PhonePe’s ONDC app Pincode, which was launched just a month ago, has reportedly exceeded 50,000 installations in Bengaluru. The platform is also processing over 5,000 orders daily, indicating its increasing popularity in the city and strong customer preference.
According to Pincode, the app is being widely used by customers in Bengaluru to purchase everyday necessities such as groceries and food. The startup’s success is largely due to its efforts to promote local businesses and connect them with their customers, as well as providing convenient features such as doorstep delivery, discounts, and easy refunds and returns. As a result, the platform has gained popularity among consumers in the city.
Pincode’s app was launched on the ONDC platform in April, and now the company’s leadership team intends to attract small merchants to the ecosystem. Their goal is to create sustainable employment opportunities, thus contributing to the economic growth of the community.
Read More: PhonePe expands e-commerce portfolio with Pincode, a hyperlocal app on Open Network
Commenting on the 50,000+ installs, Lalit Singh, General Manager, Pincode said, “The strong customer preference we are seeing for the Pincode app is a testament to the seamless and convenient shopping experience we offer.”
In addition, he stated that the ONDC platform has proven to be a game changer for local businesses in India. As an app, Pincode is dedicated to improving the shopping experience for its users by continually expanding its selection of stores and adding new categories to the platform.
Pincode has announced its plans to expand to other cities in India in the near future. The company aims to make its app available to more customers across the country.
PhonePe has been actively making new launches and sharing business updates lately. In line with its major competitor Paytm, the company recently introduced a new feature called UPI Lite. This feature enables users to initiate low-value payments below INR 200 from their UPI Lite account without requiring a PIN.
Pincode is a buyer-centric app offered by PhonePe that operates on a hyperlocal model. Its primary focus is to list retailers and kiranas in order to benefit local consumers. Meanwhile, for ONDC, the process of aggregating local sellers with potential customers is only the beginning. This explains why more and more companies are turning to this platform as they recognize its potential to revolutionize the local commerce ecosystem.
ONDC is a government-backed platform that enables networks, and it has received positive feedback from the buyer-seller community. The platform recently announced a remarkable 500-fold increase in its daily transactions, highlighting its rapid growth and increasing popularity among users.
Moreover, ONDC has experienced exponential growth within a span of just five months. In January, the platform had only 800 retail merchants, but that number has now risen to an impressive 35,000, marking a remarkable 4,275% increase. Furthermore, ONDC has expanded its presence across 230 cities, up from 85 cities at the beginning of this year.
The Indian government has been advocating for companies to join the ONDC network for a while now. In a recent statement, the government reiterated its call for companies to join the network, emphasizing that they should do so through their primary platforms instead of using any subsidiary app.
Read More: ONDC not meant to be a threat to any industry, says DPIIT Secretary
In addition, ONDC has seen a significant rise in its daily rides since it introduced mobility services between two cities. Currently, the platform reports 35,000 rides per day between Kochi and Bengaluru.
Axis Bank is set to launch its own ecommerce platform on ONDC, following in the footsteps of PhonePe. Initially, the platform will focus on selling groceries and then gradually expand to other segments, according to reports.
Read More: Axis Bank follows PhonePe’s lead, set to launch ecommerce platform on ONDC
