PhonePe, backed by Walmart, is set to launch consumer lending on its platform by January 2024, offering personal loans and developing credit underwriting. The startup is in the final stages of integration with five banks and non-banking finance companies, with a potential credit line offering in later stages. Following its recent announcement of reaching 500 million users, PhonePe aims to expand its financial services. The company has experienced significant growth, registering a 77% increase in consolidated revenue to Rs 2,914 crore for FY23, emphasizing its market expansion and digital money transfers.