Tuesday, May 21, 2024
Outlook.com
Outlook India
Outlook Business

Walmart

While the app store will be free for a year, PhonePe has not finalized a pricing structure for the subsequent year, though the fintech indicated that it will be in the "low single digits" in addition to the basic fee

More than 80% of the participating suppliers were shortlisted to move to the next round with the potential to join the Walmart Marketplace

Walmart's CFO, John David Rainey, mentioned that both Flipkart and its digital payments arm, PhonePe, are likely to launch IPOs at some point

Building new products and sourcing partnerships is aligned with Walmart’s goal to triple exports out of India to $10 billion annually by 2027

Flipkart's in-house marketplace will provide a variety of financial products, including personal loans up to Rs 5 lakh

It fell down from 110 deals last year to just 72 this year, amounting to $2.9 billion

The e-commerce unicorn is willing to explore a new strategy that eyes scaling some selected private labels instead of scaling a group of in-house brands

The platform, which has 450 million customers, will be distributing loans of up to Rs 5 lakh which can be repaid in up to three years, it said in a statement

PhonePe has now raised a total of $850 million of primary capital in the current round till the end of May

The affected employees will receive three months of severance pay, medical, dental and vision coverage through the Consolidated Omnibus Budget Reconciliation Act (COBRA)