Walmart could acquire stake in NUE as PhonePe approached by applicants
Shortpedia
Content Team
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US retail giant and Flipkart and PhonePe parent Walmart could acquire a stake in one of the upcoming New Umbrella Entities (NUEs), which would have the license to operate a pan-India retail payments system, similar to that currently operated by the National Payments Corporation of India (NPCI). In August this year, the Reserve Bank of India (RBI) released the guidelines for entities looking to apply for an NUE license.
