Payments company PhonePe, all of two years old, is stepping out of the Unified Payments Interface (UPI) app box. Having made payments easy, it is now looking to spend more time with merchants. The company, e-commerce retailer Flipkart’s payment arm, acquired Zopper Retail, a point of sale (PoS) platform, in an all-cash deal worth about $6 million, earlier this week.
Zopper’s PoS helps retailers capture the billing details of their customers, and, in turn, helps them manage inventory. The investment gives PhonePe access to Zopper’s 10,000 stores and their engineering team, including its founder Neeraj Jain who will head the offline business for PhonePe.