PhonePe says it will by the end of this year create an Automated Teller Machine (ATM) network of 2 million users, helping the Walmart-owned service to fight rivals Alibaba-backed Paytm, Google Pay and Amazon Pay as they compete in India’s crowded digital payments market. The service—billed as India’s first and world’s largest—enables neighbourhood stores to act as ATMs for PhonePe users.
It had a pilot run in Delhi-NCR and is now being rolled out across 500,000 shops in 300 cities. Subscribers use the PhonePe app to locate shops offering the ATM ...
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First Published: Fri, February 07 2020. 10:42 IST
