Thursday, June 20, 2024

PhonePe forays into hyperlocal commerce with ‘Pincode’

Walmart-backed PhonePe has forayed into hyperlocal commerce with its shopping app Pincode that is built on the ONDC protocol. Pincode is currently live in Bengaluru and would be unveiled in other cities soon.

The Pincode app will enable local sellers from neighbourhood stores to digitally connect to Bengaluru’s consumers offering the convenience of online ordering, great discounts and instant refunds and returns. The app will pilot in Bengaluru with grocery, food, pharma, electronics and home décor.

Sameer Nigam, CEO and founder PhonePe said, “Pincode is a new shopping app that offers a revolutionary new approach to e-commerce, which puts all the local stores and sellers at the heart of the digital shopping growth story. Built on ONDC, it is expected to create new opportunities, for innovation and growth in e-commerce.”

PhonePe believes that ONDC can foster the rapid growth of a new hyperlocal e-commerce business model. Apart from local buyers and sellers, such a model will also benefit other ecosystem participants like last-mile logistics and inventory management players.

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