e-commerce firm Flipkart has made a strategic investment in mobile payments firm ngpay.
Terms of the deal are not disclosed. “Payments are core to Flipkart, and we see this partnership giving rise to the largest mobile payments brand in India,” a spokesperson from Flipkart said.
ngpay was founded in 2008 by Sourabh Jain. Meanwhile, Flipkart also said it would phase out its own payment product Payzippy launched last year.