The digital payments company, PhonePe bought the point-of-sale (PoS) business of Zopper. Zopper is a hyperlocal mobile marketplace for small and medium-sized businesses. The acquisition is a part of a broader strategy to ramp up its offline business.
According to the deals, Zopper founder and chief executive officer Neeraj Jain will join PhonePe, heading its offline merchants business.
Zopper’s PoS is the home of several million small and medium-sized businesses as customers on its platform.
PhonePe co-founder and CEO, Sameer Nigam said, “Zopper has a very strong technology and innovation DNA, and Neeraj and team are also a great culture fit for PhonePe. 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”.
In November last year, PhonePe launched its own PoS device based on Bluetooth technology for Kirana stores, petrol pumps, food chains and other merchants to accept digital payments.
The Flipkart owned company (PhonePe) acquisition comes months after PhonePe launched its own point-of-sale device for small merchants.