Integrated financial services platform airpay now live on ONDC: Report

The company said the initiative will enable ONDC to understand and implement key consumer and partner learnings

Press Trust of India New Delhi

Photo via @ONDC_Official on Twitter

Listen to This Article

Integrated financial services platform airpay on Thursday said it has gone live on the Open Network for Digital Commerce (ONDC).

This will enable airpay's vyaapaaris to have access to an array of local businesses offering multiple products and services on ONDC to consumers, it said in a release.

Presently, airpay vyaapaaris offer banking and financial services to more than 60 million consumers in 561 districts and over 7,000 villages in 36 states and union territories, it said.

"Given the democratised nature of an Open Network, it levels the playing field for small and medium enterprises. ONDC also enables increased trade of locally manufactured goods and local sellers, thereby multiplying the investment and production of MSMEs," Kunal Jhunjhunwala, Founder and Managing Director of airpay, said.

The company said the initiative will enable ONDC to understand and implement key consumer and partner learnings.

Thampy Koshy, Managing Director and Chief Executive Officer of ONDC, said that with airpay's assisted e-commerce model, it is one step closer to achieving this goal and are looking forward to bringing formal financial services to the unbanked population of the country.

Also Read

ONDC faces weakening growth online, snags likely to hit expansion

ONDC to test Zomato's dominance; valuation mark-down likely: Analysts

Logistics services platform Delhivery now live on government's ONDC

Discounts, incentives not funded by govt money, clarifies ONDC CEO Koshy

Multi-service platform ONDC beating Swiggy, Zomato: All you need to know

Deutsche Bank to pay $75 mn to settle lawsuit from Epstein victims: Lawyers

Non-skippable 30-sec ads, new pause button on TV, announces YouTube

Pfizer suspends sale of three antibiotics in India over technical issues

Paytm partners with SBI Card, NPCI to launch co-branded RuPay credit cards

Alibaba Group misses revenue estimates, approves cloud unit spinoff

Government-promoted ONDC aims to promote an open platform for all aspects of e-commerce retail. It would help small retailers expand their business through e-commerce medium and reduce dominance of giants in the sector.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: May 18 2023 | 6:21 PM IST

Explore News