Other developments of the Flipkart Walmart deal
Post the Flipkart-Walmart deal, Flipkart’s digital wallet PhonePe has got a direct entry into the U.S market to fight against another set of big players, as per media reports.
In a conference call made by Walmart, the retail giant said that it wants to use Flipkart’s payment capabilities in the US market soon.
Latest media reports claim that PhonePe has hit $20 billion annualised gross transaction run rate.
Also, eBay plans to relaunch its India business after selling its stake in e-commerce company Flipkart to Walmart in the $16 billion takeovers of the fast-growing Indian startup.
Amazon’s reaction to all this
US online retail giant Amazon recently invested fresh capital of Rs 2,600 crore into its India business unit, Amazon Seller Services, to beef up its war-chest against domestic rival and Indian e-commerce market leader Flipkart.
The company has been launching innovative India-first initiatives as well as completely new offerings like Echo, Prime, Prime Video and Prime Music, the spokesperson added.
The fresh funds are designed to provide more arsenal to Amazon.in, which has been aggressively investing in expanding infrastructure and adding solutions to enhance consumer and seller experience.
Amit Agarwal, country head of Amazon India, has claimed that the global e-commerce giant is ahead of Flipkart both in gross merchandise value (GMV) and net sales. He said,
“I think Amazon India is priceless. We are missionaries and here to serve customers for decades.”
With all these developments taking place after the finalisation of the Flipkart-Walmart deal, one sits back to think over how this deal is going to shape the future for e-commerce in the country as well as globally.
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