T Koshy, the Chief Executive Officer of ONDC expects the daily transactions on the network to hit the 1,00,000 mark in the retail segment.
Key Highlights
- Retail transactions could hit the daily 1 lakh mark by January 2024.
- 40,000 daily retail transactions on the network currently.
Speaking on the sidelines of the Global Fintech Fest, T Koshy, CEO of the Open Network for Digital Commerce (ONDC), told a leading news portal that he expects the network to clock 1 lakh transactions daily in the retail segment by January 2024.
Elaborating on the daily transactions on the ONDC network, he mentioned that the network currently handles a daily transaction of about 40,000 in the retail network. However, the daily transactions on the platform in the mobility segment already average around 1 lakh in 3 cities- Bangalore, Kochi, and Mysore.
The ONDC network currently functions in the retail segment and the mobility segment with a plan to offer financial services in future, with the sector having high growth opportunities on the platform.
The network is in talks because of its exponential growth and the leading names in the industry joining the network. Recently, Ola started testing its app for offering food delivery services on the ONDC Network.
How to order from ONDC apps?
There are several ONDC apps that offer buyer-side services and allow a user to order durable or non-durable consumables. These are referred to as ONDC buyer apps.
A buyer could choose ONDC apps of their liking to order food or any other product being catalogued by the sellers on the ONDC network. The steps to order from that app would be contingent upon the layout and design of the app and hence, would be different for different customers.
There are several apps on ONDC that function as an ONDC buyer app. Some of the famous names include- Paytm, MagicPin, Craftsvilla, Pincode, etc.
The apps may have at times included a separate section within the apps to order from ONDC.
