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In 2014, Flipkart invested in Ngpay to strengthen the mobile payment services since there was an increased focus on mobile ecommerce; Flipkart reported that mobile ecommerce was contributing 50% of its sales. Investment in Ngpay was followed by Flipkart shutting Payzippy – the in-house payment gateway and merged it with Ngpay.
In December 2020, Flipkart and PhonePe declared a partial split, with Walmart maintaining its majority ownership in PhonePe and the two entities now functioning independently. [ 22 ] PhonePe announced the acquisition of $350 million from General Atlantic, a US growth equity firm, at a pre-money valuation of $12 billion. [ 23 ]
Walmart's Flipkart marketplace and PhonePe payments business in India could be $100 billion businesses buoyed by strong growth, the retailer's chief financial officer said on Wednesday at an ...
India has an Internet user base of about 690.0 million as of November 2023, about 40% of the population. [1] Despite being the second-largest user base in world, only behind China (1.079 billion, 48% of population), the penetration of e-commerce is low compared to markets like the United States (266 million, 84%), or France (54M, 81%), but is growing, adding around 6 million new entrants every ...
Off-price, fast casual, and the used car market may be the biggest consumer wins in 2025. Consumer stocks 2025: Watch out for discount retailers and fast casual chains, tariffs remain a wild card ...
Consumer Price Index Summary, U.S. Bureau of Labor and Statistics. Accessed January 16, 2025. Producer Price Index News Release summary, U.S. Bureau of Labor and Statistics. Accessed January 15, 2025.
Ekart logistics or Ekart courier is an Indian courier delivery services company, headquartered in Bangalore, Karnataka. [1] [4] A subsidiary of electronic commerce company Flipkart Pvt. Ltd., it is run by Instakart services Pvt. Ltd. [5] [6]
The U.S. State Department approved a foreign military sale to Zambia of military helicopters and related logistics support for an estimated cost of $100 million, the Pentagon said in a statement ...