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Exclusive: Flipkart shutting Payzippy, invests in Ngpay

Indian online marketplace Flipkart is phasing out its payment gateway business Payzippy, a little over a year after it launched it, MediaNama had learnt from reliable sources. In response to a query from MediaNama, Flipkart informed us that it has made a strategic investment in mobile payment company Ngpay (Jigrahak Mobility Solutions Pvt Ltd), and it is phasing out Payzippy. Payzippy's website lists clients such as babyoye, Bluestone.com, Makemytrip, Travelyaari, Caratlane.com, Yepme, Zansaar, Lenskart and Yepme, and the company has said that nothing will change for customers, since the technology developed by the Payzippy team will continue to power payments for Flipkart. Note that the Economic Times, in July 2014, had reported that Flipkart may buy Ngpay. Flipkart has said that it has made a strategic investment. Ngpay appears to have a fairly comprehensive mobile app based marketplace, offering ticketing from IRCTC, multiple bus…

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Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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