In its latest retreat from India’s crowded online retail market, Walmart-backed fintech giant PhonePe has wound down its Pincode e-commerce app and will shift the business toward B2B services for offline merchants.
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…

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