"On Thursday, PhonePe founder and group CEO Sameer Nigam said operating a consumer-facing quick-commerce app had become a distraction from the company's core focus on small retailers. The company instead wants to concentrate on helping stores "achieve operational efficiency, improved margins and visibility," he said, citing this as its primary objective. PhonePe launched Pincode in April 2023 as a major push into e-commerce, building it on the Indian government-backed Open Network for Digital Commerce (ONDC)."
"Within a little over a year of launch, Pincode pulled out of most categories except food. Earlier this year, the app shifted to a quick-commerce model, offering 10-minute deliveries through local kirana shops and retailers in cities such as Bengaluru, New Delhi, Mumbai, Hyderabad, and Pune. The company also expanded the service to 10-minute medicine deliveries in Bangalore, Mumbai, and Pune in April."
PhonePe has shut down the consumer-facing Pincode app and will redirect the business toward B2B services for offline merchants. Pincode launched in April 2023 on the government-backed Open Network for Digital Commerce (ONDC) as a hyperlocal marketplace offering groceries, medicines, food, electronics and home décor from neighbourhood shops. The service narrowed categories within a year and later adopted a quick-commerce model promising 10-minute deliveries via local kirana shops across multiple cities. The model contrasted with rivals using dark stores and failed to gain sufficient traction, prompting a strategic refocus on helping retailers improve efficiency, margins and visibility.
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