With its platform Pincode, the company had exited Open Network For Digital Commerce (ONDC) last year. Now they are re-entering to focus on 10-minute grocery delivery with Pincode.

This makes PhonePe the first payments company to venture into its own quick commerce business. Unlike platforms like Zepto and Blinkit, which rely on building their own dark stores for quick commerce, Pincode is taking a different approach Kind of like JioMart.

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Pincode is partnering with local kirana stores and local mom-and-pop shops to fulfill orders, and deliveries are being handled through a mix of PhonePe delivery fleets and third-party logistics partners like Shadowfax.

Currently, Pincode is only operating in between 10 to 15% of areas in six major cities; they aim to hit 25% soon. This move could also be part of PhonePe’s preparation for their planned IPO in 2026. By diversifying their business, they may become more appealing to investors ahead of going public.

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