T Koshy, Chief Executive Officer for the Open Network of Digital Commerce, expects India’s e-commerce platform to hit 100,000 transactions per day, for retail and food delivery, by January next year. ONDC is India’s attempt to break the monopoly of e-commerce giants like Amazon and Flipkart, by promoting open networks for local commerce. Businesses of all kinds can integrate into ONDC’s to access buyers, sellers and delivery partners needed for e-commerce.
Speaking at the sidelines of the Global Fintech Fest, Koshy told businessline that ONDC is doing 40,000 retail transactions at peak presently.
Also Read | Protean eGov partners PayNearby to democratise credit through ONDC
At present ONDC is present in the retail sector and the mobility sector. ONDC started out as a grocery and food delivery network, onboarding merchants in this sector, before moving into the mobility sector by bringing the Bengaluru taxi platform, Nammi Yatri into the fold,
However, ONDC’s mobility business is surpassing its retail network. “Our mobility business across Mysore, Kochi and Bangalore, is averaging 100,000 transactions daily,” he said. He hinted that ONDC will be announcing a pilot project in another major metropolitan for mobility soon.
Also Read | ONDC is making e-commerce space democratised for all players
ONDC has around 68,000 merchants on its network. Just as a slew of FMCG companies like PepsiCo and Mondelez have joined or are set to join ONDC. Koshy added that another major FMCG brand will be joining the network soon.
Koshy also added that financial products from banks and NBFCs will also be made available on the platform in the next few months.
businessline has also learnt from sources that banks might be seeking clearances from RBI to be part of ONDC as buyer apps as well. Where consumers buy online groceries or foods on banking apps.
Also Read | ONDC aims for one lakh daily transactions, explores export enablement
Last month, ONDC’s taxi platform in Bengaluru, Nammi Yatri introduced a Rs 25 rupee per day fee for auto drivers using its network. While ONDC has not yet started charging merchants any fee to use its network – it will also start a minimal fee business on its network, once transaction volumes expand in the coming months. “We will likely to introduce a nominal fee for businesses on our network, once there are sufficient volumes,” Koshy said.
