New opportunity in India for Walmart’s PhonePe —

Photo by Priscilla Du Preez on Unsplash

Recent government action against virtual payment system Paytm has resulted in other services, such as Walmart’s PhonePe, becoming more in demand:

Paytm app downloads fell 20% last week, versus the previous week, data from market intelligence firm Sensor Tower shows, while rival apps including Walmart’s (WMT.N), opens new tab PhonePe and Google (GOOGL.O), opens new tab Pay recorded an average 52% growth. PhonePe in particular registered a 76% downloads growth.

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