- Walmart-owned fintech company PhonePe has entered into e-commerce with the launch of a new client application named ‘Pincode’. It will be a buyer-side application on the Open Network for Digital Commerce (ONDC), which is a government-backed initiative to democratise e-commerce in India.
- “PhonePe is launching a new buyer app because ONDC is such a vast ocean of promises. For the consumer, we believe a category or a tab will not solve the problem. We need a new shopping app that puts the store at the heart of the interaction,” Sameer Nigam, Co-founder and CEO of PhonePe, said at the app’s launch event in Bengaluru on Tuesday.
Edtech Goliath Edtech BYJU has started a fundraising contest to garner around $700 million (about Rs 5,750 crore), according to sources aware of the development.