Walmart teams up with PhonePe to deploy it as a digital payment option
Category: #retail  By Pankaj Singh  Date: 2019-02-27
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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.



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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