Heena Sharma Blog

  Walmart , the world’s largest retailer, said on Friday it will use its global resources to expand support for Covid-19 relief efforts in India. Walmart, the Walmart Foundation, Flipkart and PhonePe, along with Walmart’s Global Technology and Sourcing hubs, are collaborating to counter oxygen shortages, support the national vaccination drive and donate to organizations making a difference in communities nationwide. “Walmart is a global family. We feel the impact of this devastating surge on our associates, families and friends across India, and it’s important that we come together to support however we can,” said Doug McMillon, President and CEO of Walmart Inc. Walmart will donate up to 20 oxygen-generating plants and 20 cryogenic containers for oxygen storage and transportation, as well as more than 3,000 oxygen concentrators and 500 oxygen cylinders for delivering oxygen therapy to patients at home or in the hospital. These are being sourced globally and will be donated t...

  With Covid-19 cases rising across the country, Walmart-owned digital payments firm PhonePe is witnessing an increasing trend related to the adoption of its Coronavirus insurance product launched last year. The analysis of sales and claims data over the past year showed that Coronavirus insurance has seen widespread adoption with 75 per cent of policies bought by customers in smaller towns outside the tier-1 cities. These mainly include users in smaller towns and rural areas of the country. “The last few weeks have seen a resurgence in Covid-19 cases across the country. While the central and state governments are taking several steps towards containing the outbreak, many Indians still don’t have health insurance covers as a result of which they may have to bear an additional financial burden in case someone in their family needs to be hospitalized for Covid-19,” said Gunjan Ghai, vice president and head of insurance, PhonePe. “Keeping this in mind, we are one of the very few...

  Flipkart-owned fintech platform PhonePe on Monday said it has crossed the 250 million registered user milestone. The company reported over 100 million monthly active users (MAU) and 2.3 billion app sessions in October, a statement said. "PhonePe had a record month in October, processing 925 million transactions - its highest so far - with an annual TPV (total payment volume) run rate of USD 277 billion. PhonePe also processed 835 million UPI transactions in October, for a market leading share of over 40 per cent," it added. Sameer Nigam, CEO and founder of PhonePe, said the company has set a target of crossing 500 million registered users by December 2022. "In line with our brand ethos of 'Karte Ja. Badhte Ja', we continue to launch new and innovative products for every strata of Indian society, as well as enable digital payment acceptance across every merchant in every village and town in India," he added. Read More

After YES Ban k was placed under moratorium, digital payments were impacted as PhonePe , which depends on the cash-strapped lender for its transactions, could not operate. It can be noted that the bank's own net banking facilities have not been operational since last evening. Other fintech operators who rely on YES Bank to settle their transactions are also down. We sincerely regret the long outage. Our partner bank (YES Bank) was placed under moratorium by RBI. Entire team's been working all night to get services back up asap (as soon as possible), the app's chief executive Sameer Nigam tweeted early in the morning. PhonePe, one of the country's largest digital payment platforms, is dependent on YES Bank to process its transactions. Read More

Through the AutoPay feature, users can link their credit or debit card for an Ola ride in the PhonePe app once, and the ride-fare would automatically be paid at the end of every ride Technology News : Flipkart-owned digital payments firm PhonePe has tied up with homegrown cab aggregator Ola, where users can book a cab or an auto using a micro-app built on its payments platform. The company has gone live with three such micro-apps, including that of redBus and Metro services, and plans to go live with 5 to 10 more in the ongoing quarter. “Ola’s scale and reach, topped with our AutoPay feature will enable greater convenience and control to our users while making payments seamless,” said Rahul Chari, co-founder and chief   technology   officer, PhonePe. The company, which has built its payments platform primarily on top of the National Payments Corp of India’s Unified Payments Interface (UPI), crossed the 100-million user milestone last month. Through the ...