Flipkart's PhonePe acquires Zopper retail

Flipkart-owned digital wallet PhonePe has acquired Zopper Retail, a hyperlocal point of sale platform for small and medium business to expand its offline merchant network across India.
Flipkart owned digital wallet PhonePe acquires Zopper Retail - PhonePe

With Zopper, PhonePe aims to reach millions of retailers using the technology and innovation of the former. As part of the deal, the founder and CEO of Zopper will take over as the Head of Product and Offline Merchant solutions at PhonePe.
Commenting on the acquisition, Sameer Nigam, CEO, PhonePe in a statement said, “We welcome the Zopper Retail team to PhonePe and are excited leveraging their domain expertise to rapidly expand our offline merchant network across India. 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.”
Neeraj Jain, CEO, Zopper, added, “PhonePe is a leader in the payments space and we are delighted to be joining forces with them. By joining forces with PhonePe we strengthen our commitment to using technology for simplifying our merchant’s billing, payments and inventory management systems.”
Earlier this year, Flipkart had pumped in Rs 518 crore (approx $ 80 million) into PhonePe in its quest to make PhonePe the most preferred digital payments app in India by scaling up operations across all sectors.

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