The device will allow IOCL customers to pay using UPI, credit and debit cards, PhonePe wallet, or other external wallets including JIO money and Freecharge.
A deal with Walmart would give Flipkart much needed muscle in its fight against Amazon, which has committed to investing $5 billion in India as it expands aggressively, including into online grocery deliveries
The advanced discussion between Walmart and Flipkart involves various options including acquiring stakes from early investors of the Indian e-tailer to clear the way for a considerable stake.
Mobile and computer accessories such as memory cards, mobile chargers are available at a discount of up to 80 percent, whereas Samsung’s headphones are available for price beginning starting as low as Rs 649
It is expected that Jabong will now be presented as a premium brand focusing on merchandise upwards of Rs 2,500 while Myntra will concentrate mostly in the mass premium category.
The company’s revenues for the period stood at Rs 19,854 crore, up 29 percent compared to Rs 15,403 crore, earned in the previous financial year, regulatory filings revealed.
Walmart could buy a 15 percent to 20 percent stake in Amazon.com Inc's main competitor in India, the newspaper said, citing two anonymous sources.
Patanjali recently tied up with e-commerce players like Amazon.in and Flipkart.com for marketing its products.
The company is currently in talks with several businesses with high-frequency transactions in sectors such as food delivery, ticketing, entertainment for exclusive partnerships over the next six months.
Flipkart had launched the MarQ brand in October last year and currently sells microwave ovens, TVs and washing machines under the brand.
The deal also signifies an increasing attempt by Flipkart to maintain an edge over rival Paytm which is also expanding its online marketplace - Paytm Mall.
Kalra's exit comes at a time when Snapdeal is trying to get back on its feet in the market after facing a turbulent year.
The step is expected to check the practice of e-tailers inflating prices and offering fake discounts on products.
Banks will look at finding their niche but focus will remain on their core lending and deposit business
Shopclues expects an exciting year ahead as it plans to launch smartphones. Cofounder Radhika Agarwal spells out the company's strategy for 2017.
A News18 investigation has found that spurious manufacturers and counterfeit sellers are making hay using loopholes in the Information Technology Act. Meanwhile, online retailers are shrugging off responsibility by claiming to be intermediaries.
Early stage deals were sluggish post-demonetisation. But investments bounced back in second half of 2017 and unicorns gained the most.
Flipkart Group on Wednesday said it disbursed USD 100 million for repurchasing the employee stock options (ESOPs) of over 3,000 present and past employees across the group companies including Myntra and Jabong besides Flipkart.
US-based e-commerce firm Amazon claims to be the market leader in India dismissing industry reports
Redseer this week ranked home-grown e-commerce firm Flipkart over global rival Amazon as the most trusted brand in online retail in India.
Bangalore based online marketplace Flipkart has termed rumors of its CEO Kalyan Krishnamurthy quitting as malicious and baseless.
The report which takes into account the Diwali festival weeks also said that both the companies suffered on the scoring due to a decrease in satisfaction in the consumer experience post-delivery.
According to recent data from global job site Indeed, four unicorns - Snapdeal, PayTM, ShopClues and Flipkart - make up around 90 per cent of all job postings.
In August, Flipkart said SoftBank's Vision Fund, the world's biggest private-equity fund, had committed to the deal, giving the Bengaluru-headquartered online retailer greater firepower to compete with Amazon.com.
Flipkart Director (Marketplace) Nishant Gupta said the company has taken a number of steps over the last one year to improve customer experience as well as that of sellers on its platform.