PhonePe, India’s leading payments app, has tapped into e-commerce with the launch of its new shopping app, Pincode. Now available in Bengaluru, Pincode will connect customers to local stores for groceries, medicines, food, electronics and home decor items. But instead of a traditional e-commerce platform, Pincode is powered by the Open Network for Digital Commerce (ONDC), a government initiative that democratizes e-commerce through no-commission trading.
Pincode is PhonePe’s attempt to make an early bet on ONDC, as it did with the Unified Payments Interface (UPI) years ago. PhonePe is now the leading UPI app – a feat that perhaps deserves the launch of Pincode. While PhonePe’s new shopping app is currently available in Bengaluru, the Walmart-backed company is expected to expand its availability to more pincode cities.
PhonePe claims that Pincode will help neighborhood stores strengthen their network and provide customers with a “better and wider selection of products than ever before”. [the] Competition.” The platform will feature products from national brands as well as locally produced groceries, apparel, footwear and accessories. With the help of ONDC, PhonePe wants to empower local sellers without asking for commission, but it’s McDonald’s PhonePe believes that its ONDC-powered platform will also benefit other ecosystems such as last mile logistics and inventory management.
Commenting on the launch of Pincode, Sameer Nigam, CEO & Founder, PhonePe said, “We are very excited to launch Pincode. Pincode is an innovative shopping app and offers a revolutionary new approach to e-commerce, which enables all local stores and Puts sellers at the center of the digital shopping growth story. Pincode is built on the ONDC network, allowing us to generate demand for merchants digitized by various seller platforms, while creating new growth opportunities and driving innovation at scale. gives. ”
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