Unified Payments Interface (UPI) is the real-time payment mechanism. The instant payment system allows users to instantly transfer money to any bank account. Run by the National Payments Corporation of India (NPCI), UPI recently achieved a new milestone. UPI transactions in the month of August crossed 10 billion. Data from NPCI shows that 10.5 billion …
Apple is reportedly in discussions with regulatory authorities and officials in India to explore the possibility of introducing its payment service, Apple Pay. The company is planning to engage with the National Payment Corporation of India (NPCI) to launch Apple Pay in the country. Despite the dominance of Google’s GPay, Walmart’s PhonePe, and Paytm in …
At an investor conference, Walmart’s Chief Financial Officer stated that Walmart’s Flipkart marketplace and PhonePe payments business in India have the potential to become $100 billion (Rs. 8,19,750 crore) enterprises due to their strong growth. Although Walmart does not provide specific sales figures for Flipkart and PhonePe, their executives have recognized these two businesses as …