Page 5 - Phonepe

Serial regulatory changes slow down PhonePe progress ahead of IPO

The Walmart-owned digital wallet has to grapple with regulatory changes restricting its expansion that coincide with its IPO plans in 2023

Paytm, PhonePe make most of digital adoption to disrupt BFSI space

Paytm launches instant personal loans 24x7 all year round in under two minutes, PhonePe unveils Term insurance

PhonePe reports 7% decline in net losses for FY20, revenue rises 74%

PhonePe is currently valued at $5.5 billion from existing Flipkart investors led by Walmart with the e-commerce player holding majority shares in the company

WhatsApp means Business, joins payments companies in race for revenue

Even as Paytm, PhonePe and Amazon Pay collectively lost $1 billion in FY19, WhatsApp has come up with Business, its first revenue-making initiative in India

HDFC, ICICI Bank and SBI, among top-10 lenders in 2020, says report

Google Pay and PhonePe were the top wallets among the customers, says Report

Sebi tweaks eligibility norms, paves way for fintech firms to set up AMCs

Entity can sponsor an MF even if it doesn't fulfill profitability rule; CIRP cos asked to have at least 5% public float

Fintech major PhonePe receives Rs 150 crore capital infusion: Report

PhonePe Pvt Ltd, Singapore (formerly Flipkart Payments Pvt Ltd) was allotted 198,755 shares

Amazon Pay revenue grew 64% to Rs 1,370 crore, losses increase 61%

After the closure of the financial year 2019-20, the firm has revised authorised share capital from Rs 6,000 crore to Rs 16,000 crore in an extraordinary general meeting held in September this year

Digital gold is the new war zone for PhonePe, Amazon and Google in India

With Covid-19 impacting buying sentiment, the tech giants are leaving no stone unturned to woo customers to buy digital gold on instalments across the country, including smaller towns

Google Pay, PhonePe account for 82% of UPI market by volume in Nov

New entrant into the market WhatsApp Pay had done 300,000 transactions in November, worth Rs 13.87 crore

With $700-mn war chest, PhonePe to fight Google, Amazon in rural India

PhonePe recently crossed the 250-million registered user milestone, with over 100 million monthly active users generating nearly 1 billion digital payment transactions in October alone

Flipkart to spin-off PhonePe, payments firm to be valued at $5.5 billion

Move will help PhonePe access dedicated, long-term funds for its growth plans. In this financing round led by Walmart, PhonePe is raising $700 mn primary capital at post-money valuation of $5.5 bn

Flipkart partially spins off PhonePe in $700 million fundraising round

E-commerce major Flipkart announced a "partial spin-off" of PhonePe as the digital payment firm raises $700 million in funding, valuing it at $5.5 billion

RBI levies over Rs 5.8 cr fine on 6 entities including PNB, Sodexo, PhonePe

The Reserve Bank of India (RBI) has imposed a total fine of over Rs 5.78 crore on six entities, including PNB, Sodexo and PhonePe, for violating regulatory guidelines. In exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, the RBI has imposed monetary penalty on these entities for non-compliance of regulatory guidelines, it said in a release. Except Punjab National Bank (PNB), the remaining five entities are non-bank prepaid payment instrument (PPI) issuers. RBI imposes the penalty on Sodexo SVC India Pvt Ltd, Muthoot Vehicle & Asset Finance Ltd, QwikCilver Solutions Pvt Ltd, Phonepe Pvt Ltd, Delhi Metro Rail Corporation Ltd, and Punjab National Bank, said the release. Sodexo is slapped with the highest fine of Rs 2 crore; PNB and QwikCilver Solutions Rs 1 crore each; PhonePe Rs 1.39 crore; Muthoot Vehicle & Asset Finance Rs 34.55 lakh; and Delhi Metro Rail Corporation Rs 5 lakh.

PhonePe becomes largest platform for buying digital gold with 35% mkt share

With over 35%market share, the Walmart-owned firm which competes with Google Pay, Amazon Pay and Paytm has seen a more than 6X jump in the volume of Gold sold in the festival season

Flipkart, PhonePe monthly active customers at 'all time high': Walmart

Walmart International CEO Doug McMillon says group committed to high-value markets like India.

Google, Walmart hit by India's move to limit some digital payments players

More than 2.07 billion UPI transactions were processed in October, according to NPCI, with Walmart's PhonePe accounting for just over 40% of those transactions

PhonePe breaches 250-mn user mark; logs 925 mn transactions in October

Walmart-owned digital payments firm hits $277-billion annual TPV run-rate

PhonePe hits 250 mn-user mark, registers 925 mn transactions in October

Flipkart-owned fintech platform PhonePe said it has crossed the 250 million-registered users milestone

WhatsApp Pay gears up to take on rivals Google Pay, PhonePe and Paytm

Messenger app has an average monthly download of 30.8 mn