The Indian company raised the funds as a component of an ongoing round. PhonePe, a mobile payments giant from India, has announced that an investment from Walmart has brought it another $200 million in funding as a part of an ongoing round that has already helped it bring in $650 million. The funding has arrived regardless of the economic downturn. PhonePe has been bringing in funds too help build itself up in the face of its upcoming separation from Flipkart, its parent company. Walmart already owns the majority of the…
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US companies compete for mobile payments leadership in India
Companies including Google, Facebook, Amazon, and Walmart are all vying for the top spot. Google Pay mobile payments are proving to be a powerful tool in parent company Alphabet’s strategy to grab leadership in India’s online shopping, social networking, streaming, and gaming market, which is experiencing explosive growth. The digital wallet was propelled forward during the pandemic to become second most popular. The pandemic’s acceleration of contact-free transactions gave Google Pay mobile payments the boost it needed to grab the second highest app spot in the category in India. Meta…
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