The Silicon Review
26 Febuary, 2019
Walmart has joined hands with Indian digital payment platform, PhonePe to introduce it as a payment method for their 23 ‘Best Price’ wholesale cash and carry stores.
According to Sameer Nigam, CEO of PhonePe, the partnership will not only deepen the ties with Walmart but will also help to expand its offline merchant network.
The new development will enable customers to carry out payments through the PhonePe app for their purchases. The payments can be done through the PhonePe wallet, United Payments Interface (UPI), and other wallets along with stored debit and credit cards.
The customers will have two options to make the payments. The first option is through online and the second option is through assisted ordering solution of Walmart.
The ordering solution will help PhonePe to boost its scope of operations physically with Kiranas, small neighborhood retail stores, which will use PhonePe as a payment option. In India, Walmart’s registered customers will be now introduced to the digital payment platform.
The new partnership could also pave the way for PhonePe to assist the small retailers in the majority of the cases to receive payments from their customers digitally.
Krish Iyer, CEO of Walmart India stated that UPI is booming in India which is delivering a seamless and convenient experience to the users. PhonePe’s system will assist its members to streamline the business processes and spend more time in their stores with customers,
The new development will boost the relationship between both the companies.
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