Digital payment company PhonePe has acquired Zopper, a hyperlocal point of sale (POS) platform for small and medium businesses. As a part of the acquisition, Neeraj Jain, founder & CEO of Zopper, will join the PhonePe team as head of product, offline merchant solutions. PhonePe’s transaction ecosystem comprises in-app, online and offline merchants.
“Zopper Retail is specifically designed to meet the needs of millions of small retailers in India, and their strategy ties in very well with our overall vision of making digital payments universally accepted across the country,” said Sameer Nigam, CEO, PhonePe.
Investing in the growth of digital transactions at offline merchant locations forms a very important part of the PhonePe’s strategy. PhonePe has been rapidly expanding its merchant base and is now accepted as a payment option across 3 lakh offline and online merchant outlets covering food, travel, groceries, movie tickets etc. The company crossed the 100-million user mark and also crossed the $20 bn annual TPV run rate in May 2018. PhonePe recently launched mini-apps on its platform allowing users to book Ola rides, pay for Redbus tickets and avail Goibibo Hotel services from inside the PhonePe app directly
“By joining forces with PhonePe, we strengthen our commitment of using technology for simplifying our merchant’s billing, payments and inventory management systems,” said Neeraj Jain, CEO, Zopper.