| Log in

Flipkart invests in mobile payment gateway ngpay

01 September, 2014

India’s largest e-commerce company Flipkart has invested an undisclosed amount in ngpay, a mobile payment gateway platform owned by Bangalore-based JiGrahak Mobility Solutions Pvt Ltd.

“Payment is core to Flipkart and we see this partnership giving rise to the largest mobile payments brand in India. Sourabh Jain’s (founder of ngpay) expertise will help us drive innovation in payments, with features and products that provide a competitive end-to-end customer experience, to redefine the payments ecosystem in India,” a Flipkart spokesperson told VCCircle.

ngpay is a free mobile app that allows users to buy goods and services via their mobile phones. Businesses can use the platform to offer their products or services, like movie tickets, flowers, books, airline tickets, gifts etc., to customers. The firm claims that its mobile commerce platform is being used by more than 100 merchants and over million users.

To shut down PayZippy

Flipkart has also said that it is shutting down its one-year-old payment gateway service PayZippy.

“The PayZippy team has created innovative payments solutions, and the IP/technology developed will continue to be power and improve payments for Flipkart under the customer platform,” said a Flipkart spokesperson told VCCircle. “While we phase out our own payments product PayZippy, nothing changes for our customers, who will continue to enjoy all the benefits of a safe and secure payment system through Flipkart.com.”

However, the spokesperson declined to disclose the reasons for the shut-down.

The development was first reported by Medianama.

Launched in July last year, PayZippy enables card payments for merchants websites and mobile sites, while its B2C version allows customers to store their card details and make payments on partner merchant sites. It has also tied up with merchants to give offers like cash backs, discounts on transactions and gift vouchers to initial customers of the service.

(Edited by Joby Puthuparampil Johnson)


Leave Your Comment
Singapore parent ngpay acquires 100% of JiGrahak; Flipkart holds 65.7% stake

Singapore parent ngpay acquires 100% of JiGrahak; Flipkart holds 65.7% stake

Sainul K Abudheen 3 years ago
Singapore-based Next Generation Payments Pvt Ltd, which provides a mobile...
Flipkart acquires PhonePe to strengthen payments business

Flipkart acquires PhonePe to strengthen payments business

Disha Sharma 2 years ago
E-commerce giant Flipkart has acquired Bangalore-based mobile payments company...
Tiger Global, Flipkart seed fund Cube26 with $7.7M

Tiger Global, Flipkart seed fund Cube26 with $7.7M

Vijayakumar Pitchiah 2 years ago
Delhi-based mobile technology startup Cube26 Software Pvt Ltd has raised a seed...
No Comments

Flipkart invests in mobile payment gateway ngpay

Powered by WordPress.com VIP