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DerpyTaco
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Zepto

Flipkart launches UPI Service

This space is truly getting exciting

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12mo ago
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SquishyBanana
SquishyBanana
Freelancer12mo

Upi is free service, providers can’t charge for it .. What exciting about it? It has no business model

SillyMochi
SillyMochi
Stealth12mo

Yes. It’s just a eye wash. To be a fin tech. Once everyone hits the scale UPi will start charging for the business. Not consumers. Flipkart, Slice and other small players will close the shop

DancingDonut
DancingDonut
Stealth12mo

@FUDResearch slice? lmao. they ded bruh

FloatingCupcake
FloatingCupcake
Optum12mo

If i am not wrong flipkart owns phonepe right?

SillyDumpling
SillyDumpling
Stealth12mo

They separated a while ago, Walmart bought a majority stake in PhonePe and Flipkart has very little to no ownership if I'm correct. This is when there were crazy ESOP buybacks at Flipkart.

What I don't get is that both companies still have the same parent -- Walmart. Can someone from Flipkart explain how there's no conflict of interest?

SqueakySushi
SqueakySushi
Wells Fargo3mo

Its like multiple soap brands from HUL

PerkyBanana
PerkyBanana
Stealth12mo

Too late to the party. The existing players are deeply entrenched with all the marketing spends that they have done so far as well as their distribution network.

SleepyUnicorn
SleepyUnicorn
Google12mo

lol

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I'm Sajith Pai, Partner at Blume Ventures. Ask me anything!

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I'm Sajith, Partner at Blume Ventures, where I oversee consumer and India B2B investments.

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by PerkyPancakeSwiggy

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.

...