PHONEPE PINCODE ONDC
Reinventing Retail: How local kirana stores are adapting to India’s quick commerce boom
Once limited by technology, these stores are now gradually getting a digital lift for quick deliveries through companies like Kiko.live and Pincode
ONDC retail order numbers decline as financial incentives fade
ONDC initially provided financial incentives to onboard sellers, drive transactions, and fund customer discounts and offers. However, it has been gradually reducing this assistance over the past few months, with the monthly incentive cap dropping from Rs 3 crore in July to around Rs 30 lakh now.
IPO-bound PhonePe set to hire Amit Doshi as CMO
Rohan Misra, son of former SoftBank Vision Fund chief executive Rajeev Misra, is launching his own fund, Gravity Holdings. The London-based fund has raised $150 million to back Indian technology startups.
PhonePe surrenders NBFC-Account Aggregator licence
PhonePe has decided to exit the Account Aggregator business and instead partner with other Account Aggregators (AAs) in the market.
PhonePe sharpens quick commerce play in first for a payments company
Walmart-backed PhonePe is poised to enter the quick commerce market, driven by growth prospects in the red-hot sector and its impending public listing, marking its third foray into online retail. After exiting the government-backed Open Network for Digital Commerce (ONDC) last year, PhonePe’s ecommerce venture, Pincode, has fully pivoted to the quick model.
- Go To Page 1
ONDC cuts financial incentives for network participants ahead of levying network fee
The open ecommerce network, which offered up to Rs 3 crore in July and Rs 2.5 crore in August as financial incentive per network participant, reduced the cap to Rs 40 lakh for September before increasing it to Rs 60 lakh in October amid festivals. The limit has now been fixed at Rs 40 lakh for December.
PhonePe’s Pincode exits non-food categories in ecommerce business rejig
PhonePe is restructuring its ONDC strategy by exiting several non-food categories. The Walmart-owned company unveiled its ecommerce venture Pincode on ONDC in 2023 offering grocery, food delivery, medicines, fashion and electronics among other categories on the network.
PhonePe retreats from ecommerce on ONDC; Good Glamm versus IAN
PhonePe has returned to the drawing board to review its ecommerce strategy. This and more in today’s ETtech Top 5.
PhonePe poured bulk of Rs 800 crore investments into insurance business
The infusion of Rs 426 crore to PhonePe Insurance Broking Services points to the payment company's bullish bet on the segment. PhonePe has infused more than Rs 1,000 crore as equity investment in its insurance unit since it was licensed, according to information sourced from the Registrar of Companies.
Magicpin integrates Domino's Pizza with ONDC
Magicpin had recently touched 50,000 food orders in a single day under ONDC umbrella, largest aggregator/supplier on ONDC network.
PhonePe explored investment in Dunzo’s merchant business
However, Dunzo investors were not in favour due to strategic nature of Walmart-backed company.
PhonePe targets more merchant revenue from payment gateway business
After person-to-person and QR-code-based payments, PhonePe wants a slice of the online commerce market where its rivals are absent currently due to a regulatory embargo
Magicpin food delivery order doubles to 10 lakh on ONDC during World Cup
Magicpin said that it delivered 35,000 food orders during the India versus Pakistan match on October 14. The orders peaked at 50,000 on a single day during the India versus Australia match.
PhonePe crosses 500 million registered users, alters top deck
The digital payments major has elevated a bunch of its business heads to the position of CEO for each of the business verticals
PhonePe enters stock broking segment, launches Share.Market app
On Wednesday, the startup launched Share.Market, which enables users to open trading accounts and invest in stocks, mutual funds, and ETFs.
Magicpin completes 1,000 orders of tomatoes at Rs 70/kg within two days
Offline fashion discovery and savings platform Magicpin has delivered over 1000 orders of tomatoes at Rs 70 per kg across 90 pincodes across Delhi-NCR in just 2 days. The company, in collaboration with the National Cooperative Consumers Federation of India (NCCF) has started selling tomatoes at Rs 70 per kg through select online platforms registered on the government-backed Open Network for Digital Commerce (ONDC) across 90+ pincodes in Delhi-NCR.
Delhi pips Bengaluru in ONDC retail orders in beta
ONDC had gone beta live on July 5 in Mumbai, Delhi NCR (including Noida, Gurgaon and Faridabad), Chennai, Hyderabad and Kolkata post scaling seller density in these cities.
PhonePe's Pincode goes live in ten cities
Consumers in these cities will now be able to purchase groceries and order food from their local shops and restaurants on Pincode.
Magicpin reports 100% growth in daily orders on ONDC network
Magicpin, discovery and discount platform for offline and physical retail has reported 100% growth in daily orders on the ONDC network week ending May 07, 2023.
PhonePe will likely go for an India listing, says Walmart CEO Doug McMillon
Walmart's payments company PhonePe is performing well in India, according to CEO Doug McMillon. Speaking in a recent interview, McMillon said PhonePe, if it enters ecommerce, will not compete with sister company Flipkart. He added that India was making great strides towards becoming a key global supplier. McMillon also discussed Walmart's huge ambitions in the country, stating that the $10bn annual export target set to be achieved by 2027 is now "more possible than five years ago". He also praised the government's collaborative approach to policymaking.
Paytm may forego buyer app commission on ONDC: sources
This may help to further reduce the price on the open source network that is already challenging the duopoly of Swiggy and Zomato in the food delivery space.
How PhonePe is enabling digital payments for a host of small and medium merchants in India
Fintech player PhonePe’s recent add ons – SmartSpeakers and Pincode – are driving digital inclusion by making it easier for small merchants to navigate the process.
Magicpin scales up to 10,000 orders per day on ONDC network
Magicpin had in early April announced that it had on-boarded over 25,000 food merchants from its network of local restaurants while making it the largest restaurant aggregator/supplier on ONDC. These merchants are now available on other start up participants such as PayTm and PhonePe’s Pincode, Spice Money, Mystore, Craftsvilla, Meesho etc as well.
Razorpay announces integration with government-backed ONDC
The Bengaluru-based payments solution startup said it will provide payment reconciliation services to network participants such as buyers, sellers and logistic partners to streamline the payment processes on ONDC.
ONDC to evaluate etailers based on commitment, says CEO Thampy Koshy
In April 2022, the network piloted a soft launch in five cities - Bengaluru, Delhi NCR, Shillong, Bhopal and Coimbatore. Since then, ONDC has also started a beta pilot in Bengaluru and in some tier-II cities.
PhonePe chalks up further $100 million from General Atlantic; more expected
Private equity, co-investors have infused $450 m in ongoing fundraise, may go up to $600m
IT salary hikes expected to trim down to 8-10% in FY24; PhonePe’s commerce app Pincode goes live
A year after IT companies saw employee costs soaring along with the great resignation wave, salary hikes for employees are expected to cool down as wages undergo a correction in FY24.
PhonePe's ecommerce app Pincode live on ONDC network
The company launched Pincode – a hyperlocal ecommerce platform that enables online commerce between local offline stores and customers in the neighbourhood – in Bengaluru on Tuesday. Pincode will pilot in Bangalore with categories such as grocery, food, pharma, electronics and home decor, a statement from the company said.
Load More
