Authorities-backed initiative ONDC (Open Community for Digital Commerce) is commencing its beta testing with public customers in Bengaluru on September 30, 2022. An official acquainted with the information stated that the gentle launch will function over 200 retailers throughout grocery and F&B (meals & drinks).
Apart from Paytm, ONDC is about to go reside in Karnataka with 4 different buyer-side apps equivalent to non-public sector lender ‘IDFC’, e-commerce agency ‘CraftsVilla’, rural fintech firm ‘Spice Cash’, and e-commerce platform ‘MyStore’. Additional, seven extra purchaser apps together with Flipkart-owned PhonePe and Kotak Mahindra Financial institution are additionally underneath implementation at superior levels.
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Ram Rastogi, Chairman, Governance Council, Fintech Affiliation for Shopper Empowerment (FACE) shared the information in a LinkedIn publish. He stated, “As corporations with substantial person bases like telecom operators, banks and social media platforms join ONDC, a shopper will now not be depending on a specific e-commerce platform. They’ll entry the community with their financial institution, telecom or chat app, or any entity that could be a buyer-side accomplice on ONDC. Whichever purchaser facet app the patron makes use of, they may have entry to the whole checklist of sellers current on the community.”
Main logistics gamers equivalent to Dunzo and LoadShare are additionally piloting on the platform, with Shiprocket anticipated to go reside in a number of weeks, bringing intercity delivery capabilities. Different corporations equivalent to Seize and Flipkart’s logistics arm ‘eKart’ are at their remaining levels of integration.
Established by the Division for Promotion of Business and Inner Commerce (DPIIT), ONDC is a personal, non-profit firm just like the Nationwide Funds Company of India (NPCI) which runs the UPI platform.
Presently, about 60% of India’s e-commerce market is managed by two US-based platforms i.e., Amazon and Flipkart.
Sources say that the community has set a 3% cap on the buyer-side fee (charged from seller-side apps) whereas the seller-side fee (charged from the retailers) is about 10–15%, as towards 25–40% charged by platform-based marketplaces.
