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Economic Times
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Razorpay invests $30 million into consumer payments startup Pop
- Pop, a consumer payment platform, raises $30 million from Razorpay to address challenges in digital commerce.
- Pop operates a rewards-first UPI payments app combining payments, commerce, and credit into one experience.
- The funding will be used for product innovation, enhancing consumer value proposition with Popcoins-led rewards, and building merchant partnerships.
- Pop has scaled to over six lakh daily UPI transactions, one million unique monthly active transactors, and more since launching its UPI platform.
- Razorpay's investment in Pop expands its offerings into loyalty, engagement, and commerce enablement.
- Pop's multi-brand rewards currency in the form of Pop Coins aims to incentivize repeat purchases and drive real-time engagement.
- Harshil Mathur, CEO of Razorpay, highlights that Pop helps brands earn trust, drive repeat purchases, and build real loyalty.
- The investment in Pop complements Razorpay's acquisition of PoshVine, focusing on loyalty and rewards management.
- Consumers are increasingly considering rewards and loyalty while making purchase decisions, with India's D2C market expected to surpass $100 billion by 2026.
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