Retailer partners with PhonePe to launch a unified payment interface (UPI)
Kirana owners will benefit the most
Members shopping at Walmart India’s Best Price stores can now make use of the PhonePe app to pay for their purchases. The system is now available to the one million plus members and can be used across all 23 Best Price stores in the country.
PhonePe is a digital payments platform that links directly to shoppers’ bank accounts. The PhonePe wallet is a convenient alternative for many kirana store owners that do not have credit or debit cards and relies mainly on cash transactions.
Walmart India president and CEO Krish Iyer said, “the PhonePe payment system will help our members streamline their business processes and spend more time in their stores with customers.”
Kiranas can accept PhonePe payments
The introduction of the PhonePe UPI is part of Walmart India’s “Mera Kirana” programme, an initiative by the retailer to help traditional stores modernise. With kirana store owners on the PhonePe platform, these owners also have the option of introducing PhonePe as a payment channel in their own stores.
Find out more information about Walmart here.
Retail Analysis Asia