One of the leading digital payment platforms PhonePe that is owned by Flipkart has announced that the company has reportedly acquired Zopper Retail which is a hyper-local POS (point of sales) marketplace. However, the amount of the deal has not been disclosed.
Neeraj Jain who is the founder and CEO of Zopper, will be joining the PhonePe team as head of product in offline merchant solutions.
Sameer Nigam, CEO of PhonePe said, “We welcome the Zopper Retail team to PhonePe and are excited leveraging their domain expertise to rapidly expand our offline merchant network across India. Zopper has a very strong technology and innovation DNA, and Neeraj and team are also a great culture fit for PhonePe. 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.”
The company at present, claims to have around three lakh offline and online merchant outlets that cover food, travel, groceries, movie tickets, etc. It lately introduced mini-apps on its platforms that enable the users to book Ola rides, pay for Redbus tickets and avail Goibibo services from the PhonePe mobile app directly.
PhonePe’s basic aim is to provide a greater push to its offline payments strategy with an objective to gather more share of the transactions from its offline business than online by the year-end.
“By joining forces we strengthen our commitment of using technology for simplifying our merchant’s billing, payments and inventory management systems,” said Neeraj Jain, CEO of Zopper.
With all these deals and acquisitions, PhonePe is accelerating up to capture a major part of the offline payments market. These acquisitions and tie-ups are sure to give a boost to the digital payment player and enter the offline payment space with a boom.