ONDC: It is a platform for online e-commerce where buyers and sellers both use this platform for online digital commerce. ONDC worked like a UPI which is a payment interface developed by India in the area of Fintech.
“This will directly compete with big companies like Amazon, Swiggy, and Flipkart. Friends, this is also called the UPI of online shopping and digital commerce.”
What is ONDC?
ONDC means Open Network for Digital Commerce is a non-profit private company. ONDC is the world’s first inclusive large-scale e-commerce system. ONDC empowers all businesses in India to benefit from e-commerce.
It was incorporated by the DPIIT (Department for Promotion of Industry and Internal Trade) under Section 8 of the Indian Companies Act, 2013 on December 31, 2021.
Both sellers and buyers can register on this platform. Sellers can join to sell their products and buyers can join to purchase anything. It is an open network that provides a digital commerce platform to buyers and sellers.
To know more about the ONDC portal visit: ONDC Org
According to the ONDCorg website India is the 3rd largest country in the world for online shoppers with 14 Cr. e-retail shoppers in 2020. While the retail penetration is only 4%, India has taken this step to increase it.
So that more and more retailers can be added to the online e-commerce platform.
QCI and Proteon eGov Limited are the two entities that are included as founding members. Additionally, the State Bank of India, Kotak Mahindra Bank, Punjab National Bank, SIDBI, Axis Bank, and HDFC have also made significant investments.
Why has India initiated ONDC?
India has been a world leader in demonstrating the successful adoption of digital infrastructures at the population scale, such as UPI, AADHAAR, and more. ONDC (Open Network for Digital Commerce) is yet another tech-based initiative to transform the way e-commerce functions in the country by enabling e-commerce through an open protocol based on open-source specifications. Source: ondc.org/about-ondc
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How ONDC works?
Ondc works like a platform where sellers and buyers choose their needs. UPI is integrated with many financial apps such as google pay, phone pe, and Paytm same as that ONDC work. Paytm integrates ONDC into this app and users will shop from Paytm using ONDC.
Zomato and Swiggy have a duopoly in the online food delivery market in India since it comes to the online market. While you order food using Zomato and Swiggy apps.
These deliver food from the seller’s restaurant to your location or home in a short time, they also work as ‘middlemen’ which further increases the price of your online orders. ONDC which means Open Network for Digital Commerce is all set to change this by cutting down the middlemen between the business and the consumers.
When you order food or a product from the ONDC platform using the Paytm app, this will charge a small commission for this order and then the order is passed on to the restaurants. Brands and businesses need to set up their service on ONDC, which will then be visible to all customers across the country.
It also allows restaurants the option to build their own sub-portal.
How to join ondc?
Visit the official website ondc.org to join the ondc platform. Join the ONDC network by submitting the Network Participants (NP) form.
Follow these steps to join ONDC:
Open ondc.org official website for Open Network for Digital Commerce.
Click on ONDC participants and feel Network Participant Profile Form.
Now wait for verification.
How to use ondc?
You can use this platform like UPI. You don’t need to download any app or visit the website for ondc. Just go to Paytm, spice money, Pincode, or magic pin app or website and search ONDC in this app/website and use this platform for online orders.
How to buy from ondc?
Step: 1 Open any app (Paytm, spice money, my store, Pincode) and search ONDC in Paytm.
Step: 2 Now you see the list of products in various categories
Step: 3 Choose your product category and enter the address
Step: 4 Add your products to the ‘Cart’ and go to the cart
Step: 5 Now click on the proceed to pay and complete the payment
your order will be placed successfully using this method on the Paytm app.
Frequently Asked Questions
Q.1 How ondc will work?
Ans. ONDC will work as an open network platform for digital e-commerce for small businesses and retailers who do afford a huge investment in big websites and apps.
Q.2 Does ondc have an app?
Ans. No, ONDC does not have a special app for online orders it works on existing websites or apps such as Paytm, spice money, and Mystore.
Q.3 What does ondc stand for?
Ans. ONDC stands for Open Network for Digital Commerce.
Q.4 Is ondc a government company?
Ans. No, this is a private and non-profit company which register under Section 8 of the Indian Companies Act, 2013.
Q.5 Is ondc listed in stock market?
Ans. No, currently this is not listed on the stock market.
Q.6 What is ondc India?
Ans. On ONDC’s open network, the only thing that counts is the quality of service provided. Whether you are a big or small business.
Q.7 How to register on ondc?
Ans. Go to ondc.org and feel the NP form and register on ondc.