PhonePe Partially Spins Off From Flipkart to Focus its Efforts on Being India’s Largest UPI

Bangalore-based Unified Payments Interface (UPI) PhonePe recently announced that it will be “partially” spinning off from Flipkart (acquired by Walmart) to spearhead a focused effort to be India’s biggest UPI. The partial spin-off is said to have been developing for over a year and will reduce Flipkart’s stake in the company from 100% to 87%...