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  • Razorpay partners with Axis Bank, NPCI to launch Turbo UPI May 30, 2023 12:03 AM IST

    Razorpay partners with Axis Bank, NPCI to launch Turbo UPI

    Razorpay claims that Turbo UPI can help businesses achieve a significant increase in the success rate of UPI payments by up to 10 percent.

  • ONDC aims to hit 100,000 daily retail orders in next few months May 24, 2023 11:30 AM IST

    ONDC aims to hit 100,000 daily retail orders in next few months

    A new version of the ONDC specs and network agreements is in the works to improve order tracking, provide more order fulfillment options, such as in-store pick-up for customers, and automate the grievance redressal process to a greater extent.

  • PhonePe bags another $100 million from General Atlantic in ongoing $1 billion round May 22, 2023 12:15 PM IST

    PhonePe bags another $100 million from General Atlantic in ongoing $1 billion round

    In January, PhonePe announced raising $1 billion in tranches at a valuation of $12 billion. Since then, the fintech unicorn has raised $550 million from General Atlantic, $100 million from Tiger Global Management, Ribbit Capital and TVS Capital, and $200 million from its largest shareholder--Walmart.

  • ShareChat and Paytm oppose IAMAI, back separate digital competition law in India May 18, 2023 11:51 PM IST

    ShareChat and Paytm oppose IAMAI, back separate digital competition law in India

    Sameer Nigam, the CEO of another IAMAI member company PhonePe has hit back at those opposing IAMAI's views on the matter, terming them as opportunistic.

  • ZestMoney to stop insurance biz, affiliate programmes as it charts revival plan May 18, 2023 10:50 AM IST

    ZestMoney to stop insurance biz, affiliate programmes as it charts revival plan

    Chapman explained how it was critical for fintech businesses to diversify and have different offerings amid rising competition in the space over the last two years. But she said that most of these companies realised that the core lending business is usually the most profitable.

  • MC Interview: We played a good game, we have no regrets, Co-founder Lizzie Chapman after resigning as ZestMoney CEO May 18, 2023 12:46 AM IST

    MC Interview: We played a good game, we have no regrets, Co-founder Lizzie Chapman after resigning as ZestMoney CEO

    As part of its revival efforts, ZestMoney will shut down its insurance business and affiliate programmes and will shift majority of its focus towards its core business of lending and EMI for consumer goods.

  • ZestMoney 2.0: New leadership, assured variable pay for employees & profitability goals set May 16, 2023 10:38 AM IST

    ZestMoney 2.0: New leadership, assured variable pay for employees & profitability goals set

    ZestMoney will be run by new leadership team of Mohit Chhajer, Mandar Satpute and Abhishek Sharma. The startup has 150 employees

  • ZestMoney founders call it quits 2 months after PhonePe deal falls through May 16, 2023 06:45 AM IST

    ZestMoney founders call it quits 2 months after PhonePe deal falls through

    Chapman was the Chief Executive Officer, Sharma served as the firm’s Chief Operating Officer and Anantharaman was the the Chief Technology Officer.

  • How Zomato-backed Magicpin is going all out on its ONDC bet May 12, 2023 03:35 PM IST

    How Zomato-backed Magicpin is going all out on its ONDC bet

    Co-founder and chief executive officer Anshoo Sharma says ONDC could be an inflection point for the hyperlocal commerce platform

  • PhonePe's ONDC app Pincode now completing 5,000 orders a day May 12, 2023 11:42 AM IST

    PhonePe's ONDC app Pincode now completing 5,000 orders a day

    Pincode had earlier said its fill rates were over 90 percent. Fill rates are an essential metric in online commerce as it denotes the percentage of products ordered which get delivered to the consumer.

  • Razorpay to move parent entity to India from US ahead of IPO plans May 09, 2023 09:41 AM IST

    Razorpay to move parent entity to India from US ahead of IPO plans

    While a reverse flip to India is a costly affair, Razorpay will be able to manage the same with its available funding, Sources told Moneycontrol. PhonePe's which recently domiciled to India from Singapore said that its investors had to cough up almost Rs 8,000 crore in taxes.

  • Zomato-backed Magicpin helps ONDC fulfil 10,000 orders a day May 03, 2023 05:59 PM IST

    Zomato-backed Magicpin helps ONDC fulfil 10,000 orders a day

    After integrating with the ONDC in March this year, Magicpin brought 22,000 restaurants on to the platform and said it would add 5,000 more over the coming three months

  • PhonePe launches UPI Lite for smaller payments, two months after Paytm May 03, 2023 01:20 PM IST

    PhonePe launches UPI Lite for smaller payments, two months after Paytm

    Users can instantly activate the UPI feature on their PhonePe app through a simple process that does not involve any KYC (know your customer) authentication and also create a UPI Lite account

  • PhonePe's ONDC app Pincode records 100% growth on a daily basis April 26, 2023 07:02 AM IST

    PhonePe's ONDC app Pincode records 100% growth on a daily basis

    Specific app for ONDC important to create a clear narrative in consumer's mind, says PhonePe executive

  • Govt wants main platforms to come to ONDC, not new e-comm apps for joining April 26, 2023 08:49 AM IST

    Govt wants main platforms to come to ONDC, not new e-comm apps for joining

    Commerce and Industry Minister Piyush Goyal said that ONDC should remove those who do not bring their main platform onto the network.

  • PhonePe to launch app store in India; challenges Google supremacy April 24, 2023 01:08 PM IST

    PhonePe to launch app store in India; challenges Google supremacy

    This app store is designed to offer services that are highly local in nature, driven by customer context that aims to assist developers with “high quality” user acquisition via multilingual solutions, as stated by an internal company document, reported TechCrunch.

  • Axis Bank follows PhonePe, develops new platform for groceries on ONDC April 17, 2023 03:07 PM IST

    Axis Bank follows PhonePe, develops new platform for groceries on ONDC

    Axis has already designed the platform and will be launching it as a part of its e-commerce segment called Grab Deals. The platform will initially have only groceries, but will soon expand to other segments.

  • PhonePe gets additional $100 million fund from General Atlantic April 12, 2023 04:40 PM IST

    PhonePe gets additional $100 million fund from General Atlantic

    With this fresh funding, the Walmart group firm has raised USD 750 million till date.

  • PhonePe raises another $100 million from General Atlantic, others April 12, 2023 03:04 PM IST

    PhonePe raises another $100 million from General Atlantic, others

    In January, PhonePe announced raising $1 billion in tranches at a valuation of $12 billion. Since then, the fintech unicorn has raised $350 million from General Atlantic, $100 million from Tiger Global Management, Ribbit Capital and TVS Capital, and $200 million from its largest shareholder--Walmart

  • PhonePe’s Pincode app: How it stacks up in week 1 of use April 10, 2023 01:39 PM IST

    PhonePe’s Pincode app: How it stacks up in week 1 of use

    Can Pincode — which had over 10,000 downloads on Google Play Store at the time of writing — match up to other apps? Let’s find out.

  • ZestMoney to lay off 20% of workforce after PhonePe deal collapse April 08, 2023 08:17 AM IST

    ZestMoney to lay off 20% of workforce after PhonePe deal collapse

    Founders and the top leadership team of ZestMoney held a Townhall on April 6 to inform the layoffs to employees. The company had about 450 employees and is planning to lay off across its workforce.

  • Bombay High Court dismisses PhonePe's trademark lawsuit filed against BharatPe's BNPL arm PostPe April 06, 2023 06:25 PM IST

    Bombay High Court dismisses PhonePe's trademark lawsuit filed against BharatPe's BNPL arm PostPe

    In 2019, PhonePe filed a suit against BharatPe in the Delhi High Court alleging that by using the trademark ‘BharatPe’, the company had infringed upon the registered trademark of‘PhonePe’.

  • ONDC wants platforms like Amazon, Flipkart, to join both seller and buyer sides of network April 05, 2023 04:41 PM IST

    ONDC wants platforms like Amazon, Flipkart, to join both seller and buyer sides of network

    ONDC's CEO T Koshy said that the discounts they are providing small incentives to the merchants to bring their catalog online as it's a cost for them. "We are trying to make good of those costs for six months to nine months, then by the time it would build up its own momentum," he said.

  • We need to chart our own destiny: PhonePe's Sameer Nigam on ecommerce foray, competing with Flipkart April 05, 2023 02:34 PM IST

    We need to chart our own destiny: PhonePe's Sameer Nigam on ecommerce foray, competing with Flipkart

    On the sidelines of the launch of Pincode, PhonePe co-founder Sameer Nigam talks about the e-commerce foray, plans with lending, why the acquisition of ZestMoney and more.

  • PhonePe kicks off digital lending pilots, may apply for NBFC licence: Co-founder and CEO Sameer Nigam April 05, 2023 06:30 AM IST

    PhonePe kicks off digital lending pilots, may apply for NBFC licence: Co-founder and CEO Sameer Nigam

    PhonePe’s digital lending forays come on the heels of its massive $1 billion fundraise that it announced earlier this year at a $12 billion valuation, which made it India’s most-valued fintech startup