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Walmart-backed PhonePe winds down its Pincode app in yet another e-commerce step back [TechCrunch]
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On Thursday, PhonePe founder and group CEO Sameer Nigam said operating a consumer-facing quick-commerce app had become a distraction from the company's core focus on small retailers. The company instead wants to concentrate on helping stores “achieve operational efficiency, improved margins and visibility,” he said, citing this as its primary objective. PhonePe launched Pincode in April 2023 as a major push into e-commerce, building it on the Indian government-backed Open Network for Digital Commerce (ONDC). The hyperlocal app offered groceries, medicines, food, electronics, and home décor from neighbourhood shops. It rolled out first in Bengaluru and later expanded to other cities. Within a little over a year of launch, Pincode pulled out of most categories except food. Earlier this year, the app shifted to a quick-commerce model , offering 10-minute deliveries through local kirana shops and retailers in cities such as Bengaluru, New Delhi, Mumbai, Hyderabad, and Pune. The compa
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