Walmart India, wholly owned subsidiary of Walmart Inc., and PhonePe, one of India’s fastest growing payments platforms, today announced that they have entered into a partnership to launch PhonePe as a payment option at Walmart India’s 23 Best Price Modern Wholesale “B2B Cash & Carry” stores.
Under the new collaboration, registered members of Walmart India’s Best Price Stores across the country will now be able to pay for their purchases via the PhonePe app on their mobile phone, drawing on funds from a bank account using the secure Unified Payments Interface (UPI) or from a PhonePe wallet, third-party wallet, credit card or debit card. Registered members will be able to make payments with PhonePe in store, as well as via the Best Price online platform and assisted-ordering solutions, a statement issued to UNI here said.
With over one million Best Price members, mainly kiranas, now being introduced to PhonePe’s digital payments, the company is accelerating its push to drive offline transaction traffic as the next step for the adoption of digital payments in India. PhonePe recently surpassed one million offline merchants on its platform following partnerships with major retail chains across India. The cooperation with Walmart India is set to accelerate PhonePe adoption by kiranas and other small businesses, and help introduce them to digital payments.
Mohammad Khader Hussain, a Hyderabad kirana business owner and member of Best Price Store, Hyderabad, said,“PhonePe is an added benefit as I can pay directly and instantly at a Best Price store now. It is a secured payment method and I will not have to stand in queues in the bank. I can therefore spend more time at my store and take care of my customers,” the release quoted him as saying. (UNI)
