Phonepe

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Phonepe - Total results - 57
PhonePe revenue grows 74 percent in financial year 2020, losses fall amid IPO talk
Business

PhonePe revenue grows 74 percent in financial year 2020, losses fall amid IPO talk

The company saw a seven percent decline in net loss from Rs 1,904 crore in FY19 to Rs 1,771 crore in FY20, according to Tofler.

UPI recorded 2.23 billion transactions worth Rs 4.16 trillion in December 2020 reports NPCI
Business

UPI recorded 2.23 billion transactions worth Rs 4.16 trillion in December 2020 reports NPCI

This is a 1 percent jump in volume and a 6.4 percent surge in value for UPI from November which had seen 2.21 billion transactions worth Rs 3,90,999 crore.

PhonePe raises Rs 150 crore from majority stakeholder Flipkart bringing its valuation to $5.5 billion
Business

PhonePe raises Rs 150 crore from majority stakeholder Flipkart bringing its valuation to $5.5 billion

PhonePe currently has over 250 million registered users and competes with the likes of Paytm, GooglePay and WhatsApp Payments.

PhonePe raises $700 million in a new funding round led by Walmart, becomes a separate entity
Business

PhonePe raises $700 million in a new funding round led by Walmart, becomes a separate entity

In unnamed funding round, Flipkart backed PhonePe raises fresh funds thereby taking its valuation to $5.5 billion.

Akshaya Tritiya 2020: Here's how you can buy gold online during coronavirus enforced lockdown
Sports

Akshaya Tritiya 2020: Here's how you can buy gold online during coronavirus enforced lockdown

High gold prices, logistical constraints on delivery, uncertainties surrounding wedding schedules, income anxieties and lockdown in various degrees make it an unusual period that is bound to seriously restrict gold demand.

PhonePe partners Bajaj Allianz for hospitalisation insurance policy for COVID-19; offers cover of Rs 50,000
Business

PhonePe partners Bajaj Allianz for hospitalisation insurance policy for COVID-19; offers cover of Rs 50,000

Users can purchase the policy from the PhonePe app, and the customer is issued policy documents within the app, it said.

Bengaluru, Delhi and Hyderabad lead digital merchant payments; account for over 40% transactions in 2019: Report
Business

Bengaluru, Delhi and Hyderabad lead digital merchant payments; account for over 40% transactions in 2019: Report

Digital transactions are estimated to have grown by 338 percent from 2018 to 2019, according to the Razorpay report

What's the real value of PhonePe, which wants to be India’s second-biggest unicorn?
News & Analysis

What's the real value of PhonePe, which wants to be India’s second-biggest unicorn?

Is PhonePe, the payments arm of Flipkart, the hidden gem in Walmart’s Indian crown with a valuation of $10 billion? Or is it something rather less dazzling?

Flipkart and PhonePe are looking at 'different paths leading to different outcomes'
News & Analysis

Flipkart and PhonePe are looking at 'different paths leading to different outcomes'

Flipkart fintech isn’t focussed on individual payments or UPI. It’s an affordability construct both for customers and sellers.

Flipkart-owned digital payments company PhonePe receives Rs 585.6-cr fund in latest round
Business

Flipkart-owned digital payments company PhonePe receives Rs 585.6-cr fund in latest round

Flipkart-owned digital payments company PhonePe has received a fund infusion of about Rs 585.66 crore from its parent firm in another round, according to regulatory filings

Paytm raises $1 bn from Japan’s SoftBank, China’s Ant Financial; plans to invest Rs 10,000 cr for expansion
Business

Paytm raises $1 bn from Japan’s SoftBank, China’s Ant Financial; plans to invest Rs 10,000 cr for expansion

When its rivals like Google Pay and PhonePe are spending massively on cashbacks, Paytm said it would use Rs 10,000 crore to add as many small merchants and businesses as possible into its fold.

PhonePe FY19 losses surge to Rs 1,905 cr amid battle against rivals Paytm, Google Pay; revenue jumps 331%
Business

PhonePe FY19 losses surge to Rs 1,905 cr amid battle against rivals Paytm, Google Pay; revenue jumps 331%

Flipkart-owned PhonePe has seen its losses mount to Rs 1,904.72 crore in 2018-19 from the previous fiscal, as it continues to battle against rivals like Paytm, Google Pay and Amazon Pay

Amazon India's e-commerce arm narrows FY19 loss to Rs 5,685 cr; revenue rises 55% to Rs 7,778 cr
Business

Amazon India's e-commerce arm narrows FY19 loss to Rs 5,685 cr; revenue rises 55% to Rs 7,778 cr

Amazon Seller Services, the online marketplace arm of the e-commerce giant in India, has narrowed its loss to Rs 5,685 crore for 2018-19

Binny Bansal sells Flipkart shares worth over $14 million to Tiger Global; Tiger Fund increases stake in e-tailer
Business

Binny Bansal sells Flipkart shares worth over $14 million to Tiger Global; Tiger Fund increases stake in e-tailer

In June this year, Bansal is said to have sold a small portion of his shares to FIT Holdings SARL, Walmart’s Luxembourg entity, for about $76.4 million

PhonePe will now begin a doorstep KYC verification service for customers: Report
News & Analysis

PhonePe will now begin a doorstep KYC verification service for customers: Report

The deadline to do the KYC verification has been extended from February to 31 August.

Flipkart-owned PhonePe receives Rs 698-cr infusion from parent company
Business

Flipkart-owned PhonePe receives Rs 698-cr infusion from parent company

Flipkart-owned digital payments company PhonePe has received a fund infusion of about Rs 698 crore from its parent firm, as per regulatory filings

US retail giant Amazon infuses Rs 450 crore in payments unit in India, Amazon Pay
Business

US retail giant Amazon infuses Rs 450 crore in payments unit in India, Amazon Pay

Amazon Corporate Holdings has pumped in Rs 449.95 crore, while the remaining came from Amazon.com.incs Ltd.

RBI removes charges on RTGS, NEFT transactions: Central bank's decision will give a much-needed boost to digital transactions
Business

RBI removes charges on RTGS, NEFT transactions: Central bank's decision will give a much-needed boost to digital transactions

The Narendra Modi government’s Digital India drive has definitely got a boost with this RBI initiative.

Google Pay leads the charge in UPI payments with 240 mn transactions in May
News & Analysis

Google Pay leads the charge in UPI payments with 240 mn transactions in May

Google Pay has consolidated its lead as the top UPI payment app, closely followed by Flipkart-owned PhonePe.

True fintech will be seen in India in the next five years: PhonePe co-founder Rahul Chari
News & Analysis

True fintech will be seen in India in the next five years: PhonePe co-founder Rahul Chari

"If it wasn't for UPI, we wouldn't be where we are right now with digital payments."