ONDC 5000 TRANSACTIONS
ONDC postpones network charges implementation
ONDC had first announced on December 3, 2024, that it would levy a network fee of Rs 1.5 excluding taxes on seller apps for every successful transaction where the total transaction value exceeds Rs 250 after discounts and taxes. It had told network participants in an email that the fee had been carefully calibrated to sustain the infrastructure and critical network services.
Lure of diversification, higher returns and global exposure driving Indian investors to US markets: Subho Moulik
Subho Moulik, CEO of Appreciate, explains the increased interest of Indian investors in US markets, emphasizing diversification, higher returns, and advanced sector opportunities like AI and biotech. He highlights the importance of strategic risk management and regulatory frameworks. Moulik also discusses emerging trends, market opportunities, and the role of AI in transforming investment strategies.
Global Economic Summit 2024 to empower MSMEs through fintech solutions
India's fintech sector is set to host the 9th Global Economic Summit in Mumbai from August 8-10, 2024, focusing on 'FinTech: Accelerating the Digital Revolution.' The event features support from ONDC, DLAI, and Atal Incubation Centre - RMP, with notable speakers discussing evolving market trends and critical technologies.
Govt says 5,000 Farmer Producer Organizations onboarded on ONDC
Around 5,000 FPOs have joined the ONDC portal, accessing market, digital marketing, online payment, business transactions. The central scheme aims to register 10,000 FPOs, improving production, rural economy, and providing job opportunities, financial assistance, credit guarantee facility.
Impact of RBI’s year-long ban on payment processors; Meta’s Joel Kaplan interview
Happy Monday! Almost a year after the country’s central bank imposed a freeze on onboarding new merchants for online payment firms, they have been forced to scout for alternative revenue sources.
India vs Pakistan: ONDC scores more than 65,000 retail orders on match day
These orders came from 600 cities. Forty seven percent of these orders came from the food and beverages sector. Multiple seller apps that ET spoke with on the network who are major players in the food and beverages sector on ONDC said individually also they saw orders peak on Saturday like never before.
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How PhonePe is enabling digital payments for a host of small and medium merchants in India
Fintech player PhonePe’s recent add ons – SmartSpeakers and Pincode – are driving digital inclusion by making it easier for small merchants to navigate the process.
Razorpay announces integration with government-backed ONDC
The Bengaluru-based payments solution startup said it will provide payment reconciliation services to network participants such as buyers, sellers and logistic partners to streamline the payment processes on ONDC.
ONDC to evaluate etailers based on commitment, says CEO Thampy Koshy
In April 2022, the network piloted a soft launch in five cities - Bengaluru, Delhi NCR, Shillong, Bhopal and Coimbatore. Since then, ONDC has also started a beta pilot in Bengaluru and in some tier-II cities.
No payment gateway access for non-permissible online games; won’t forego margins for growth: TCS CEO-designate
As the online gaming industry and the government move closer towards implementing a self-regulatory mechanism for the sector, the Ministry of Information Technology (IT) is taking steps to prohibit non-permissible platforms which may be allowing illegal betting and gambling firms to operate.
Amazon to integrate services with ONDC; cricketer Deepak Chahar, wife Jaya float fantasy sports app
Amazon said the move aims to provide greater technology support to the seller community and further empower small businesses.
Scoop: ChrysCapital eyes $100 m funding in Lenskart; Match group may invest in matrimonial site Shaadi
Today we are breaking a story on private equity major ChrysCapital holding talks to write a $100-million (Rs 828-crore) cheque in eyewear retailer Lenskart. This is part of a larger $400-500 million funding round at the company.
ONDC targetting 5,000 transactions a day by March-end from current 200
ONDC is seeing significant adoption, with multiple enterprises coming together. More than 18,000 merchants across product categories of groceries, food and beverages, and home decor are live on ONDC in more than 150 towns and cities.
Ridham Desai: The foundations of India are set for a sea change in the country's economic fortunes
In the coming decade, the number of people employed in India for jobs outside the country is likely to at least double to over 11 million, and we estimate global spending on outsourcing could rise from $180 billion per year to around $500 billion by 2030. This will have significant effects on both commercial and residential real estate demand. If India is already the “office to the world”, it is increasingly becoming its factory as well, as manufacturing capex rises helped by government policies, and Morgan Stanley’s multipolar world thesis, which is prompting localisation of supply chains.
Unicorns face a funding crunch; CCI clears PayU-BillDesk deal; and IT firms boost campus hiring
Bengaluru-based Acko had signed a term sheet with PayU, owned by Prosus, but the South African conglomerate decided not to go ahead with the financing.
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