Several new features on the Unified Payments Interface (UPI) have struggled to gain significant traction, despite the platform's overall success. The National Payments Corporation of India (NPCI) has introduced features such as UPI Lite, wallet-based payments, recurring payments, UPI through RuPay credit cards, and UPI Circle. However, adoption rates have been modest.

UPI Lite, wallet-based UPI payments, and RuPay card usage on UPI are seeing just 80-150 million monthly transactions. Fintech companies like PhonePe, Google Pay, and Paytm have not actively promoted these features, as they prioritize revenue-generating products. Banks are also hesitant to invest in tools with weak traction. The limited scaling of features like UPI Lite and wallet-based payments undermines the NPCI’s goal of easing pressure on core banking systems.

Amazon India's logistics arm, Amazon Transportation Services (ATS), is merging with Amazon Seller Services to reduce legal and regulatory compliance requirements and enable more efficient management of infrastructure and resources. The National Company Law Tribunal (NCLT) has granted interim approval for the merger. ATS, launched in 2013, primarily serves Amazon’s ecommerce marketplace but began offering services to third-party clients in 2023. In FY24, ATS reported a 7.6% year-on-year rise in operating revenue to Rs 4,889 crore, while Amazon Seller Services reported Rs 25,406 crore in operating revenue, up 14%.

Flipkart has contributed to a strong quarter for its US-based parent Walmart, with a 20% rise in international advertising revenue for the three months ending April 30. Walmart International reported net sales of $32.1 billion, marking a 7.8% year-on-year increase. Flipkart Internet, the marketplace arm of Flipkart, earned nearly Rs 5,000 crore from advertising in the financial year ending March 2024, outpacing the Rs 3,734 crore generated from marketplace fees.

PB Fintech posted a 181% year-on-year jump in net profit to Rs 171 crore for the quarter that ended March 2025, driven by strong performance across its business verticals. Revenue was up 38% to Rs 1,508 crore, while expenses increased 29% to Rs 1,437 crore. The insurance business, Policybazaar, saw Q4 premium collection of Rs 7,030 crore. PB Healthcare secured $218 million from General Catalyst, PB Fintech, and others.

Singapore’s sovereign wealth fund GIC has sought the Competition Commission of India’s (CCI) nod to acquire a 2.14% stake in wealthtech startup Groww through its affiliate Viggo Investment. This is part of Groww’s $200 million pre-IPO funding at a $6.5 billion valuation. Groww, now India’s largest stockbroker by active clients, recently shifted its domicile to India and is preparing to file its IPO papers soon.

President Donald Trump asked Tim Cook to halt iPhone production in India and move it back to the US, as Apple plans to diversify its manufacturing beyond China.

Smaller software-as-a-service (SaaS) companies are seeing an uptick in mergers and buyouts as they struggle to raise funds and scale operations amid the AI boom. M&A deals increased 19% sequentially and 31% annually in the March quarter.

New-age ice cream brand Hocco raised $10 million in a funding round co-led by the Chona family office and Sauce VC. The funds will be used for expansion, capex, innovation, marketing, and more.