Abhishek012
TF Pioneer
POP UPI app grows 100% m-o-m to hit monthly run rate of 1 million UPI transactions in just two months:
POP UPI differentiates itself by offering lifestyle rewards from new-age brands on every UPI transaction done via POP app, and targeted primarily towards the young Indian demographic.Fintech startup POP, founded by a team of former Flipkart employees, has achieved a monthly run rate of one million transactions within the second month of its launch. With an impressive growth rate of 100%+ month-on-month, the company’s ambition is to be among the top 10 UPI apps by the end of this year.
POP has reached a total of 1.5 million+ transactions since its launch.
POP UPI rewards, via POPcoins, are merchant-funded and can be redeemed to buy a wide range of products from all major direct-to-consumer (D2C) brands in categories such as beauty, personal care, electronics, fashion, and home goods – all housed within the POP app.
With this approach, POP is leveraging daily usage phenomena like UPI to help unlock a larger and relevant user base who is interested in buying new-age brands with very minimal marketing spend.
“At POP, we’ve always focused on sustainable business growth. With UPI transactions soaring, we saw the need for a business model innovation. We are offering credit card-style rewards on UPI, funded primarily by merchants. POP rewards customers with 2% POPcoins on every UPI transaction, which can be redeemed for competitive discounts across 500+ new-age brands on our app,” Bhargav Errangi, founder of POP, said.
This approach provides customers with meaningful value on everyday phenomena like UPI payments, attracts new customers for merchants, and allows POP to build a large commerce network around UPI at minimal cost.
POP is working aggressively to drive its payments-to-commerce vision.
Within 8 weeks, POPcoins earned via UPI transactions are already driving over 20000 monthly e-commerce orders. The company expects this number to hit one million monthly orders by the end of the year.
