WEDNESDAY, OCTOBER 19, 2022
Revolutionising E commerce in India : ONDC Framework
The UPI payment system, which was a launched a few years ago, has revolutionised digital payments in India. What UPI has done to digital payments, OND...C promises to do this to e-commerce. E commerce in the country is mainly controlled by a limited number of very large Indian and global players. And one of their biggest asset is consumer data, which they guard very carefully and mine for their benefit.
ONDC (Open Network for Digital Commerce) is a government of India initiative that creates a framework that enables buyers and sellers to engage in a very seamless and transparent matter, allowing interoperability between different platforms, at the same time ensuring that a buyer (or seller) has full ownership of one’s own data. This is one of its kind initiative in the world, which will revolutionise the e-commerce in India and provide a level playing field to small and medium players.
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Selby
selby@imcnet.org
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