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Walmart-owned PhonePe calls off deal to acquire fintech startup ZestMoney

Walmart-owned digital payments firm PhonePe has decided to halt its proposed acquisition of Goldman Sachs- and Xiaomi-backed ZestMoney, a Bengaluru-based buy now, pay later (BNPL) platform. The deal, which was poised to fetch anywhere between $150-200 million and $300 million, has hit a snag over lapses in due diligence, disagreements over valuation, sustainability of the business, and shareholding structure of ZestMoney, according to people familiar with the matter. The collapse of the deal is ...
Peerzada Abrar Priya Sharma Lizzie Chapman Ashish Anantharaman Goldman Sachs Network For Digital
Source: rediff.com

Walmart-owned PhonePe calls off deal to acquire fintech startup ZestMoney

ZestMoney By Peerzada Abrar Lapses in due diligence, valuation disagreements, funding winter, tough regulatory environment, fintech slowdown being cited as reasons. Walmart-owned digital payments firm PhonePe has decided to halt its proposed acquisition of Goldman Sachs- and Xiaomi-backed ZestMoney, a Bengaluru-based buy now, pay later (BNPL) platform. The deal, which was poised to fetch
Peerzada Abrar Ashish Anantharaman Priya Sharma Lizzie Chapman Goldman Sachs Network For Digital

UPI payments of more than Rs 2,000 to be charged at 1.1% starting April 1; check details

The interchange pricing will be introduced on April 1, 2023, and then again reviewed by September 30, 2023. The introduction of interchange fees is aimed at increasing revenue for banks and payment service providers.
World Bank Committee On Payments National Payments Corporation Of India National Payments Corporation Prepaid Payment Instruments Unified Payments Interface

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