Digital payment company Phonepe buys Zopper Retail, enhances its offline pay competitiveness

In recent days, according to Indian media reports, Alibaba in India to pay the field rival Phonepe is negotiating the takeover event. Indian media say Phonepe is Flipkart’s digital payment application.

PhonePe exceeded 100 million user mark last month, which also provides them with the confidence that they urgently need to actively acquire offline merchants.



This will provide a large customer base for the Phonepe online department. According to Techcircle, Phonepe is currently worth 500 million dollars (32.54 billion rupees).

Currently in the Indian market, Paytm and Phonepe are the main rivals in the payment field. The former is September 2015 Ali India to Mobile information company One97 Communications (Paytm parent) investment 680 million U.S. dollars to become the largest shareholder.

As part of the acquisition process, Zopper Retail CEO Neeraj Jain will join Phonepe as the product owner of its offline merchant solution.

Phonepe is one of the leading companies to pay for the use of UPI, and is now steadily advancing its offline payment business and has developed a payment terminal to support Bluetooth technology to deal with offline businesses.

Phonepe’s CEO, Sameer Nigam, said: “Zopper Retail is designed to meet the needs of millions of small retailers in India, whose strategy is exactly the same as the Phonepe’s aim of universal digital payments worldwide.” ”

The company hopes that through this acquisition, Phonepe will be able to integrate Zopper value-added service capabilities into its platform, thereby enhancing its services to the business offline payment capabilities.



Zopper’s CEO, Neeraj Jain, said: “By working with Phonepe, we have increased our investment in simplifying business transactions, payments and inventory management systems.” Zopper’s other lines of business, including affinity programs (Affinity Programs) and extended warranties, will promote zopper future growth. ”

Phonepe’s business base is expanding rapidly and is being accepted by 300,000 online and offline merchants, covering food, tourism, groceries, movie tickets and other fields.

The company is said to have breached the operating rate of 100 million subscribers and 20 billion U.S. dollars (134.758 billion yuan) of annual payments in May 2018.



Recently, Phonepe further developed the application in the program, launched a mini application on its platform (Mini-apps), the user can make a reservation by the mini application Ola Travel, pay Redbus ticket, enjoy the Goibibo Hotel service directly from the application procedure.
India’s online payments industry is expanding and companies from all over the world are investing in the industry to gain an edge. With the number of Internet users increasing every day, the industry has tremendous growth potential in the future. The government’s move to digital India and non-monetization is the main reason for the sharp increase in digital transactions. Even Phonepe is based on the government’s unified payment interface.