Mumbai, Feb 26 : Walmart India and Flipkart-owned PhonePe on said that they had entered into a partnership to launch PhonePe as a payment option at Walmart India’s 23 Best Price Modern Wholesale 'B2B Cash & Carry' stores.
Walmart’s `Best Price' stores cater to the needs of different business customers by providing relevant products and solutions to individual segments. These stores target resellers, including kiranas and electronic outlets along with offices, institutions, hotels, restaurants, and caterers.
The new partnership will allow registered members of Walmart India’s 'Best Price' stores to leverage different payment options on the PhonePe app, including Unified Payments Interface (UPI), PhonePe wallet, third-party wallet, credit and debit card.
This partnership makes UPI payments available for the first time at Best Price Cash & Carry stores.Further, the collaboration will not be limited to Walmart India’s stores, but also extend to the retailer’s Best Price online platform and assisted-ordering solutions.
According to PhonePe, this collaboration with Walmart India is expected to accelerate the payment platform’s adoption by kiranas and other small businesses.The company has been aggressively pushing for offline adoption of its platform, since mid-last year.
Krish Iyer, President and CEO, Walmart India, said, ''This initiative reiterates our commitment to help kiranas and other small businesses to prosper. The PhonePe payment system will further help our members streamline their business processes. By using PhonePe in our B2B cash-and-carry stores, our members are contributing to India’s growth as an efficient digital economy.''
Commenting on the partnership, Sameer Nigam, CEO & Founder, PhonePe said, ''We have been working closely with the Walmart India team to deepen our ties, and the launch of PhonePe’s payment solutions in Best Price Stores and on www.bestprice.in, the B2B e-commerce platform, is a step in that direction.
PhonePe has been aggressively expanding its merchant network among small businesses to enable them to accept digital payments. With this partnership, we will be able to help these businesses digitize all their payment transactions-- from taking payments from consumers to paying at Best Price Stores for their own purchases. ''