Latest news with #POPcoins
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Business Standard
17-06-2025
- Business
- Business Standard
Fintech POP raises $30 mn from Razorpay to build loyalty-first model
Consumer payments application POP raised $30 million from business-to-business (B2B) fintech Razorpay on Thursday, a year after the company launched its operations on India's real-time payments system, Unified Payments Interface (UPI). The investment will enable Razorpay to expand its presence in the business-to-consumer (B2C) segment. POP has previously raised funding from investors including India Quotient, Unilever Ventures, Incubate Fund and NuVentures. Since the year of its launch, the fintech firm has clocked over 6 lakh daily UPI transactions, crossed 1 million unique monthly active transactors and executed over two lakh monthly commerce shipments. It claims to have more than 40,000 RuPay credit cards in a co-branded partnership with Yes Bank. 'India doesn't need another cashback-only rewards app. What we need is a new rewards economy built on a long-term purpose. POPcoins are designed to build habits, increase retention and reduce CAC (customer acquisition cost) for merchants — all while making payments more rewarding for the end user,' said Bhargav Errangi, Founder, POP. He added that the company will double down on a loyalty-first payments ecosystem after Razorpay's investment. In May, the company clocked 13.5 million UPI transactions. It is ranked 21st on the UPI leaderboard, which is currently dominated by PhonePe and Google Pay. 'Our investment in POP is driven by a clear purpose and that is to serve D2C merchants better. In today's crowded D2C space, brands need more than just payment solutions; they need tools to earn trust, drive repeat purchases and build real loyalty,' said Harshil Mathur, Co-founder and Chief Executive Officer (CEO), Razorpay.
Entrepreneur
17-06-2025
- Business
- Entrepreneur
Fintech Startup POP Raises USD 30 Mn from Razorpay
The funds will be deployed to enhance product innovation, strengthen POP's loyalty-focused offering via its POPcoins rewards currency, and deepen partnerships with D2C and lifestyle merchants. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Bengaluru-based fintech startup POP has announced the raising of USD 30 million in funding from Razorpay, a full-stack financial services platform, marking a strategic move to revolutionise the country's digital payment and commerce landscape. The funds will be deployed to enhance product innovation, strengthen POP's loyalty-focused offering via its POPcoins rewards currency, and deepen partnerships with D2C and lifestyle merchants. Founded in 2023 by former Flipkart executive Bhargav Errangi, POP is a rewards-first consumer platform that merges UPI payments, a D2C-focused marketplace, and a co-branded RuPay credit card into one seamless ecosystem. At the heart of its offering is POPcoins, a brand-funded rewards currency that users earn through UPI payments, in-app shopping, or by using POP's RuPay credit card, and redeem across a growing network of partner merchants. Since launching its UPI platform in June 2024, POP claims to have quickly scaled to over six lakh daily UPI transactions, one million monthly active transactors, and over two lakh monthly commerce shipments. It has also issued 40,000+ co-branded RuPay credit cards in partnership with Yes Bank. "India doesn't need another cashback-only rewards app. We need a new rewards economy built on long-term purpose. POPcoins are designed to build habits, increase retention, and reduce CAC for merchants—all while making payments more rewarding," said Bhargav Errangi, Founder of POP. "With Razorpay's support, we will double down on our mission to build a loyalty-first payments ecosystem that helps businesses scale with purpose and speed." The investment signals Razorpay's deeper push into loyalty, engagement, and commerce enablement. "In today's crowded D2C space, brands need more than just payment solutions. POP bridges the gap with a powerful platform that turns everyday transactions into lasting relationships," said Harshil Mathur, Co-founder and CEO of Razorpay. The deal complements Razorpay's acquisition of PoshVine and aligns with its vision to empower merchants through Razorpay Engage, India's first intelligent marketing growth suite.
Mint
09-05-2025
- Business
- Mint
Rewards offered by different UPI platforms such as Google Pay, PhonePe, Paytm, CRED, Mobikwik. Check list here
If you use a digital payment app such as Google Pay, PhonePe, Paytm or Mobikwik and are accustomed to using a credit card at the same time – it is recommended to link your credit card to one of the UPI apps. This can be done seamlessly through RuPay Credit Card. Almost all banks have mapped their credit cards to RuPay functionality, thus enabling these cards to route payments via UPI apps. Most of these UPI apps provide cashbacks and rewards on their usage. These rewards are of different types and can be redeemed differently. I. Google Pay: It offers scratch cards and cashback. These offer variable rewards and users can earn cashback through scratch cards on eligible transactions. These are directly credited to the bank account. II. PhonePe: It offers cashback on certain merchants on certain instruments and bill payments. These are credited to the PhonePe wallet which can be used to make payments only while no withdrawals are allowed. III. Paytm: Its rewards are given in form of cashback and referral bonuses. It offers upto ₹ 75 cashback on UPI transactions, ₹ 50 per successful referral. These cashback and referral bonuses are credited to Paytm wallet. IV. CRED: It offers occasional 100 percent cashback promotions, rewards for timely credit card payments. They are redeemable for products, services or experiencers via the app. They focus on rewarding responsible financial behaviour with premium offers. V. Mobikwik: Mobikwik offers cashback and rewards on various transactions while the exact amounts vary. They are redeemable for bill payments, recharges and more within the app. It offers a blend of wallet services with UPI functionality. VI. POP: POP offers reward points in the form of Popcoins. In terms of value, it offers 2 percent POPcoins on UPI transactions and upto to 10 percent on online shopping with RuPay credit card. They are redeemable for various rewards within the app. They are designed for every transaction. Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
