HomeNewsBusinessPhonePe’s Pincode app: How it stacks up in week 1 of use

PhonePe’s Pincode app: How it stacks up in week 1 of use

Can Pincode — which had over 10,000 downloads on Google Play Store at the time of writing — match up to other apps? Let’s find out.

April 10, 2023 / 13:39 IST
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PhonePe CEO Sameer Nigam launching the Pincode app
PhonePe CEO Sameer Nigam launching the Pincode app

PhonePe, India’s largest UPI app by market size, ventured into the hyperlocal e-commerce app space with ‘Pincode’ last week. Built on top of the Open Network for Digital Commerce network, it was the first buyer-side app on ONDC and is currently available only for customers in Bengaluru.

ONDC is a decentralised, network-centric model where buyers and sellers can transact irrespective of the platforms/applications they use as long as those platforms/applications are connected to this open network. It doesn’t require buyers and sellers to be on the same platform to carry out a transaction.

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Why a separate app was built

Why was Pincode developed as a separate app and not as a tab in the existing PhonePe app? CEO Sameer Nigam said a separate app was required because the product expectation is different. In the case of payments, the aim is to make the customer spend the least amount of time making a payment, which is not the case with shopping, which is experiential.