PhonePe Launches Ecommerce Consumer App Pincode On ONDC Platform

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PhonePe has launched a new hyperlocal shopping app called Pincode that is built on the Centre’s Open Network for Digital Commerce (ONDC) platform. The app will connect consumers with local stores to provide online ordering, discounts, instant refunds, and returns. Pincode will also offer products from recognised brands and locally manufactured groceries, apparel, footwear and accessories. The app aims to boost local retailers and the entire local ecosystem, including MSMEs and farmers. Currently, the app is only available in Bengaluru and will be launched in other cities soon. PhonePe plans to digitally enable every Indian shopkeeper over the next few years and create sustainable employment opportunities.

 PhonePe, one of India’s leading fintech companies, is expanding beyond just its core payment services and is diversifying its offerings. The company is following the footsteps of Paytm, another fintech giant in India, which has already established itself as a one-stop-shop for a range of services including mobile payments, e-commerce, wealth management, insurance, and more. By offering a bouquet of services, PhonePe is looking to provide its customers with a more comprehensive and convenient experience, while also generating new revenue streams.