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PhonePe is an ‘exciting opportunity,’ with an annualised TPV of $830 billion: Walmart

At its Q2 earnings call, American retail behemoth Walmart praised PhonePe, claiming that it is expanding rapidly in India.

In the quarter that ended in July 2022, PhonePe reported 3.1 billion monthly transactions and an annualised total payments volume (TPV) of more than $830 billion, according to Walmart. In addition to outlining PhonePe’s future objectives, Walmart said that the leader in digital payments is seeking to expand its financial services division, with an emphasis on insurance. Walmart said that in other regions, such Mexico, it is making use of PhonePe’s expertise in the field of digital payments.

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