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India’s open e-commerce network expands to B2B transactions

TechCrunch · 2y ago

India’s open e-commerce network expands to B2B transactions

The article discusses the growth of business-to-business (B2B) transactions in India and the role of the Open Network for Digital Commerce (ONDC) in facilitating digital payments and e-invoicing. The ONDC aims to create an open and interoperable platform for B2B transactions, enabling seamless integration between buyers, sellers, and service providers. The initiative has the potential to streamline and digitize India's B2B ecosystem, boosting efficiency and transparency.

Related News

ONDC Turns 3! Seven Lakh Sellers Including Ola, 150 Million Transactions, and Counting

OutlookIndia

OutlookIndia · 8m ago

ONDC Turns 3! Seven Lakh Sellers Including Ola, 150 Million Transactions, and Counting

The Open Network for Digital Commerce (ONDC), a government-run e-commerce platform in India, celebrated its third anniversary having onboarded over seven lakh sellers, including Ola, and completed over 150 million transactions. Launched to support small enterprises by providing an open digital marketplace, ONDC aims to transform India's e-commerce landscape by eliminating middlemen. Prime Minister Modi and Commerce Minister Piyush Goyal acknowledged its contribution in empowering businesses and creating a level playing field.

ONDC's growth slows to 5% in August amid reduction of cash incentives

Money Control

Money Control · 1y ago

ONDC's growth slows to 5% in August amid reduction of cash incentives

In August, on-network logistics transactions for orders increased by 20% month-on-month to reach 1.7 million. Open Network for Digital Commerce (ONDC) recorded 12.58 million transactions, a 5% growth compared to July. The mobility category accounted for 4.74 million transactions, while the non-mobility category, including retail purchases and on-network logistics transactions, made up the remaining 7.84 million. The volume of grocery orders contracted by 11% in August, while food and beverage orders rose 12.5%. ONDC aims to increase e-commerce penetration to 25% in the next few years.

Paytm to bring 10 mn merchants on ONDC platform by 2025: Vijay Shekhar Sharma

Livemint

Livemint · 1y ago

Paytm to bring 10 mn merchants on ONDC platform by 2025: Vijay Shekhar Sharma

Paytm is considering onboarding 10 million merchants by 2025 on the government-backed Open Network for Digital Commerce platform. The company has already seen close to 11.8 million customers routed to its product from the platform. The Open Network for Digital Commerce (ONDC) has over 10 million customers, which is one-fifth of the total e-commerce market. The platform aims to address issues of trust and discovery to attract more customers and increase transactions.

Is ONDC’s gamble paying off?

Economic Times

Economic Times · 1y ago

Is ONDC’s gamble paying off?

Open Network for Digital Commerce (ONDC) launched last year to challenge the dominance of e-commerce giants like Amazon and Flipkart in India. It aims to increase digital consumption in India and generate opportunities for startups. Despite achieving some milestones, ONDC faces challenges such as supporting new entrants and scaling up operations. The network has seen a significant increase in transactions and aims to increase e-commerce penetration in the country. However, profitability remains a concern, as the operation-heavy nature of e-commerce makes it challenging to generate sustainable business.

ONDC Rolls Out Saarthi To Help Businesses Build Customised Buyer Apps

Inc42 · 1y ago

ONDC Rolls Out Saarthi To Help Businesses Build Customised Buyer Apps

Saarthi, a new app powered by Bhashini, aims to facilitate smooth integration with the Open Network for Digital Commerce (ONDC). With support for five languages, including Hindi, English, Marathi, Bangla, and Tamil, the app plans to expand to all 22 languages. In July, ONDC surpassed 12 million monthly e-commerce transactions, with 4.4 million originating from the mobility sector.

Uber eyes B2B logistics push in India through state-backed open commerce network | TechCrunch

TechCrunch · 4m ago

Uber eyes B2B logistics push in India through state-backed open commerce network | TechCrunch

Uber aims to enter India’s B2B logistics market by collaborating with the Open Network for Digital Commerce (ONDC) to offer logistics services, starting with food deliveries and expanding to various sectors. This move, alongside its metro ticketing initiative, aims to consolidate Uber's role in India despite increasing competition. ONDC, designed to boost digital commerce, faces challenges due to declining retail orders and leadership changes, yet sees potential in its partnership with Uber for future innovations.

Zoho jumps on to ONDC bandwagon with seller app called Vikra

Money Control

Money Control · 1y ago

Zoho jumps on to ONDC bandwagon with seller app called Vikra

Bootstrapped SaaS unicorn Zoho has launched a seller-side platform on the Open Network for Digital Commerce (ONDC) to compete with e-commerce giants like Amazon and Flipkart. The Vikra app, which is ONDC protocol compliant, allows sellers to set up online stores and gain visibility on popular buyer-side apps such as Paytm, Ola, and Snapdeal. It offers features like onboarding, order fulfillment, shipping, cataloguing, customer dispute management, and analytics. Zoho aims to bridge the e-commerce divide and increase e-commerce penetration to 25% within the next few years. The ONDC recorded 12.58 million transactions in August, with a 5% month-on-month growth.

ONDC to touch 10 million transactions in June: official

Economic Times

Economic Times · 1y ago

ONDC to touch 10 million transactions in June: official

The Open Network for Digital Commerce (ONDC) is set to reach 10 million transactions in June, according to a senior official. The open network has been consistently adding one million transactions per month, showcasing strong growth. Additionally, testing of financial services with loans has begun, and insurance offerings are expected to launch soon. ONDC hopes to surpass major ecommerce players like Flipkart and Amazon in the future. The network has proven its success as an open network and has also provided export opportunities. Small Industries Development Bank of India (SIDBI) is supporting MSMEs in various ways, including onboarding them onto the ONDC.

ONDC clocks 1.2 million transactions during Diwali week

Business Today

Business Today · 1y ago

ONDC clocks 1.2 million transactions during Diwali week

Government-backed Open Network for Digital Commerce (ONDC) recorded almost 1.2 million transactions during the festive week leading up to Diwali in over 600 cities. The growth was driven by categories like food and beverages, grocery, electronics, fashion, home and kitchen, mobility, and health and wellness. This reflects the shifting consumer behavior towards online shopping and the desire for the best deals and discounts. ONDC aims to provide an alternative to traditional ecommerce apps, offering a wide range of products and brands. The network also supports social sector sellers, making e-commerce accessible to artisans, weavers, and food processors.

ONDC logs meteoric rise; challenges are climbing fast too

Economic Times

Economic Times · 2y ago

ONDC logs meteoric rise; challenges are climbing fast too

The Open Network for Digital Commerce (ONDC) saw a significant surge in transactions, reaching over 3.3 million cumulative transactions in September. This is a considerable increase from just 1,000 transactions in January. ONDC, a government-backed open platform for hyperlocal ecommerce, aims to decentralize ecommerce in India and promote the participation of small sellers and buyers. However, as the platform grows, it also faces numerous challenges.

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