Flipkart acquires mobile payment startup PhonePe
Flipkart has acquired Bangalore-based mobile payment startup PhonePe for an undisclosed amount. The startup is working on a digital payments app that will enable instant fund transfer and payment via a single identifier like the Aadhaar number. PhonePe, which will function as an independent business unit, is Flipkart’s third major acquisition in the payments space after NGPay and FX Mart.