India: Flipkart injects $66m in payments arm PhonePe to take on rival Paytm

PhonePe co-founder Sameer Nigam. Photo: Livemint

Online retailer Flipkart has infused about ₹452 crore ($66 million) into its payments arm PhonePe Pvt. Ltd, at a time when the UPI-based (unified payments interface) platform is expanding aggressively to take on SoftBank-backed rival payments start-up Paytm.

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