Walmart PhonePE’s digital payment platform is ready to acquire the Mobile HomeGrown Indus OS platform with a $ 600 million cash price. And it is seen as a development that has a long-term portent for the Google Play Store, which currently enjoys great domination in the Android market.
The reported agreement, first reported by the Entrackr site, is expected to help strengthen the switch, which is an integrated phoneEPE platform for food, groceries, shopping and travel. The OS Indus team will also lead the switch operation and help phoneeepe build an application ecosystem.
For the record, the Indus OS is said to have 100 million users at the Android application store called the Indus App Bazaar. This application has more than 1.1 billion downloads and 400K applications in all categories listed on the platform.
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PhonePE tends to integrate the bazaar switch and app
PhonePE is one of the Integrated Payment Interface Payment platform (UPI) in this country. In April, processing 1.19 billion UPI transactions worth Rs 2.34 lakh Crore, capture almost 45% of the market.
This is the second acquisition of Phoneeep after taking over retail Zopper in July 2018. Phoneeepe valued at $ 5.5 billion last year, after infusion of $ 700 million led by US retailers Walmart.
PhonePE launched a switch in June 2018. The company charged a commission on income from the business produced through the ‘switch’ platform of application partners.
The Bazaar app by Indus OS is one of the largest alternative application stores in India. It has a choice of more than 4,00,000 applications in regional languages and is also the fastest growing content market. It also offers options such as specific targeting and monetization to developers. The previous platform has collected around $ 20 million from Samsung Venture, Omidyar Network, JSS Ventures, Ventureast and Affle. It has collected more than $ 25 million from a group of investors from the start.
Post new development, existing investors will come out of the company, while his team, along with the founders, will join Phoneeepe.
PhonePE will aim for ‘synchronization’ between shops’ switch ‘and the Shiteos’ application and Bazaar Indusos.
The Bazaar application platform also has integration with Samsung’s original equipment manufacturer (OEM), and this can increase the reach of Phonepe to a wider audience.
What will be the impact on the Google Play Store?
But what does this development mean for the Google App Store? It is very clear that many Indian companies are quite annoyed by their attitude. Last year Paytm joined the Alternative Desi to play stores with the Mini App Store itself.
Indian companies are cut by the Google Play Store rules, which they claim arbitrarily. Many companies fight Google’s plan to demand 15-30% companies to use the App Store and process payments on other applications.
Google’s actions have been questioned by legal experts who question their rights to play gatekeepers and policy makers due to clear interest conflicts. Android holds more than 90% of the shares in the Indian cellular market and the number for Google plays judges, judges and executioners, is a general belief.
Analysts open that although the Google Play Store is a player that is too dominant at this time, but efforts such as Phoneeepe and Paytm will be in the long run of Google Curtail hegemony.
It is also important to show that Google Pay, Paytm, and Phonepe Google are all major rivals in the Digital RS Digital Digital Payment Market.
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