PhonePe
Digital payments
India's largest digital payments app, built on UPI, adding insurance, lending, investing and the Indus Appstore for consumers and small merchants.
Digital paymentsSince 2016Bengaluru, India
How it started
Came with Flipkart.
2018bought by Walmart
Flipkart bought PhonePe in 2016, and Walmart gained its majority stake when it invested in the Flipkart group in 2018; PhonePe was later separated from Flipkart.
How big it is
How big is PhonePe?
700MRegistered usersApril 2026
50MRegistered merchantsApril 2026
Its place in Walmart
Walmart's payments bet in India.
PhonePe gives Walmart a fintech arm in India inside Walmart International; Walmart owned about 73% at January 2026 ahead of a potential listing.
Who it competes with
GGoogle PayPPaytmAAmazon Pay
What Walmart does not disclose
- PhonePe revenue or profit in Walmart's reports (folded into Walmart International)
- PhonePe share of Walmart sales
- Transaction count or payments value in Walmart's reports
The group behind itWalmart
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Sources
Every number on this page comes from Walmart's own reports.
- Walmart Form 10-K for fiscal year ended January 31, 2026: majority stakes in Flipkart and PhonePe since 201… ↗
- Walmart to Invest in Flipkart Group, India's Innovative eCommerce Company ↗
- About us: PhonePe App launched in 2016, the year Flipkart acquired PhonePe ↗
- PhonePe Surpasses 700 Million Registered Users, Accelerates Growth Momentum ↗
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