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E-commerce platform Udaan forays into UPI payments segment; launches Udaan Pay

E-commerce platform Udaan forays into UPI payments segment; launches Udaan Pay

Udaan, a B2B e-commerce platform, has stepped into the unified payments interface (UPI) payments segment with the launch of Udaan Pay application, reported Inc42.

According to the sources, the Bengaluru-based firm Udaan has joined the bandwagon of the UPI payments app with its QR-code based digital payments for retail outlets, restaurants, and merchants.

While, the company Udaan confirmed by saying that it has been testing digital payments for the last six months.

An Udaan spokesperson said, “As discussed, the payment methods are internal to Udaan and QR is one of the payment methods being used.”

The Bengaluru-based Udaan was founded by Amod MalviyaSujeet Kumar and Vaibhav Gupta in 2016. It is aimed at making business easy in India, and making B2B commerce convenient and efficient.

Notably, the platform Udaan achieved its unicorn status in September 2018. So far, it has been one of the few startups to achieve a private valuation of $1 billion in the shortest possible time.

The spokesperson added by saying that Udaan is expanding its services across Delhi-NCR and other metro cities in the coming months.

With the advent of Udaan Pay, the firm is now providing a platform for B2B e-commerce from products to payments to delivery.

Some of the significant startups, operating under the similar domain include BiizongoMoglixJumbotailPower2SMEShopKiranaJust Buy Live, etc.

Also read: E-commerce platform Udaan raises $585 million from Tencent, Lightspeed Venture, clutch of investors; valuation surges to $2.5 billion

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