Bangalore-based PhonePe’s revenue increases 2.4X in FY22, while its outstanding losses surpass $1 Bn

The unified payment interface, or UPI, the ecosystem has seen the rise of Walmart-owned PhonePe, which routinely dominates in terms of volume and value. Its scale, which more than doubled to reach Rs 1,646 crore during FY22, further demonstrates its dominance in UPI payments. However, even if more slowly, the number of unpaid losses has […]

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