Walmart teams up with PhonePe to deploy it as a digital payment option
Category: #retail  By Paroma Bhattacharya  Date: 2019-02-27
  • share
  • Twitter
  • Facebook
  • LinkedIn

Walmart teams up with PhonePe to deploy it as a digital payment option

PhonePe, the India-based digital payments major, has reportedly signed a collaboration deal with Walmart India, the wholly-owned subsidiary of Walmart Inc.. The deal enables PhonePe to serve as a payment option at the 23 Best Price wholesale cash & carry stores of Walmart in the country.

The latest move by the two companies is anticipated to help customers use the PhonePe mobile application to make payments in lieu of their purchases, through the UPI (Unified Payments Interface), the PhonePe wallet, other wallets or the stored debit/credit cards. It will further help customers to make transactions online or via Walmart’s assisted ordering solution.

Credible sources added that this solution allows PhonePe to expand its operational scope in the offline space, with several small kiranas adopting for the same as a reliable payment option. Reports show that Walmart India currently has over a million registered customers who are to be introduced to the PhonePe app, as a part of the latest payment mechanism.

Krish Iyer, the CEO at Walmart India, was reported saying that UPI is presently the exponentially growing digital payment prospect in India, which is providing convenience as well as a seamless experience to the users. He further added that the PhonePe payment system is likely to help the company streamline its business processes and spend extra time with customers at the stores.

According to a report by FnB News, the PhonePe app’s innovative offerings include a range of POS (point-of-sale) devices and interoperable QR codes, which aid micro-merchants, along with other small businesses, in making and accepting digital payments.

Also, these offline partners will now be able to accept faster UPI payments through the UPI QR Code solution of PhonePe and expand their customer base as the app users are directed to the nearby PhonePe merchants within the app, claim sources.



About Author

Paroma Bhattacharya

Email: [email protected]   

Paroma Bhattacharya

Paroma currently works as a content developer for Algosonline, MSF and a series of alike platforms. Fortified with a post-graduation degree in Journalism and Mass Communication, she delved head long into a writing career, creating resourceful and information enriched ...

Read More

More News By Paroma Bhattacharya

MacroGenics, I-Mab team up to develop & market enoblituzumab in China
MacroGenics, I-Mab team up to develop & market enoblituzumab in China
By Paroma Bhattacharya

MacroGenics, Inc. and I-Mab Biopharma, a U.S. and China based clinical-stage biopharmaceutical company that is committed to discover and develop biologics in autoimmune and immune-oncology diseases, have recently announc...

ViiV Healthcare announces positive result in TANGO Phase 3 study
ViiV Healthcare announces positive result in TANGO Phase 3 study
By Paroma Bhattacharya

ViiV Healthcare Limited, a pharmaceutical company specializing in HIV treatment, recently announced positive results from Phase 3 TANGO study.

The study was conducted to assess vira...

Skyhawk Therapeutics expands licensing partnership with Biogen
Skyhawk Therapeutics expands licensing partnership with Biogen
By Paroma Bhattacharya

Skyhawk Therapeutics, Inc. has recently announced the expansion of its partnership with Biogen, which was initially announced on January 4, 2019.

The expansion, which leverages on the breadth of SkySTAR™ technology platform from Skyh...