WALMART- PHONEPE RECEIVED FRESH FUND

Walmart -owned digital payments firm phonepe received Rs 427 cr from singapore based holding company.

        The funding is expected to help the company to take chance against the rivalry competition from Alibaba backed paytm,Google pay and Amazon pay. phonepe has received large chunk of 

  share for funding since Walmart acquisition of Flipkart in 2019.During 2018,2019 phone received over $700 million in funding .The Banglore based company is investing about $800 cr in this year on their marketing activities.major chunk of it  will go for television ads .and an equaly big proportion will spent on ground over 300 cities.

According to Walmart international CEO Judith MCkenna Phonepe's ambition is to be India's largest transaction plantform anchored in payments.The firm which has 200 million registered users and 20 million active users witnesses 500 million monthly transactions .The company also witnessed total payment value(tpv) of $180 billion and has 10 million merchants.