- 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.
Canadian Solar Sees Q4 Revenue Of $1.80B – $1.90B, Vs. $2.11B Estimate
For the fourth quarter of 2022, the Company expects total revenues to be in the range of $1.8 billion to $1.9 billion. Gross margin is expected to be between 16% to 18%. Total module shipments recognized as
