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Why Flipkart built UPI ?

Walmart owns majority share in both PhonePe and Flipkart, PhonePe is a separate entity from Flipkart, but why is Flipkart itself entering into UPI ecosystem when it is dominant in e-commerce and PhonePe is dominant in UPI and payments. Why is Walmart letting both organisations go against one another by building Flipkart UPI seems weird and waste by burning money. Is it hoping Flipkart UPI to get market share from Amazon Pay or something else is at play here ? Why not pitch PhonePe inside Flipkart app heavily instead ?

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BiryaniEnthu

Stealth

7 months ago

Because there is a huge market waiting to be captured. Paytm had some loss, Google and PhonePe were handed notices for crossing the permitted market share. Also, it check rise of competition in the sector. Consumers will benefit until this gets stagnant again. Also, check out the TOI ad of Flipkart, brilliant user onboarding technique
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ChiggyVsTomato

Swiggy

7 months ago

Saw that ad but shouldn't government look at Flipkart UPI and PhonePe as similar businesses if the promoter is same, I know these are different organisations but the parent org would still hold monopoly share in UPI by just launching 2 apps instead of keeping one. Valid point for Walmart, it makes sense to try to capture market via new app if PhonePe was already alerted for limit breach, missed that part 👍🏽
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BiryaniEnthu

Stealth

7 months ago

In my opinion it is a brilliant strategy of Walmart to keep maximum market share while distributing among daughter companies. I'm sure the authorities must have checked and approved this with enough details
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Qurious

Flipkart

4 months ago

The main reason was that UPI payments are made at a great frequency. This new move gets users more frequently on the app and increases chances of them using the app for shopping.
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