Double Win for POP: Funding and UPI Approval
Today, we’re looking at the incredible news that POP, a Bangalore-based startup, has raised $2.4 million in seed funding! This is not simply any investment round. POP is enjoying a double victory! They not only raised a considerable amount of capital, but they also gained approval from the National Payments Corporation of India (NPCI) to become a Third-Party Application Provider (TPAP). This essentially implies POP’s app, POPclub, can now accept UPI payments, joining the ranks of major players such as Google Pay, PhonePe, and Paytm.
This is a significant thing for POP, especially given their target audience of Generation Z and late millennials. UPI payments have become a game changer in India, providing a quick, safe, and simple means to conduct transactions. With UPI now available, POPclub becomes a more appealing venue for the tech-savvy younger generation.
Building a Network with POPcoins
But POP’s goals extend beyond simply accepting UPI payments. They’re creating a one-of-a-kind ecosystem based on a virtual money known as POPcoin. The fun thing is that users earn POPcoins for each UPI transaction they complete within the app. These POPcoins can then be used to buy a wide range of products from leading direct-to-consumer (D2C) brands in areas like as cosmetics, fashion, electronics, and more. Consider mCaffeine, HUL’s Simple Skin Care, Adil Qadri – you name it! POP has now partnered with over 200 brands, providing consumers with a diverse shopping experience powered by their POPcoin profits.
What Does This Mean for You?
If you’re a Gen Z or millennial who enjoys shopping and wants to be rewarded for it, POP may be worth looking into. The software gamifies the shopping experience by allowing you to earn cash for common purchases. Furthermore, with UPI connectivity, payments are a breeze.
Looking Ahead for POP
This funding round and UPI approval are important milestones for POP. The new funding will surely fuel their expansion plans, allowing them to broaden their brand network, improve the app experience, and attract more users. It’ll be interesting to see how POP uses POPcoins and UPI connectivity to carve out a niche in the competitive Indian financial space.
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