.....owned PhonePe clocks 42.4 million UPI transfers.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

____owned PhonePe clocks 42.4 million UPI transfers.

A	Flipkart
B	Amazon
C	Snapdeal
D	Paytm

Explanation:

Detailed explanation-1: -In April 2016, the company was acquired by Flipkart and as part of the acquisition, the FxMart license was transferred to PhonePe and rebranded as the PhonePe wallet. PhonePe’s founder Sameer Nigam was appointed as the CEO of the company.

Detailed explanation-2: -Synopsis. Ecommerce major Flipkart, which acquired PhonePe in 2016, has fully separated its ownership from the digital payments platform, both firms said in a joint statement on Friday.

Detailed explanation-3: -PhonePe was founded by ex-Flipkart executives Nigam, Rahul Chari and Burzin Engineer, and was acquired by the Sachin and Binny Bansal-founded company in 2016. In 2018 Flipkart was acquired by Walmart, and PhonePe was part of the transaction as well.

Detailed explanation-4: -Indian e-commerce giant Flipkart acquired PhonePe in 2016 and moved the payments firm’s entire base to the country from Singapore. Now, both companies have confirmed that Flipkart no longer owns a stake in PhonePe. Both companies have now announced the completion of the full ownership separation of PhonePe.

There is 1 question to complete.