Flipkart infuses ₹518 crore in its payments arm PhonePe

Homegrown e-commerce giant Flipkart has infused ₹518 crore in its payments arm PhonePe, according to filings. The current transaction values PhonePe at around ₹3,740 crore, according to reports. In October last year, Flipkart committed around ₹3,254 crore ($500 million) in PhonePe which was launched in 2015 and was acquired by the company in 2016.