PhonePe raises $200 mn from Walmart at $12 bn valuation
With this tranche, the company has raised $650 million from several global investors. It’s PhonePe’s third biggest funding this year alone.
unified payments interface
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Indians can now transfer money to & from Singapore via UPI
An Indian user can remit up to ₹60,000 in a day, says the RBI.
UPI now 85% of digital transactions
UPI transactions have nearly doubled — in volume and value — since last year. PhonePe, Google Pay and Paytm are the three most used apps for financial transactions.
India records 20.5 bn online transactions worth ₹36 lakh cr in Q2
In terms of merchant transactions, UPI P2M emerged as the preferred payment mode, with a market share of 34% in volume and 17% in terms of value, says the Worldline’s India Digital Payment report.
UPI clocks 6.5 billion transactions in August
UPI transaction value for August jumps to ₹10.72 lakh crore.
UPI transactions may attract MDR charge; RBI seeks feedback
RBI's discussion paper proposes replacing the zero-charge framework for UPI transactions with a subsidy.
Indian auto sector to be world's 3rd largest by 2026: Invest India
Auto components’ exports from India are projected to increase 5 times in the next 10 years, says the agency
UPI transaction value hits ₹10 lakh crore mark in May
UPI processed 595 crore transactions worth ₹10.41 lakh crore in May this year.
The future is in fintech
There are multiple factors at play that support the continued growth of fintech, and the emergence of many more valuable startups from the sector in the coming years.
Battle of the giants in India’s e-payments space
Facebook’s WhatsApp Pay is the latest player to enter India’s payments space, which already has Alphabet’s Google Pay, Walmart’s PhonePe, Amazon Pay, and Alibaba-backed Paytm.
