The Open Network for Digital Commerce (ONDC) is rapidly gaining recognition as a transformative force in India's digital economy. With its open and interoperable nature, ONDC has attracted the attention of several renowned companies seeking to tap into its vast potential across various industries.
The ONDC initiative is not just a platform; it represents a paradigm shift in how businesses operate and interact in the digital space.
Companies leaping to ONDC
One such company that has joined ONDC is boAt, a leading electronics brand. Through the integration powered by Shopalyst's plugin for Shopify stores, boAt's wide range of products will now be available on the ONDC network, allowing them to create multiple consumer touchpoints and make their products easily accessible to buyers from all ONDC seller apps.
Aman Gupta, Co-Founder & CMO, BOAT - "We are deeply aligned to improving the adoption of e-commerce across India. Being onboarded on ONDC with Shopalyst's technology increases availability and access of boAt's world-class products on all digital platforms adopting the ONDC network."
Another company that has recognized the value of ONDC is Airpay, which sees the initiative as an opportunity to offer a wide range of products and services to its business partners. Kunal Jhunjhunwala, Founder and Managing Director of Airpay, emphasizes how ONDC levels the playing field for small and medium enterprises, enabling increased trade of locally manufactured goods and multiplying the investment and production of MSMEs.
Amazon, a prominent player in the e-commerce industry, has also joined ONDC, aiming to enhance the ecosystem and foster a more inclusive and competitive digital commerce environment. By joining ONDC, Amazon acknowledges the challenge faced by marketplace sellers in moving out of the platform ecosystem and seeks to address it.
Razorpay, a fintech unicorn, has boarded the ONDC platform to streamline payment processes for its network participants. By offering a payment reconciliation service and providing an integrated single view of all transactions, Razorpay simplifies payment operations and ensures a seamless experience for all participants on the ONDC platform.
Paytm Mall, the e-commerce platform of India's largest digital wallet company, Paytm, has also integrated with ONDC to ensure high performance, security, and revolutionize the way payments are made. Through the ONDC platform, Paytm Mall can securely exchange data with other entities, offering customers access to the latest product information, better pricing, and delivery options.
Meesho, dedicated to empowering small sellers and hyperlocal businesses, views ONDC integration as a means to achieve this goal. By connecting buyers with hyperlocal sellers, Meesho contributes to creating an inclusive e-commerce ecosystem where small businesses can thrive.
WOW Skin Science, a discovery commerce startup, has also recognized the importance of innovation and being in tune with recent disruptions. By launching WOW on ONDC, the company aims to expand its customer base and widen its reach across the nation. Shopalyst ensures that WOW products are instantly discoverable on the ONDC network, further enhancing their visibility.
The participation of these companies reflects the potential of ONDC to revolutionize digital commerce in India. With their involvement, the ONDC ecosystem expands, offering increased choices for consumers, leveling the playing field for businesses, and driving economic growth.
What experts say
Industry experts have weighed in on the growth and potential of ONDC, recognizing its significant impact on digital commerce in India. Here are their insightful comments:
Bobby Verghese, consumer analyst at GlobalData, said “After the BHIM unified payment interface and the RuPay credit card, the ONDC is the latest initiative of the Indian Government to build a digital economy. The government launched the ONDC as an open online sales platform for large, medium, and small-scale businesses,"
Alok Chawla, founder of Kiko Milano said “The ONDC scale-up will result in a new wave of price wars. While sellers on ONDC will sell for less primarily because there are lower commissions, the platforms losing business could, in the short term, increase discounting to end consumers to bring prices down and sustain volumes for their sellers".
Sanjiv Mehta, managing director at HUL said “What UPI (Unified Payments Interface) has done to payments, ONDC could potentially do to digital commerce. ONDC constitutes interoperable systems and not the walled garden of the traditional marketplace players. This is where democratization will happen”.
In conclusion, the Open Network for Digital Commerce (ONDC) is revolutionizing digital commerce in India. By attracting leading companies from various industries, the platform is creating a more inclusive and competitive environment. Through seamless integrations, streamlined payment processes, and increased market accessibility, ONDC is empowering businesses of all sizes and providing consumers with more choices.