Walmart-owned fintech PhonePe plans to enter the government’s Open Network for Digital Commerce (ONDC) with a consumer-facing app to further its ecommerce ambitions. In this regard, PhonePe is developing an unnamed hyperlocal grocery delivery app.
PhonePe is currently being tested in Bengaluru, and the app will compete with Zepto, Dunzo, Blinkit, Swiggy Instamart, and, most importantly, Flipkart Quick. At an ONDC meeting in February 2022, the Walmart-owned fintech startup expressed its desire to facilitate ecommerce. “PhonePe will play the role of buyer and seller application on ONDC,” said Vivek Lohcheb, VP, offline business at PhonePe. We will enable Grocery and F&B in Bengaluru during the first phase of the launch. Thousands of merchants will profit easily from ONDC.”