PhonePe

Walmart is looking to separate PhonePe from Flipkart so that it can directly own PhonePe

Walmart is looking to unlock the value of its acquisition separately

The company is reportedly being advised by Goldman Sachs

Fintech has been a transformative force in the Indian market with digital payments, lending and investments

India’s adoption rate for fintech products stands at 59%, which is the second-highest pace worldwide

Here's a list of the leading fintech startups in the country across the various sub-sectors

Non-bank issuers with more than 10 Mn outstanding will be covered by this directive

The RBI’s step is an addition to the ombudsman scheme set up in January 2019

The new move will look to strengthen the grievance redressal process for customers, merchants

PhonePe has been partnering with Yes Bank and offering ‘@ybl’ UPI handle

Even though the integration is on, how long will it take for the partnership to go live cannot be said

ICICI Bank had stopped UPI transactions undertaken by its customers through PhonePe in January 2017

In July, NPCI had mandated retail investors to use UPI for IPO applications under ASBA

ASBA in simple terms is an escrow-like mechanism

PhonePe claims to have over 150 Mn users

Walmart's share price has hit $118, an all-time high

PhonePe claims to have over 150 Mn users

Morgan Stanley has also predicted three different scenarios for PhonePe for 2029

PhonePe is looking to start offline KYC for its users

PhonePe will use its existing base of 8K agents for this

The company already hires agents to onboard offline merchants on PhonePe

DST Global has gone slow on Indian investments in the past few years

In March, Flipkart allowed PhonePe to work as an independent entity

PhonePe is seeking a valuation of $8 Bn-$12 Bn

In July 2019, UPI recorded 822.29 Mn transactions

PhonePe claims to have recorded 335 Mn UPI transactions in July

It has achieved an annual TPV (Total payment volume) run-rate of $95 Bn

The company issued 2.02 Mn shares for the funding

In March, Flipkart gave in-principle approval to PhonePe to operate as a separate entity

In April, PhonePe's founders increased their equity stake in the company

Pine Labs is a retail payments software and hardware maker based in Delhi NCR

Company is planning to go public in the next two years

With new services’ launch, Pine Labs expects to quadruple its total payment volume

PhonePe came in second recording 230 Mn monthly UPI payments

Paytm clocked in 200 Mn transactions

NPCI-owned BHIM recorded 15.7 Mn transactions