Walmart-Backed PhonePe Winds Down Its Pincode App In Yet Another E-commerce Step Back
PhonePe Pincode shuts down, shifting focus to B2B services for offline retailers in India’s competitive e-commerce market.
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Walmart-Backed PhonePe Winds Down Its Pincode App In Yet Another E-commerce Step Back
PhonePe Pincode Shuts Down as Company Refocuses on Retailers Walmart-backed PhonePe is winding down its Pincode e-commerce app, marking another strategic retreat from India’s fiercely competitive online retail space. The company will now pivot its focus toward providing B2B solutions to offline merchants, aiming to strengthen small retailers rather than directly compete with online marketplaces. Credit: PhonePe PhonePe founder and CEO Sameer Nigam explained that running a consumer-facing quick-commerce app had diverted attention from the company’s core mission. “Our priority is to help local stores achieve operational efficiency, better margins, and greater visibility,” he said. The shift signals PhonePe’s move to double down on supporting neighborhood retailers instead of chasing e-commerce market share. From Ambitious Launch to Quick Retrenchment Pincode launched in April 2023 as PhonePe’s ambitious entry into e-commerce, leveraging India’s Open Network for Digital Commerce (ONDC). The a…
