecommerce company Flipkart and PhonePe are on the path to profitability. Flipkart’s losses in the ecommerce segment have been improving, he said at an investor conference. He also said this “gives us a lot of confidence in what the overall financial profile of this business looks like a few years from now”. ...Less

The UPI payments space has seen an influx of new players in recent times. The entrants are challenging th ...More

The UPI payments space has seen an influx of new players in recent times. The entrants are challenging the dominance of PhonePe and Google Pay, which control more than 80% share of the market. ...Less

Indian payment firms GooglePay, PhonePe, AmazonPay, and Indian fintech firm Cred are among five companies ...More

Indian payment firms GooglePay, PhonePe, AmazonPay, and Indian fintech firm Cred are among five companies reportedly seeking to join the Reserve Bank of India's digital currency pilot. The e-rupee, a digital alternative to physical currency, was initially allowed only by banks but has since declined to around 100,000-200,000 a day. ...Less

Indian fintech giant PhonePe has launched its UPI services in Sri Lanka, enhancing cross-border fintech c ...More

Indian fintech giant PhonePe has launched its UPI services in Sri Lanka, enhancing cross-border fintech connectivity. The event was attended by dignitaries including the Central Bank Governor and India's High Commissioner. This milestone partnership with LankaPay enables Indian visitors to make secure UPI payments in Sri Lanka, promoting digital transactions and financial integration between the two nations. ...Less

Walmart's Flipkart marketplace and PhonePe digital payments platform could have IPOs in the next couple o ...More

Walmart's Flipkart marketplace and PhonePe digital payments platform could have IPOs in the next couple of years, as stated by Walmart's executive, Dan Bartlett. ...Less

The record high transactions come after a month-on-month dip in volumes in April to 13.3 billion, with th ...More

The record high transactions come after a month-on-month dip in volumes in April to 13.3 billion, with the network dropping 1% from 13.44 billion in March. In May, the average daily transaction value was Rs 65,966 crore with average daily volumes at 453 million. UPI is the fastest growing digital payments channel in the country. ...Less

The transactions will be facilitated by the UPI and LankaPay National Payment Network. Users can scan Lan ...More

The transactions will be facilitated by the UPI and LankaPay National Payment Network. Users can scan LankaQR code to make secure and quick payments without carrying cash or calculating currency conversions. The amount will be debited in Indian currency, showing the currency exchange rate. ...Less

Loans against mutual funds are rapidly gaining popularity as a cost-effective alternative to expensive pe ...More

Loans against mutual funds are rapidly gaining popularity as a cost-effective alternative to expensive personal and business loans, by offering interest rates that are near to home loans. ...Less

PhonePe, a Bengaluru based fintech major, has launched secured loan products in partnership with non-bank ...More

PhonePe, a Bengaluru based fintech major, has launched secured loan products in partnership with non-banking finance companies like Tata Capital and L&T Finance. The Walmart owned company is offering six credit products to its customers. ...Less

Adani Group is considering applying for a license to operate on India's public digital payments network a ...More

Adani Group is considering applying for a license to operate on India's public digital payments network and planning a co-branded credit card with banks, aiming to enter the booming digital payments market. ...Less

An investigation by the central government into Byju's cleared the edtech firm of financial fraud charges ...More

An investigation by the central government into Byju's cleared the edtech firm of financial fraud charges, according to a report by Bloomberg. The Ministry of Corporate Affairs, however, denied it on Wednesday evening. This and more in today's ETtech Top 5. ...Less

Happy Monday! Online sales haven’t picked up during the final quarter of FY24, industry officials said. T ...More

Happy Monday! Online sales haven’t picked up during the final quarter of FY24, industry officials said. This and more in today’s ETtech Morning Dispatch. ...Less

The legal battle began in 2018 when PhonePe issued a legal notice to BharatPe, asking the latter to stop ...More

The legal battle began in 2018 when PhonePe issued a legal notice to BharatPe, asking the latter to stop using 'Pe' in Devanagari script in their brand name. ...Less

BharatPe and PhonePe settle long-standing legal disputes over trademark 'Pe' suffix. ...More

BharatPe and PhonePe settle long-standing legal disputes over trademark 'Pe' suffix. ...Less

The world of startups witnessed a series of top-level movements in the first half of 2024, including Nave ...More

The world of startups witnessed a series of top-level movements in the first half of 2024, including Naveen Tahilyani taking the helm as CEO of Tata Digital and the resignation of Surinder Chawla, managing director and chief executive officer of Paytm Payments Bank. ...Less

The expanded partnership will enable over 54 crore PhonePe users to experience more comprehensive travel ...More

The expanded partnership will enable over 54 crore PhonePe users to experience more comprehensive travel booking and utility services for flights, trains and buses, ixigo said. ...Less

Happy Monday! Fintech companies like Cred, PhonePe and Paytm are seeking partnerships with NBFCs to enter ...More

Happy Monday! Fintech companies like Cred, PhonePe and Paytm are seeking partnerships with NBFCs to enter the secured credit market. This and more in today’s ETtech Morning Dispatch. ...Less

PhonePe launched its own Android-based app store, challenging Google's billing policy and commissions. It ...More

PhonePe launched its own Android-based app store, challenging Google's billing policy and commissions. It onboarded popular apps and gaming majors, offering zero listing and platform fees. ...Less

During Walmart's quarterly analyst call, chief financial officer John David Rainey said that Flipkart gre ...More

During Walmart's quarterly analyst call, chief financial officer John David Rainey said that Flipkart grew by double digits for the first quarter ended April 30. ...Less

Flipkart aims to move domicile from Singapore to India for an IPO. Talks gain impetus for largest local c ...More

Flipkart aims to move domicile from Singapore to India for an IPO. Talks gain impetus for largest local consumer internet company to reverse flip to India. Walmart owns 85%. ...Less

India delays market share caps for digital payments, benefiting PhonePe and Google Pay. NPCI extends UPI ...More

India delays market share caps for digital payments, benefiting PhonePe and Google Pay. NPCI extends UPI market share cap deadline. PhonePe's UPI share increases to 48.3%, while Google Pay's decreases. Total transactions volume reaches 11.5 billion. ...Less

Walmart sees financial services as a growth opportunity, with PhonePe and Flipkart driving monetisation p ...More

Walmart sees financial services as a growth opportunity, with PhonePe and Flipkart driving monetisation prospects. A report by Bernstein Research suggests India's ecommerce market could double by 2025. ...Less

After RBI restricted Paytm Payments Bank, the UPI transactions on the Paytm app fell. This is the first m ...More

After RBI restricted Paytm Payments Bank, the UPI transactions on the Paytm app fell. This is the first month the fall has been arrested since February. In terms of the share of UPI payments by volume, Paytm stood at around 8.1% in May — almost at the same level as the previous month. ...Less

PhonePe has returned to the drawing board to review its ecommerce strategy. This and more in today’s ETte ...More

PhonePe has returned to the drawing board to review its ecommerce strategy. This and more in today’s ETtech Top 5. ...Less

The Unified Payments Interface (UPI) network, operated by the National Payments Corporation of India (NPC ...More

The Unified Payments Interface (UPI) network, operated by the National Payments Corporation of India (NPCI), has achieved a significant milestone by processing a record 14.04 billion transactions in May, surpassing the 13.3 billion transactions recorded in April. In terms of value, UPI facilitated transactions amounting to ?20.45 lakh crore in May, compared to ?19.64 lakh crore in April, as per the data released by NPCI on Saturday. ...Less

Jio Finance will offer UPI payments, bill payments, insurance advisory and digital banking. Eventually Ji ...More

Jio Finance will offer UPI payments, bill payments, insurance advisory and digital banking. Eventually Jio Financial Services will offer credit products like loans against mutual funds, home loans and others to its customers through the app. ...Less

Flipkart secures $1 billion funding with investments from Google and Walmart. Walmart, which holds an 85% ...More

Flipkart secures $1 billion funding with investments from Google and Walmart. Walmart, which holds an 85% stake, invested $600 million in the round. Valued at $35-36 billion, Flipkart plans to expand with Google's cloud collaboration. ...Less

Paytm, the Indian fintech pioneer, signalled job cuts and asset trimming after reporting its first sales ...More

Paytm, the Indian fintech pioneer, signalled job cuts and asset trimming after reporting its first sales decline on record due to a regulatory probe. The company's net losses surged to 5.5 billion rupees, with revenue dropping by 2.6%. Paytm aims to recover by streamlining operations and focusing on core businesses. ...Less

Financial services companies such as Aditya Birla Capital, Angel One and Muthoot Fincorp are building sup ...More

Financial services companies such as Aditya Birla Capital, Angel One and Muthoot Fincorp are building superapps -- a one-stop applications for all their customers' needs. This development comes as large groups such as Reliance Industries and Tata Group have already rolled out such superapps for everything from shopping to payments and credit under one roof. ...Less

HDFC Life is among the first insurers to partner with Mumbai-based Upstox, featuring its term insurance p ...More

HDFC Life is among the first insurers to partner with Mumbai-based Upstox, featuring its term insurance plans on the platform ...Less

PhonePe enables UPI payments in Singapore through a pact with The Singapore Tourism Board, enhancing cros ...More

PhonePe enables UPI payments in Singapore through a pact with The Singapore Tourism Board, enhancing cross-border transactions for Indian visitors. The collaboration includes joint marketing efforts and over 8,000 merchants for seamless transactions. ...Less

Happy Monday! Ecommerce major Flipkart is in discussions to shift its domicile from Singapore to India. T ...More

Happy Monday! Ecommerce major Flipkart is in discussions to shift its domicile from Singapore to India. This scoop and more in today’s ETtech Morning Dispatch. ...Less

Happy Thursday! Fintech startup Groww has completed the process of domiciling itself to India from the US ...More

Happy Thursday! Fintech startup Groww has completed the process of domiciling itself to India from the US. This and more in today’s ETtech Morning Dispatch. ...Less

Increasing number of large startups across sectors looking to shift from US, Singapore ...More

Increasing number of large startups across sectors looking to shift from US, Singapore ...Less

Delivers prepaid items from kirana stores; offers service in NCR, Bengaluru, Chennai, Hyderabad, Jaipur, ...More

Delivers prepaid items from kirana stores; offers service in NCR, Bengaluru, Chennai, Hyderabad, Jaipur, Lucknow, Kolkata, Guwahati and Ludhiana ...Less

The UPI payment ecosystem is currently under the sway of two major players – Google Pay, commanding a sub ...More

The UPI payment ecosystem is currently under the sway of two major players – Google Pay, commanding a substantial 47% market share, and PhonePe, a Walmart subsidiary, holding a significant 37% share. This duopoly underscores the competitive landscape and the uphill battle faced by smaller players. ...Less

NPCI-built app to foray into ecommerce space via separate division. Despite marketing challenges, BHIM ai ...More

NPCI-built app to foray into ecommerce space via separate division. Despite marketing challenges, BHIM aims to improve user experience through partnerships and new initiatives like BHIM 2.0. ...Less

Supreme Court dismissed PhonePe's appeal against DigiPe's trademark use. The court noted other companies ...More

Supreme Court dismissed PhonePe's appeal against DigiPe's trademark use. The court noted other companies with similar 'Pe' suffix. The ongoing lawsuit readiness and differences in services between PhonePe and DigiPe were highlighted. ...Less

The infusion of Rs 426 crore to PhonePe Insurance Broking Services points to the payment company's bullis ...More

The infusion of Rs 426 crore to PhonePe Insurance Broking Services points to the payment company's bullish bet on the segment. PhonePe has infused more than Rs 1,000 crore as equity investment in its insurance unit since it was licensed, according to information sourced from the Registrar of Companies. ...Less

The launch of PhonePe's Indus Appstore is expected to take place in New Delhi. PhonePe released the devel ...More

The launch of PhonePe's Indus Appstore is expected to take place in New Delhi. PhonePe released the developer platform for the Android-based app marketplace in September last year and said it would be free for developers for the first year, after which a nominal annual fee would apply. ...Less

PhonePe is restructuring its ONDC strategy by exiting several non-food categories. The Walmart-owned comp ...More

PhonePe is restructuring its ONDC strategy by exiting several non-food categories. The Walmart-owned company unveiled its ecommerce venture Pincode on ONDC in 2023 offering grocery, food delivery, medicines, fashion and electronics among other categories on the network. ...Less

Fintech giant PhonePe has put big money into its subsidiaries to grow businesses such as insurance brokin ...More

Fintech giant PhonePe has put big money into its subsidiaries to grow businesses such as insurance broking, wealth management and hyperlocal ecommerce. This and more in today’s ETtech Morning Dispatch. ...Less

PhonePe, eSewa, HAN Pokhara collaborate to promote UPI payments at Fewa New Year Festival in Nepal. On-gr ...More

PhonePe, eSewa, HAN Pokhara collaborate to promote UPI payments at Fewa New Year Festival in Nepal. On-ground activities aim to educate merchants for UPI uptake. ...Less

The new rules will be applicable to existing payment aggregators such as Razorpay, Cashfree, and PayU, ca ...More

The new rules will be applicable to existing payment aggregators such as Razorpay, Cashfree, and PayU, card payment companies, such as Pine Labs, Innoviti Payments, and MSwipe, and QR code deployers, such as PhonePe, BharatPe and Google Pay. ...Less

NPCI encourages new UPI apps to invest for user growth. Uncertainty looms over market share deadline exte ...More

NPCI encourages new UPI apps to invest for user growth. Uncertainty looms over market share deadline extensions, hindering significant capital investment by smaller players like Cred amid concerns about reducing market leaders' share. ...Less

PhonePe, the Walmart-backed digital payments major, has strengthened its board of directors with the indu ...More

PhonePe, the Walmart-backed digital payments major, has strengthened its board of directors with the induction of Tarun Bajaj, former revenue secretary, as an Independent Director and Chairman of the Risk Committee. It has also brought on board John D Rainey, executive vice president and chief financial officer of Walmart, and Donna Morris, executive vice president and chief people officer of Walmart, as non-executive directors. ...Less

Wealth and investment platform by PhonePe, Share.Market, on Friday introduced its Futures and Options (F& ...More

Wealth and investment platform by PhonePe, Share.Market, on Friday introduced its Futures and Options (F&O) segment. "The introduction of F&O capabilities on Share.Market enhances the platform's offerings, with a comprehensive option chain analysis to track options. ...Less

UPI rule change for PPIs: Currently, money in your prepaid wallet (like PhonePe) can only be used for UPI ...More

UPI rule change for PPIs: Currently, money in your prepaid wallet (like PhonePe) can only be used for UPI transactions through the app offered by the wallet issuer itself. This limits your options — you can't use PhonePe money on Paytm or BHIM, for example. To address this, the Reserve Bank of India (RBI) has proposed allowing users to link their prepaid payment instrument such as wallets with any third-party UPI app. This means greater flexibility. What changes for UPI customers? How is this move going to help you? ...Less

PhonePe CEO Sameer Nigam expects to gain from potential decline in Paytm's user base. PhonePe witnessed a ...More

PhonePe CEO Sameer Nigam expects to gain from potential decline in Paytm's user base. PhonePe witnessed an increase in user base due to regulatory challenges faced by Paytm Payments Bank. PhonePe holds a 46% share in UPI volumes. ...Less

Paytm processed around 1.2 billion UPI transactions in March. This is below 1.3 billion transactions in F ...More

Paytm processed around 1.2 billion UPI transactions in March. This is below 1.3 billion transactions in February and 1.4 billion in January. Overall, UPI payments rose to 13.4 billion in March compared to 12 billion in February, per NPCI data. ...Less

PhonePe enables users in the UAE to make payments at Neopay terminals, enhancing cross-border transaction ...More

PhonePe enables users in the UAE to make payments at Neopay terminals, enhancing cross-border transactions for Indian travelers. The collaboration with Mashreq and NPCI aims to simplify payment processes, including inbound remittances, through the UPI infrastructure. ...Less

However, Dunzo investors were not in favour due to strategic nature of Walmart-backed company. ...More

However, Dunzo investors were not in favour due to strategic nature of Walmart-backed company. ...Less

Credit card bill payment rules: As of July 1, customers with credit cards from major banks like HDFC Bank ...More

Credit card bill payment rules: As of July 1, customers with credit cards from major banks like HDFC Bank and Axis Bank will no longer be able to settle their credit card bills using third-party applications such as PhonePe, Amazon Pay, and Paytm. ...Less

Happy Wednesday! A wave of Indian technology startups, including Pine Labs and Zepto, are actively workin ...More

Happy Wednesday! A wave of Indian technology startups, including Pine Labs and Zepto, are actively working on plans to shift their domiciles to India. This and more in today’s ETtech Morning Dispatch. ...Less

If the third largest UPI payment app further loses market share, there is a high chance that the likes of ...More

If the third largest UPI payment app further loses market share, there is a high chance that the likes of PhonePe and Google Pay will benefit, skewing the market share dynamics even more, industry insiders said. ...Less

Flipkart cofounder Binny Bansal exited the Flipkart board in January, but he’s been busy making investmen ...More

Flipkart cofounder Binny Bansal exited the Flipkart board in January, but he’s been busy making investments and giving shape to his new startup as well as portfolio companies ...Less

The valuation of the ecommerce firm declined to $35 billion as of January 31, 2024, from $40 billion in t ...More

The valuation of the ecommerce firm declined to $35 billion as of January 31, 2024, from $40 billion in the financial year ended on January 31, 2022, as per Walmart's change in equity structure in Flipkart. ...Less

PhonePe and Paytm are testing audio ads on sound boxes at retail stores with FMCG brands. The ads, target ...More

PhonePe and Paytm are testing audio ads on sound boxes at retail stores with FMCG brands. The ads, targeting impulse-buying, lack measurement tools for now, posing revenue challenges despite potential targeting opportunities. ...Less

The Walmart-backed company had entered the insurance space in 2020 with a corporate agency licence, befor ...More

The Walmart-backed company had entered the insurance space in 2020 with a corporate agency licence, before acquiring a full-fledged insurance broking licence. Currently, PhonePe distributes life, health, motor and car insurance with partners such as Acko, among others, and allows users to pay in monthly subscriptions through UPI. ...Less

The dominance of PhonePe and Google Pay in the UPI market has sparked discussions about introducing fees ...More

The dominance of PhonePe and Google Pay in the UPI market has sparked discussions about introducing fees on merchant transactions. Fintech companies argue that a merchant discount rate (MDR) is needed for long-term sustainability. Introducing fees could incentivize smaller players to compete and attract bigger platforms, benefiting the overall UPI ecosystem. ...Less

According to data shared by National Payments Corporation of India, One 97 Communication-run Paytm report ...More

According to data shared by National Payments Corporation of India, One 97 Communication-run Paytm reported 1.3 billion transactions on UPI, a 7.6% drop from 1.4 billion in January. ...Less

As of now, Walmart-backed PhonePe and Google Pay already control more than 80% of the UPI market between ...More

As of now, Walmart-backed PhonePe and Google Pay already control more than 80% of the UPI market between them, while Paytm has under 12%. However, last month’s regulatory crackdown on Paytm Payments Bank could see the number three player ceding user volume to the frontrunners. ...Less

Days ahead of a decisive extraordinary general meeting, Byju Raveendran wrote a letter to shareholders in ...More

Days ahead of a decisive extraordinary general meeting, Byju Raveendran wrote a letter to shareholders informing them that the edtech firm’s rights issue has been fully subscribed. Details of this and more in today’s ETtech Top 5. ...Less

Indian internet founders are calling for government intervention in reaction to Google's move to delist s ...More

Indian internet founders are calling for government intervention in reaction to Google's move to delist several of these apps without warning. ...Less

Finance Minister Nirmala Sitharaman chaired a meeting with top executives of around 50 fintech firms to d ...More

Finance Minister Nirmala Sitharaman chaired a meeting with top executives of around 50 fintech firms to discuss regulatory issues and compliance. Private sector fintech firms like RazorPay, PhonePe, Google Pay, and Amazon Pay were present. The meeting was attended by officials from NPCI, RBI, and government ministries. ...Less