E-commerce major Flipkart on Thursday announced a "partial spin-off" of PhonePe as the digital payment firm raises USD 700 million in funding, valuing it at USD 5.5 billion.
The announcement by NPCI came minutes after it limited a single third party like WhatsApp or its rivals like Google Pay or Walmart's PhonePe to handle only 30 per cent of overall UPI transaction volumes by putting a cap.
Flipkart-owned fintech platform PhonePe on Monday said it has crossed the 250 million registered user milestone. The company reported over 100 million monthly active users (MAU) and 2.3 billion app sessions in October, a statement said.
Online payment apps such as Google Pay, PhonePe are working with National Payments Corporation of India (NPCI) to add new features to their ecosystem in order to ease users' payment experience. Here's what all we know.
Ola has joined with digital payments platform PhonePe to provide a better digital payments experience to users
"We are excited to partner with Ola, India''s leading mobility services provider, to enable a seamless and convenient payment experience for our customers," added Ankit Gaur, Director, Business Development at PhonePe.
PhonePe has started contactless delivery of groceries in India. Read on to know more about it
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