By 2025, Paytm will add 10 million merchants to the government-backed Open Network for Digital Commerce (ONDC). On Monday, One97 Communications CEO and founder Vijay Shekhar Sharma shared this ambitious ambition during an ONDC event, underscoring the company's dedication to helping small merchants and enterprises join the mainstream market.
Sharma said in a report that Paytm's ecosystem helps small firms reach the mainstream economy through digital payments. "Paytm's economy relies on small retailers, and we want to help them mainstream. ONDC will have 10 million stores by 2025.”
The government-backed Open Network for Digital Commerce (ONDC), open to all e-commerce partners, including digital payment firms, has gained popularity. This platform is vital for digital commerce growth because Paytm, PhonePe's Pincode, and MagicPin are already there.
Vijay Shekhar Sharma noted that Paytm had redirected over 11.8 million consumers to ONDC. He said a large number of merchants on ONDC will draw clients actively seeking their services. He suggested addressing trust and discovery difficulties, noting that many customers are willing to shop online once these issues are resolved.
ONDC's Managing Director and CEO, T. Koshy, gave an encouraging update on the platform's performance. He reported 1,200 transactions in January and nearly 5 million this month.Transactions across 600 cities indicate widespread acceptance. Koshy predicted a major spike in the following 1–2 years. Adding one more zero to the existing number of transactions in a year is the platform's ambitious ambition, he said.
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