PhonePe among top fintech companies with $1.3 trillion total payment value: Walmart

Walmart, the world’s biggest retailer, said its digital payments firm PhonePe has a total payment value (TPV) of $1.3 trillion, equalling some of the largest fintech players in its home market of the US, indicating the Indian firm’s market cap potential when it lists.

“PhonePe is doing roughly $1.3 trillion in total payment value. And that is at the same scale as the largest fintech players in the United States, to put that in context, that have market caps that are in some cases, north of $100 billion,” John David Rainey, chief financial officer at Walmart said during Morgan Stanley Global Consumer and Retail Conference. “PhonePe could be one of the leading payment companies in the world, certainly outside of China in the near future.”