CURRENT AFFAIRS : BANKING & FINANCE
PhonePe Launches E-Commerce Consumer App ‘Pincode’ On ONDC Platform
- Walmart-owned fintech company PhonePe has launched a new consumer-facing application, Pincode, which will be integrated into India’s Open Network for Digital Commerce (ONDC) framework.
About Pincode :
- At present, Pincode is only available in Bengaluru city and will soon be launched in other cities.
- Pincode is launching in 6 major categories, including grocery, food, pharma, electronics, home decor, and fashion.
- The app, which will focus on hyperlocal commerce, is downloadable from Google Play and App store.
- Pincode is built on the ONDC network, which allows us to generate demand for merchants digitised by various seller platforms in an inclusive manner, while creating new opportunities for growth and driving innovation at scale.
