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The Latest Breaking News from PhonePe

PhonePe wallet inactivity fees do not affect bank accounts or UPI transactions

PhonePe clarifies inactivity fees apply solely to its prepaid wallet, not linked bank accounts or UPI transactions. Users receiving notifications despite app usage are reminded wallet and UPI activities are tracked separately. The company assures no deductions from bank accounts or negative wallet balances, offering 15 days' notice for users…

The Economic Times

PhonePe wallet inactive? You will now be fined for not using it

PhonePe is now charging a Rs 100 quarterly fee for inactive wallets. This fee applies if users have not made any financial transactions through the PhonePe Wallet in the past 365 days. The charge supports platform improvements. Users receive multiple notifications before the fee is deducted. A single wallet transaction…

The Economic Times

PhonePe, Google Pay duopoly weakens as market share slips below 80%

IPO-bound PhonePe saw its market share slip marginally to 46.3% in May, from 46.5% in the same month last year, while Google Pay’s share fell to 32.7% from 36.1% in May 2025.

The Economic Times

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Keshav Reddy's Equal AI raises $30 million in round led by Prosus, Tomales Bay Capital

The round also saw participation from Think Investments, Valiant Fund, PhonePe founder Sameer Nigam, and Zubin Bharti Mittal, among others. The lead investors had also co-led the company's $10 million Series A in November 2024, along with Reddy. The founder, son of GVK Group vice chairman Sanjay Reddy, has transitioned…

The Economic Times

PhonePe launches AI-powered SmartPages to help merchants go online in 10 minutes

PhonePe has introduced SmartPages, an AI tool for merchants. This innovation allows businesses to build payment-ready webpages in under ten minutes. Merchants can describe their offerings, and AI generates descriptions and payment pages. This feature simplifies website creation and marketing copy for small sellers. SmartPages supports regional languages and is…

The Economic Times

Curefoods follows Flipkart, PhonePe to delay IPO plan amid choppy markets

Cloud kitchen platform Curefoods has postponed its Rs 800 crore IPO plans after Sebi approval, as mutual funds resisted its Rs 4,000 crore valuation. The company, facing market headwinds for loss-making new-age firms, aims to relist next year if market conditions improve. This follows similar deferrals by PhonePe and Flipkart.

The Economic Times

SBI Card to revise reward point benefits on these credit cards from July 1, 2026; check details

SBI Card is revising reward point programs for PhonePe SBI Credit Cards, effective July 1, 2026. Both PURPLE and SELECT BLACK cardholders will face new monthly caps on reward points for PhonePe and online spends. Additionally, the SELECT BLACK card will exclude several transaction categories from earning rewards.

The Economic Times

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Oyo parent Prism gets Sebi nod for IPO; plans to raise Rs 6,650 crore: Sources

Hospitality firm Oyo's parent company, Prism, has received SEBI's approval for its IPO, aiming to raise Rs 6,650 crore. The company plans to file an updated draft prospectus within two months, marking its third attempt to go public. This comes as other new-age companies reassess their IPO plans due to…

The Economic Times

One soundbox soon for all payment apps as NPCI readies platform

NPCI is developing a unified, interoperable soundbox system for UPI transactions, aiming to eliminate the need for merchants to use multiple devices. This move could significantly reduce costs for small businesses and streamline payment confirmations across all apps, fostering greater efficiency in the digital payments ecosystem.

The Economic Times

Walmart CEO meets PM Modi, signals deeper India investment

Walmart CEO John Furner met with Indian Prime Minister Narendra Modi. The meeting focused on India's economic growth and investment opportunities. Walmart has sourced $40 billion in goods from India. The company is expanding its digital commerce and payments sectors. Flipkart and PhonePe are planning public listings in India. Walmart…

The Economic Times

Top Payment Gateways for Accepting INR & International Payments

If you're running a business or offering services online from India, having a payment gateway to accept payments in Indian Rupee (INR) is a necessity.

Geekflare

Walmart has kept prices low during inflation and raised pay for managers. Investors aren't happy

Walmart also reported lower quarterly revenue than Amazon for the first time ever.

Fortune

Paytm founder Vijay Shekhar Sharma says he’s looking for chances to increase stake

NEW DELHI: Billionaire Vijay Shekhar Sharma, the founder and chief executive officer of India’s biggest digital payments company, said he’ll look to raise his stake as Paytm approaches profitability.

The Times of India

PhonePe responds to Madhya Pradesh Congress on alleged usage of brand logo on posters

PhonePe objects to the unauthorized usage of its brand logo, by any third party.

The Hindu

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USA Today Sports Media Group

Betbarter Review for India Players

Betbarter com is a young and promising sports betting site. It is aimed at local players in India, and therefore offers betting in rupees, advantageous payment systems, and a welcome bonus of INR 100. Year of foundation 2017 The company Sky Infotech ...

Android Central

Android users in India may soon see a new alternative to Google Play Store

PhonePe is an Indian digital payment and financial services company that is in talks with OEM makers to launch an alternate Play Store.

The Times of India

Walmart gets $1 billion tax bill for shifting PhonePe headquarters to India: Report

Walmart and other PhonePe shareholders will have to pay nearly $1 billion in tax after the digital payments company shifted its headquarters to India, according to people familiar with the matter.

The Times of India

PhonePe loss without ESOP cost narrows to Rs 671 crore in FY22

NEW DELHI: Walmart-owned fintech firm PhonePe on Tuesday reported narrowing of its loss, excluding ESOP cost, to Rs 671 crore for the financial year 2021-22.

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The Hindu

TRS MP Nama Nageswara Rao’s son robbed in Hyderabad

Police said Prithvi Teja was also forced to transfer ₹75,000 via PhonePe

The Times of India

Gang of three brothers held for robbing shop owner in Bengaluru

BENGALURU: Three brothers have been arrested for allegedly robbing a man who boarded an autorickshaw at Carmelaram bus stop on the night of July 9.

The Times of India

Sub Divisional Police Officer held for taking 30,000 bribe

BHUBANESWAR: The state vigilance directorate on Wednesday arrested a police officer, Malaya Kishore Nayak, for allegedly accepting Rs 30,000 bribe from a stone quarry owner in Dhenkanal district to allow him to do business smoothly. Nayak, who is the sub-divisional police officer (SDPO) of Hindol, was caught red-handed while accepting…

Bangkok Post

In India's Mobile-Payments Boom, Even Beggars Get QR Codes

A beggar in the eastern Indian state of Bihar strolled through a train station one recent weekday, toting a metal pail for cash and a tablet computer with a QR code stuck on the back.

Benzinga

Walmart Intensifies Rivalry With Google, Amazon By Targeting India's Budding Payments Market

Walmart Inc's (NYSE:WMT) Indian payments unit PhonePe will acquire two wealth management firms for a total enterprise value of $75 million, Bloomberg reports. PhonePe will buy WealthDesk for about $50 million and OpenQ for nearly $25 million. The acquisitions will help broaden PhonePe's offerings in India's budding payments market, where Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL)…

The Times of India

PhonePe to hire 2,800 people by December

NEW DELHI: Digital payments platform, PhonePe on Tuesday said it will hire 2,800 people by the end of December taking its total headcount to 5,400.

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