- Thirty-two entities, including Alphabet Inc’s (NASDAQ: GOOG) (NASDAQ: GOOGL) Google Pay, Amazon.Com Inc’s (NASDAQ: AMZN) Amazon Pay, and Reliance Payment Solutions won the Indian banking regulator’s approval for online payment aggregator.
- The Reserve Bank of India assessed 18 other applications, including Walmart Inc’s (NYSE:WMT) PhonePe.
- Also Read: Jack Ma’s Ant Financial Wants To Become Leading Global Payments Aggregator; Clocks 1B Users
- Four applications, including PayTM, failed to cut. They can continue to operate without adding new merchants and reapply within 120 days from the return date.
- Recently PhonePe raised additional funds at a $12 billion valuation reaching $450 million.
- PhonePe plans to deploy these funds to scale up its Payments and Insurance businesses in India and launch and aggressively scale new businesses like Lending, Stockbroking, ONDC-based Shopping, and Account Aggregators.
- India, the second-largest internet market, became a critical overseas market for Walmart and Amazon.Com.
- Price Action: GOOG shares closed higher by 2.26% at $97.10 on Wednesday.
What’s Going On With Bed Bath & Beyond Stock?
Bed Bath & Beyond Inc (NASDAQ: BBBY) shares are moving higher Wednesday following a report suggesting the company has revived Chapter 11 bankruptcy preparations.
