your password has been reset successfully, Please login again.

Flipkart owned PhonePe buys Zopper retail to boost offline presence

Phonepe which is one of the biggest players in the UPI payment space, has been steadily building up its offline payment business and has developed a Bluetooth enabled payment terminal to process offline transactions.
BY BEx Bureau
BusinessEx
Jul 16, 2018

Flipkart owned payment application PhonePe has acquired hyper local point of sales deploying company Zopper Retail for an undisclosed amount, said the company in a press note. As a part of the acquisition, Neeraj Jain, the chief executive officer at Zopper Retail will be joining PhonePe as the head of product for its offline merchant solutions.

Phonepe which is one of the biggest players in the UPI payment space, has been steadily building up its offline payment business and has developed a Bluetooth enabled payment terminal to process offline transactions.

Zopper Retail is specifically designed to meet the needs of millions of small retailers in India, and their strategy ties in very well with our overall vision of making digital payments universally accepted across the country. said Sameer Nigam, chief executive officer, PhonePe.

The company hopes with the new acquisition PhonePe will be able to merge few value added service capabilities of Zopper into its platform thereby strengthening its offline proposition for the merchants.

By joining forces with PhonePe we strengthen our commitment of using technology for simplifying our merchants billing, payments and inventory management systems. Zoppers other business line comprising of Affinity Programs and Extended Warranty will drive the growth of Zopper in the future, said Neeraj Jain, chief executive officer, Zopper.

PhonePe has been rapidly expanding its merchant base and is accepted as a payment option across 3 lakh offline and online merchant outlets covering food, travel, groceries, movie tickets etc. The company claims to have crossed the 100 million user mark and crossed the $20Bn annual payment value run rate in May 2018.

Further highlighting the app-in-app approach PhonePe recently launched mini-apps on its platform allowing users to book Ola rides, pay for Redbus tickets and avail Goibibo Hotel services from inside the PhonePe app directly.

Please add your Comment
SIMILAR News
February 15, 2019
At present, tech companies are concentrating on improving the customer experience. ...More
By Jaspreet Kaur
February 13, 2019
Ramapai is a veteran in the industry and carries up to 24 years of experience. ...More
By Jaspreet Kaur
February 12, 2019
CAPA foresees that the Indian airlines will cut accumulative losses up to $700 million in FY19. ...More
By Jaspreet Kaur
February 12, 2019
Reliance Home Finance has released its Q3 report and proclaims to earn INR 55 crore following tax de ...More
By Jaspreet Kaur
February 11, 2019
The automotive company shared Q3 reports Financial Year 2018 on Monday. ...More
By Jaspreet Kaur
February 11, 2019
German bank and financial services company, Deutsche bank makes the largest infusion in the country ...More
By Jaspreet Kaur
February 09, 2019
Delhi High Court has banished plea for regulating content on Netflix and Amazon Prime. ...More
By Jaspreet Kaur
February 08, 2019
Sobha has earned a consolidated net profit INR 69.8 crore as per Q4 FY18 ...More
By Jaspreet Kaur
February 08, 2019
IT cancellations of Tata Trusts’ license may shift Venkat to a new position. ...More
By Jaspreet Kaur
February 07, 2019
RBI cut on repo rate results surge in realty stocks, auto and bank. ...More
By Jaspreet Kaur
February 07, 2019
MPC’s decision has begotten positive impact on rupee as well as bond yields. ...More
By Jaspreet Kaur
February 06, 2019
E-commerce retailers seek reshuffling a tool to not flout the amended FDI laws. ...More
By Jaspreet Kaur