ONDC DISCOUNTS

Magicpin records 15x order growth on ONDC network in 15 months, crosses 1.5 lakh daily orders

"In about 1.5 years, we have double-digit market share in major cities, with more than 10 per cent market share in key markets like Delhi or Bengaluru in terms of overall food delivery. We are thrilled with magicpin's success on ONDC, where we have reached 1.5 lakh daily orders for food delivery and logistics on the network," magicpin CEO and cofounder Anshoo Sharma said.

Magicpin to invest Rs 100 crore to onboard 1 lakh new restaurants and cloud kitchens on ONDC

Magicpin committed Rs 100 crore to onboard 1 lakh restaurants and cloud kitchens on ONDC, offering zero commission and free home delivery. This investment seeks to boost online food delivery adoption and benefit ONDC and customers alike.

From phones to fries: Flipkart users may soon be able to order food via ONDC

Flipkart users may soon be able to order from various fast-food outlets and restaurants, such as Dominos and McDonalds, from Flipkart app. This development is noteworthy because the government started ONDC to counter the dominance of Amazon and Flipkart. Recently several top Flipkart executives met ONDC officials for the integration.

Final ONDC seller to be liable for TCS, CBDT clarifies

In detailed guidelines, the CBDT said TCS will be collected on the gross amount charged to the customer. In case the buyer receives a discount, the TCS will be on the final invoice raised to the buyer irrespective of whether the first e-commerce operator is offering the discount or the second. The CBDT also said in case of purchase of goods which are not under the purview of Goods and Services Tax, the TDS will be applicable on the amount without including state levies, VAT or other tax.

ONDC logs meteoric rise; challenges are climbing fast too

ONDC – one of the biggest bets by New Delhi as far as its array of digital public goods are concerned – was floated with an aim to decentralise ecommerce in the country and bring more small sellers and buyers from across the nation to the digital medium.

ONDC launches B2B ecommerce, SignCatch and Rapidor join network

While SignCatch licences its platform-as-a-service (PaaS) solutions to brands, distributors, retailers, Kochi-based Rapidor is a platform that enables B2B trade and transactions in closed loop networks.

ONDC can’t scale up using discounts: CEO Thampy Koshy

ONDC MD & CEO T Koshy speaks to TOI about the growth strategy, big e-commerce firms joining the network. Excerpts:

ONDC can’t scale up using discounts: CEO T Koshy

ONDC, which has spent a few crores of rupees on discounts, believes the network cannot scale up on doles and they will be discontinued after a few months. ONDC MD & CEO T Koshy speaks to TOI about the growth strategy, big e-commerce firms joining the network.

Govt to certify ‘permissible’ games for now; crypto transfers to wallets on radar

There are many types of online real money games, and the government has not banned all of them, only those that involve wagering, Rajeev Chandrasekhar, minister of state for electronics and IT (MeitY), told ET. This and more in today’s ETtech Top 5.

6 reasons why ONDC changed its incentive structure from June 1

ONDC to launch revised incentive structure from June 1

Under the new scheme, the maximum discount that can be offered per order has been limited to Rs 100, compared to Rs 125 earlier. Further, the discount will only be offered to users whose order value is more than Rs 200 in the case of food orders, and Rs 300 in the case of other products.

Explained: ONDC vs Zomato-Swiggy and what it means for the food-delivery space

Menu items from major food chains, including McDonald’s, Taco Bell, Behrouz Biryani, Wow Momo, Pizza Hut and Cafe Coffee Day, are available at a 30-80% discount on ONDC platforms such as Paytm and Magicpin compared to Swiggy and Zomato.

Control is back in your hands: NRAI advises restaurants on ONDC

The ONDC platform has started by offering prices 30-80% lower to consumers and charging significantly lower commissions from restaurants, compared to established food delivery platforms Swiggy and Zomato. In addition, it provides restaurants access to consumer data which can help them to customise offers and promotions.

ONDC can trigger a price war in India’s ecommerce market with growing user base, says GlobalData

While ONDC has a significant number of users and daily orders of consumer goods and food deliveries since its launch in 2022, it has a long way to go to match the technological and service capabilities of industry heavyweights, such as Amazon, Flipkart, Zomato, Swiggy, and Big Basket.

ONDC not significant near-term threat for Zomato: Kotak Equities

Online food delivery platform Zomato is unlikely to be significantly affected by the government-led Open Network Digital Commerce (ONDC) in the near term given its larger scale and cost-competitiveness, says Kotak Institutional Equities. However, in the long term, ONDC's impact is less clear, the brokerage firm added. Zomato's variable cost of delivery per order is INR75 ($1), including delivery and other expenses, and a significant proportion of its other costs are related to customer and restaurant appeasement, the company said.

ONDC benefits may not be enough to offset Zomato, Swiggy scale: Jefferies

It is unsustainable for ONDC-enabled apps to offer higher discounts or lower delivery charges in the absence of the incentives funded by the platform, the brokerage noted. ONDC itself would take time to become viable, it added.

Magicpin reports 100% growth in daily orders on ONDC network

Magicpin, discovery and discount platform for offline and physical retail has reported 100% growth in daily orders on the ONDC network week ending May 07, 2023.

Paytm may forego buyer app commission on ONDC: sources

This may help to further reduce the price on the open source network that is already challenging the duopoly of Swiggy and Zomato in the food delivery space.

ONDC caps incentives for sellers; price difference with Swiggy, Zomato may reduce

So far, ONDC was offering an incentive of up to Rs 75 as discount to be provided for logistics for buyeon every eligible order. But with the recent amendment to the clause, ONDC has added two new additional conditions.

How will ONDC shake up Zomato and Swiggy? ICICI Sec’s Abhisek Banerjee analyses

Abhisek Banerjee of ICICI Securities, believes that ONDC is initially stealing business from aggregators, but it will limit the potential commission rates that they can charge. The discount offered by ONDC is currently funded by the company, which is unsustainable in the long-term. However, a 15-20% pricing difference between ONDC and aggregates like Swiggy or Zomato may be sustainable, which will attract price-sensitive customers.

Government’s ONDC arrives with a price war taking on food-delivery majors Zomato, Swiggy

Prices on brands such as McDonald’s, Taco Bell, Behrouz Biryani, Wow Momo, Pizza Hut and Cafe Coffee Day are at 30-80% discounts on ONDC ordering platforms including Paytm, Magicpin and PhonePe compared to what consumers have to pay for the same items at Swiggy and Zomato.

Magicpin scales up to 10,000 orders per day on ONDC network

Magicpin had in early April announced that it had on-boarded over 25,000 food merchants from its network of local restaurants while making it the largest restaurant aggregator/supplier on ONDC. These merchants are now available on other start up participants such as PayTm and PhonePe’s Pincode, Spice Money, Mystore, Craftsvilla, Meesho etc as well.

Magicpin onboards over 22,000 restaurants on ONDC

With this integration, all sellers registered with magicpin can be visible to customers across multiple buyer applications on the ONDC network.