PhonePe has filed for a USD 1.5 billion IPO through a confidential process, potentially valuing the company at USD 15 billion. The offering will feature both new shares and an offer for sale, with backing from Walmart, Tiger Global, and Microsoft. Despite reporting a net loss of USD 194.79 million for FY25, PhonePe remains a major player in India's digital payments market, boasting 600 million registered users.

OnePay, the fintech firm majority-owned by Walmart, is set to introduce cryptocurrency trading and custody services for bitcoin and ether on its mobile app later this year, in collaboration with startup Zerohash. This move is part of OnePay's strategy to become a comprehensive digital finance platform, enhancing its appeal to a broader audience beyond Walmart customers.

Walmart's fintech startup OnePay is launching two credit cards in partnership with Synchrony, moving away from its previous relationship with Capital One. The new cards will include a general purpose card and a store card for Walmart purchases, aimed at enhancing the financial services offered to customers. OnePay continues to expand its offerings, which now include debit cards, savings accounts, and a digital wallet.

The Consumer Financial Protection Bureau (CFPB) has dropped its lawsuit against Walmart and fintech company Branch, which had been accused of violating consumer protection laws. This decision marks a significant development in the ongoing regulatory scrutiny of financial practices within the retail sector.

OnePay, the fintech firm backed by Walmart, is launching OnePay Wireless, a new wireless plan offering unlimited 5G data, talk, and text for $35 a month, activated through its app without credit checks. This move aims to position OnePay as a comprehensive financial service platform similar to international super apps, while also reducing customer costs in partnership with Gigs and AT&T.