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PhonePe among top fintech companies with $1.3 trillion total payment value: Walmart
Economic Times
·
1y ago
Medial
Walmart announces that its digital payments firm, PhonePe, has reached a Total Payment Value (TPV) of $1.3 trillion, comparable to major US fintech players. Walmart acquired PhonePe in 2018 as part of the Flipkart deal. PhonePe controls 50% of India's payments market and raised $850 million in 2023. Despite ongoing discussions about a Flipkart IPO, Walmart hasn't finalized a timeframe, focusing on improving Flipkart's financials. PhonePe and Flipkart are potential IPO candidates, with PhonePe being a leading payment company globally outside of China.
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Related News
Flipkart, PhonePe on path to profitability: Walmart CFO
Economic Times
·
1y ago
Medial
Ecommerce firm Flipkart and payments services provider PhonePe, both owned by Walmart, are making progress towards profitability. Flipkart's losses in the ecommerce segment have improved, providing confidence in the financial outlook for the business. Walmart is evaluating the right time to take Flipkart public, with its profitability path influencing the timing of its IPO. PhonePe, on the other hand, has been performing well, handling approximately $1.5 trillion worth of total payment volume annually. The platform has become one of the largest payment providers in the world outside of China.
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Flipkart’s Big Billion Day Lifts Parent Walmart’s Q4 Sales, But Profit Margin Takes A Hit
Inc42
·
1y ago
Medial
Flipkart's annual Big Billion Days sale helped boost Walmart's international sales growth in the last quarter. The event attracted around 1.4 billion customers and saw strong seller growth, with transacting sellers experiencing a 2.5x increase in business. However, the timing of the Big Billion Days sale negatively impacted gross margins. Flipkart's growth in India continues in double digits, and its digital payments platform, PhonePe, is processing over 6 billion monthly transactions and has reached 1.4 trillion in annual total payment volume. Flipkart and PhonePe, both owned by Walmart, are yet to achieve profitability in India.
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PhonePe and G-Pay lead UPI volume in April, CRED targets high-value transfers
Entrackr
·
2m ago
Medial
Fintech platform PhonePe further cemented its dominance in India’s UPI ecosystem in April 2025, maintaining the top spot in both transaction volume and value. The fintech unicorn processed 8,362.31 million UPI transactions worth Rs 12.05 lakh crore. This gave it 46.73% of the total volume and 50.32% of the total value among the top 10 UPI apps. Google Pay held on to second place, with 6,488.55 million transactions worth Rs 8.42 lakh crore. This translates to 36.26% share by volume and 35.18% by value. Paytm came in third, processing 1,210.24 million transactions valued at Rs 1.31 lakh crore, accounting for 6.76% of the volume and 5.48% of the value. CRED shines in high-value payments Navi and super.money took the fourth and fifth positions in terms of volume, with CRED slipping to sixth. However, CRED continued to outperform smaller players in terms of value. The platform processed Rs 49,753 crore through just 134.67 million transactions. This gave the credit-focused app a modest 0.75% share of total volume but a much higher 2.08% share in value. **Other players and total UPI picture** Axis Bank Apps, FamApp by Trio, Amazon Pay, and WhatsApp made up the rest of the top 10. WhatsApp, backed by Meta, was the lowest performer with 67.40 million transactions totaling Rs 5,065.44 crore. In total, UPI processed 17,893.42 million UPI transactions amounting to Rs 23.94 lakh crore in value in April 2025. PhonePe and Google Pay together handled over 82% of UPI transactions and 85% of the total value, clearly dominating India’s digital payments market.
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PhonePe launches Indus Appstore to rival Google Play Store in India
Livemint
·
1y ago
Medial
PhonePe, a Walmart-owned fintech, has launched an Android-based mobile application store called Indus Appstore in India. With over 200,000 apps and games in 12 Indian languages, PhonePe aims to capitalize on the growing mobile usage in the country. The app store offers a self-publishing platform for developers and allows third-party payment gateways. PhonePe is also partnering with smartphone makers to expand its reach. The move is seen as a challenge to Google's Play Store and an effort to create a more inclusive digital ecosystem in India.
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PhonePe users can now make payments through UPI in Singapore
Economic Times
·
1y ago
Medial
Fintech company PhonePe has partnered with The Singapore Tourism Board (STB) to allow its users to make payments through UPI in Singapore. This collaboration builds upon the existing UPI linkage between India and Singapore, enabling customers to make cross-border transactions directly from their Indian bank accounts. The two-year strategic partnership aims to promote UPI payments for Indian visitors in Singapore, with joint marketing efforts and seamless payment experiences across key tourism hotspots. PhonePe, valued at over $10 billion, processes over 230 million daily transactions with an annualised TPV of over $1.5 trillion.
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PhonePe, G-Pay reach peak UPI volumes in May; Super.money maintains lead over CRED
Entrackr
·
1m ago
Medial
PhonePe, G-Pay reach peak UPI volumes in May; Super.money maintains lead over CRED In May, UPI recorded a total of 18.67 billion customer-initiated transactions amounting to Rs 25.14 lakh crore. Of these, 6.82 billion (36%) transactions valued at Rs 18.17 lakh crore (72%) were peer-to-peer (P2P), while the remaining 11.85 billion transactions worth Rs 6.96 lakh crore were peer-to-merchant (P2M). PhonePe and Google Pay continued their dominance in the UPI ecosystem in May 2025, maintaining their positions as the top two apps by both transaction volume and value. As per the latest NPCI data, PhonePe retained its lead with 8.68 billion transactions in May, which translates to a 46.47% share of the total volume among the top players. In terms of transaction value, the app processed Rs 12.56 lakh crore and controlled a 49.97% share. Google Pay followed closely with 6.74 billion transactions and Rs 8.85 lakh crore in value, capturing 36.09% and 35.20% of the volume and value shares, respectively. For PhonePe and Google Pay, May marked their highest transaction volumes since their previous peaks of 8.64 billion and 6.59 billion, respectively, in March. Together, these two apps handled more than 80% of all customer-initiated UPI transactions in the country. Paytm maintained its position in third place by processing 1.27 billion transactions and Rs 1.38 lakh crore in value. However, its 6.84% share of the transaction volume compared to a 5.49% share of value indicates that its users largely engage in low-ticket payments. CRED, on the other hand, stood out for its performance in high-value transactions. Despite accounting for just 141.95 million transactions (0.76% of the volume), CRED recorded a transaction value of Rs 55,242.72 crore, which translates into a 2.20% share of the total value processed. In terms of volume, Navi and Flipkart’s Super.money are ahead of CRED with 386.21 million and 203 million transactions, respectively. Axis Bank apps, which also handled 96.92 million B2C transactions, captured the 7th position. Fampay by Trio (110.38 million), Amazon Pay (98.68 million), and WhatsApp (70.19 million) held the 8th, 9th, and 10th positions, respectively. Super.money overtook CRED to become the fifth-largest UPI app in February and has maintained its lead over the fintech unicorn ever since.
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PhonePe, G-Pay lead UPI transactions in December; Paytm struggles
Entrackr
·
7m ago
Medial
PhonePe, G-Pay lead UPI transactions in December; Paytm struggles In December, the market share of the top three UPI apps by transaction volume saw PhonePe leading with a dominant share of 47.7%. Google Pay followed with a strong 36.7%. The UPI payment ecosystem continued to see dominance from PhonePe and Google Pay in December 2024, with both platforms recording substantial transaction volumes and values. While PhonePe led the market in both transaction volume and value, Google Pay maintained a strong second-place position. According to the latest data, PhonePe registered 7.98 billion transactions with a total transaction value of Rs 11.76 lakh crore. Meanwhile, Google Pay recorded a transaction volume of 6.1 billion and a value of Rs 8.22 lakh crore for the month. On the other hand, Paytm, a key player in the digital payments space, struggled to keep pace with its competitors. It recorded a relatively smaller transaction volume of 1.15 billion, with a total value of Rs 1.25 lakh crore. In December, the market share of the top three UPI apps by transaction volume saw PhonePe leading with a dominant share of 47.7%. Google Pay followed with a strong 36.7%, while Paytm captured a smaller share of 6.87%. In terms of value, the trio’s market share stood at 50.6%, 35.38%, and 5.4% respectively. While PhonePe and Google Pay saw a slight increase in their market share compared to November, Paytm experienced a small decline, with its market share dropping from 6.95% in volume and 5.48% in value. Citing NPCI data, brokerage firm UBS said that Paytm did not gain any UPI market share in December, despite the company receiving clearance to add customers in October. Additionally, the Noida-based company’s shares dropped by 7.5% on Wednesday. Navi, which recently emerged as the fourth-largest player in terms of UPI volume, processed 202.53 million transactions amounting to Rs 11,317.09 crore, while Cred recorded 143.07 million transactions, valued at Rs 50,979.94 crore. As the competition heats up, NPCI has extended the compliance timeline for TPAPs exceeding the volume cap in UPI by two years. The Dilip Asbe-led firm also allowed Meta-owned WhatsApp to extend UPI services to its entire user base across the country. In December, WhatsApp recorded 57.7 million transactions worth Rs 4,348.19 crore and is ranked 11th among UPI-based apps.
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JusPay Nears Unicorn Status With $150 Mn Fundraise Amid Payment Gateway Exodus
OutlookIndia
·
6m ago
Medial
JusPay, a SoftBank-backed fintech infrastructure firm, is set to raise $150 million, nearing unicorn status with an approximate $1 billion valuation. This upcoming funding round, involving SoftBank and WestBridge, will increase JusPay's total fundraising to over $237 million. The move follows multiple payment gateways like PhonePe and Razorpay severing partnerships with JusPay, as these firms shift towards direct merchant integrations to enhance control over client data and payment solutions.
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Flipkart’s Super.money pushes CRED out of top 5 UPI app in Feb
Entrackr
·
4m ago
Medial
Flipkart’s Super.money pushes CRED out of top 5 UPI app in Feb The Unified Payments Interface (UPI) recorded a 5.2% decline in transaction volume, totaling 16.11 billion in February 2025. While the top three UPI apps—PhonePe, Google Pay, and Paytm—continued to dominate the market, Flipkart’s Super.money entered the top five for the first time. PhonePe accounted for 47.54% of transaction volume (7,656.40 million) and 50.94% of the total value (Rs 11,18,963.81 crore). Google Pay secured the second position, processing 5,836.80 million transactions (36.24% volume share) worth Rs 7,71,089.15 crore (35.11% value share). Paytm recorded 6.70% volume share and Rs 1,17,090.29 crore in value (5.33% value share). Among smaller players, Cred stood out with Rs 45,127.72 crore in transactions (2.05% value share), despite a 0.79% volume share. Navi and Super.money held minor shares, processing 260.75 million and 139.10 million transactions, respectively. In terms of volume, Super.money has replaced CRED to become the 5th largest UPI app in the last month. As UPI adoption continues to grow, PhonePe and Google Pay control over 83% of the market, with Paytm striving to stay competitive. NPCI Chief Dilip Asbe recently revealed that UPI has 450 million users, with 200 million active daily. He emphasized the need for RBI, the government, and financial institutions to support strategies aimed at onboarding 200-300 million more users.
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Amazon tops up India payments business with Rs 600 crore
Economic Times
·
1y ago
Medial
Amazon has invested INR 600 crore (approximately $72 million) in its Indian fintech arm, Amazon Pay India, increasing its total investment in the payment platform to INR 950 crore ($114 million) this year. The move further intensifies the competition with other players in the Indian payments market, such as Paytm, PhonePe, and Google Pay. Amazon Pay India offers services like bill payments, UPI payments, wealth management, and insurance premium payments, and has tie-ups with various companies including Bookmyshow and Makemytrip. Amazon Pay India received a payment aggregator license from RBI earlier this year, allowing it to strengthen its merchant payments business.
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