PhonePe plans to onboard millions of kiranas

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The Walmart-owned PhonePe is targeting to onboard greater than 25 million small kiranas in villages and town in the next one year. On its business app, PhonePe will provide those merchants offer services such as instant payment confirmations, receipts and reconciliations. The company said that it plans to reach 5,500 talukas through its acquisition team that will help generate more than 10,000 jobs in semi-urban as well as rural areas.

The Merchants can list their store timings, share their product catalogue and promote home delivery alternatives on their personalized store web page on the PhonePe app. The company had in April this year added grocery delivery service to its app and listed kirana stores in the customers’ location for hyperlocal shopping. The company had claimed of having greater than 1 crore stores promoting groceries and essential items on its app.

PhonePe is now specialize on “kiranas and traders across small villages and towns are striving to progress and prosper,” Vivek Lohcheb, vp – Offline business improvement, PhonePe in a statement. In keeping with a Deloitte India report in February this year, around 70 per cent kirana stores in big cities need to be tech-enabled even as 37 per cent of such stores in tier-II cities are trying to on-board the right technology. Moreover, Tier-II and smaller towns contribute almost 50 per cent of all shoppers and three out of every five orders for on-line marketplaces inclusive of Amazon, Flipkart etc. a report titled How India stores on-line through Bain and company.

The market price of the online grocery marketplace in India become greater than Rs 10,000 crore in 2019 and is likely to reach Rs 1.17 lakh crore in 2024, as per statistics portal Statista. According with a report by of Zinnov, PhonePe become the distant third player within the on-line payments in India in terms of day by day active users (DAU). In which  Paytm has 39 million DAUs, While Google Pay has 19 million DAUs and PhonePe has 17 million DAUs as according to the data during Q4 2019 and Q1 2020.

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