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Walmart’s PhonePe Is Launching An App Store To Compete With Google Play

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Walmart's PhonePe Is Launching An App Store To Compete With Google Play

(CTN News) – The fintech decacorn PhonePe is poised to challenge Google in the app store market with the launch of a store for Android users in India.

In the app store, customers will have access to hyper-localised services based on their preferred language and search history. Through multilingual solutions, developers will also be able to acquire new users.

Following a drawn-out legal battle with Affle, PhonePe completed the acquisition of app store maker Indus OS last April.

A fintech decacorn is reportedly looking to strengthen its partnerships with smartphone vendors through its app store, similar to Indus OS.

TechCrunch was the first to report it.

In a statement to Inc42, a PhonePe spokesperson stated, “In the Indian context, we have one of the largest consumer bases in the world today.

It is our intention to develop an alternative app store that is more localized, not only from a language perspective, but also from a perspective of discovery and consumer interest.”

It is unclear when the app store will be launched, but a spokesperson stated, “We are currently focusing on building a great app store.”

As with the PhonePe app and the recently launched Pincode app, we do a lot of internal testing prior to launch.

Also, the fintech decacorn stated that the timing is ideal since Google is currently engaged in an extended dispute with India’s antitrust watchdog, Competition Commission of India (CCI).

A hefty penalty was imposed on Google last year, and the CCI also ordered other developers to develop their app stores outside of Google Play.

Several Indian phone manufacturers are reportedly in discussions with the fintech startup. Many phonemakers have expressed interest in PhonePe’s plans following the CCI’s order, which stated that Google cannot engage in the anticompetitive practice of barring other app stores from Android devices.

It is expected that we will be live on all Android OEMs within the first few months following launch. The company has already signed terms with one of the largest OEMs and is working with the rest to get them on board within the next few months,” a spokesperson for PhonePe stated.

As of late, PhonePe has been actively diversifying outside of its core payments business, entering other fintech categories such as insurance and investments.

It has also recently entered the field of e-commerce by launching its Pincode app on the ONDC.

A fintech decacorn that dominates the Indian digital payments market is raising $1 Billion in preparation for a listing in the country. The company has already received funding in the amount of 750 million dollars.

The startup, which was acquired by Flipkart in 2015 and acquired by Walmart in 2018 as part of the US retailer’s $18 billion acquisition of the Indian ecommerce giant, is raising funds at a pre-money valuation of $12 billion.

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