PhonePe Pvt Ltd, a digital payments company backed by Walmart, has launched an app called Pincode on the Indian government’s Open Network for Digital Commerce (ONDC) to bolster its e-commerce business. The ONDC, launched last year, aims to enable small merchants and local stores across India to access processes and technologies typically deployed by larger e-commerce platforms.
Pincode, currently available only in Bengaluru on Google Play Store and the App Store, focuses on hyperlocal commerce and includes categories such as groceries, food, pharma, electronics, home decor and fashion.
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Chief Executive Sameer Nigam said the company aims to receive 100,000 orders per day on the app by December and will limit its launch to no more than 10 cities in its first year.
PhonePe already has an e-commerce platform called Switch on its app, which provides services such as food delivery, grocery shopping, travel, hotel booking, retail fashion and healthcare. In March, PhonePe, India’s most valuable payments firm, raised $200 million from majority-backer Walmart in a pre-money $12 billion valuation.
