A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
Search Payments News
September 29, 2023
On the web
January 27, 2023
On the wires
Walmart-backed PhonePe said on Thursday it raised $350 million from private equity firm General Atlantic at a $12 billion valuation, making it India's most valuable payments firm and giving it funds to expand into the lucrative lending space. A second tranche of investments from marquee global and Indian investors is expected to close next month, a PhonePe spokesperson said, declining to give further details.
November 3, 2022
On the web
The Economic Times
“The Centre will not “actively intervene” in the matter of conflicting demands by India’s top payment providers over the issue of enforcing a 30% cap on the market share of. apps operating on the unified payment interface (UPI), top officials told ET. This follows contrasting demands on the issue by digital payment providers in recent weeks.While Paytm, the third ranking payment app “believes market capping should be implemented as per the timeline (December 2022), “ market leaders Walmart-owned PhonePe as well as Google Pay had independently approached UPI regulator National Payments Corporation of India (NPCI) for an extension of the deadline by at least three more years.Senior officials told ET that the mandate to decide on this issue lies with the NPCI and the Reserve Bank of India. However, the Centre will monitor any decision that could potentially affect consumers, they added….As per latest NPCI data for the month of September, PhonePe and Google Pay had market shares of 46.7% and 33.3%, respectively, in terms of volumes of UPI transactions handled.”
September 6, 2022
On the web
“Unified Payments Interface (UPI) leader PhonePe is launching its own payment gateway as an extension to its current Quick Response (QR) Code-based UPI payment service and in-app payments. The company will be competing with the likes of Paytm, Pine Labs and Razorpay as it may look at targeting large offline players as well as small and medium businesses to offer its payment gateway to, according to sources. “PhonePe had been working on this for a while. Around two months ago, they informed their payments partners that they are working on a payment gateway. They had reached out to payment partners in good faith since they will be competing with them,” said a payments executive aware of PhonePe’s plans. While the Walmart-backed company did not comment on the development, it has recently added a tab for its payment gateway on its website as one of its offerings for businesses.”
Give us your email address or link to our RSS feed and we’ll push the daily Payments News headlines to you.
Top Stories from Payments News
- Ghipss CEO: Real-Time Payments Is Now 65% Of Transactions on Our Platform
- Mastercard: Consumers Too Comfortable with Cash for CBDCs to Take Off
- US Consumer Watchdog Hands Wall Street Rare Win With Big Tech Crackdown
- Visa Australia Proposes Preferential Interchange Rate for SMEs
- Apple Highlights Apple Pay Card Balance Feature in UK, as It Begins Slow US Rollout
- Adyen Launches Capital for Australia Platform Customers
- New Visa Report Tells Consumers to Stay Alert this Holiday Shopping Season
- Payments-App War Drags Banks Into Discomfort Zone
- Generation Alpha Set to Be Most Entrepreneurial Yet, as New Research Reveals Expectations for a World of ‘Ultimate Convenience’
- Payments Views: 6 Generative AI Payments Use Cases and 6 Actions to Evaluate your GenAI Strategy
Glenbrook Payments Boot camp®
Register for the next Glenbrook Payments Boot Camp®
An intensive and comprehensive overview of the payments industry.
Train your Team
Customized, private Payments Boot Camps tailored to meet your team’s unique needs.
Recorded, one-hour videos covering a broad array of payments concepts.
Comprehensive books that detail the systems and innovations shaping the payments industry.