Indian online retailer Flipkart is closing down its payment gateway PayZippy, as it failed to sell the service to as many customers as the company had expected.
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Flipkart has also made a strategic investment in mobile payment company Ngpay (Jigrahak Mobility Solutions), according to a report from MediaNama.
A Flipkart spokesperson said: "Payments is core to Flipkart and we see this partnership giving rise to the largest mobile payments brand in India. Sourabh Jain’s expertise will help us drive innovation in payments, with features and products that provide a competitive end-to-end customer experience, to redefine the payments ecosystem in India.
"While we phase out our own payments product, PayZippy, nothing changes for our customers, who will continue to enjoy all the benefits of a safe and secure payment system through Flipkart.com."
Flipkart had launched PayZippy in July last year, under a separate firm Flipkart Payment Gateway Services (FPGS).
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