Razorpay is making a significant shift from its usual fintech focus by leading a $30 million funding round in POP, a growing digital payments and rewards platform. This move shows Razorpay's desire to expand beyond just providing payment infrastructure and to take on a more visible role that combines commerce with customer engagement and loyalty tools.

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With this latest capital infusion, Razorpay becomes the major stakeholder in POP, marking a new chapter in its growth strategy. The move reflects Razorpay’s recognition of the growing importance of full-stack digital commerce solutions, particularly as the Indian market matures and consumer expectations evolve.

POP's Rise in the UPI Ecosystem

Launched in June 2024, POP has quickly carved out a space for itself in India’s crowded UPI ecosystem. The app offers users a seamless blend of payment capabilities, shopping options, and a rich rewards program—all under one roof. Within a year, POP has scaled to over six lakh daily UPI transactions and boasts one million monthly active users.

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Tapping into Value-Seeking Consumers

By investing in POP, Razorpay is aiming to give D2C brands a leg up in this evolving landscape. The fintech major sees significant potential in offering an integrated commerce experience—one that combines seamless transactions with rewards and engagement to drive long-term customer loyalty.