Walmart-backed fintech giant PhonePe makes e-commerce push

In a move reminiscent of its successful early bet on the government-backed UPI network seven years ago, PhonePe, India’s leading mobile payments app, is now setting its sights on the e-commerce sector.
The Bengaluru-based startup, backed by retail giant Walmart, launched a hyperlocal commerce app on Pincode, powered by the Open Network for Digital Commerce (ONDC), an Indian government initiative striving to democratize the e-commerce landscape by offering a zero-commission platform.
Pincode will work with local shops and is going live initially in Bengaluru. The startup, which plans to s

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