Flipkart Acquires Payment Firm PhonePe

Bengaluru: Flipkart on Friday announced the acquisition of PhonePe, a city-based mobile payments company co-founded by the e-commerce giant's two former employees. PhonePe, co-founded by Sameer Nigam and Rahul Chari, is building India's first Unified Payments Interface (UPI) based product. UPI, planned to go live in April, will allow users to transact using their unique identification and mobile phone number or virtual payments addr...