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The government's Open Network for Digital Commerce (ONDC) platform will democratise e-commerce for millions of small retailers in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>, paving the way for the rise of more dedicated distribution and logistics companies, Infosys Chairman and Co-founder <keyword id="44604" type="General" weightage="80" keywordseo="nandan-nilekani" source="Orion">Nandan Nilekani</keyword> said on Tuesday. According to him, ONDC will not be limited to a few players but everyone in India - a person owning a small grocery store, a small electronics retailer or a restaurant owner - bringing millions of such people to the e-commerce marketplace and buyers will come from any consumer app. "Today, India has achieved financial inclusion in about seven-eight years with homegrown technologies like Aadhaar, UPI, QR code and more. The next step is to connect millions of small retailers to mainstream e-commerce with ONDC to create a robust digital public infrastructure," <keyword id="36748" type="General" weightage="100" keywordseo="nilekani" source="Orion">Nilekani</keyword> said during a <keyword id="6357886" type="General" weightage="80" keywordseo="phonepe" source="Orion">PhonePe</keyword> launch event. The fintech major announced the launch of a new Shopping app called "<keyword id="4310825" type="General" weightage="80" keywordseo="pincode" source="Orion">Pincode</keyword>", built on top of the ONDC platform. The app will focus on hyperlocal commerce and is now available for download on Google Play Store and <keyword id="115504" type="General" weightage="50" keywordseo="app-store" source="Orion">App Store</keyword>. Pincode is currently live only for customers in Bengaluru and will launch in other cities very soon, said the company. Nilekani said that the government is going to democratise e-commerce to take it to the masses. PhonePe said ONDC can foster the rapid growth of a new hyperlocal e-commerce business model. Apart from local buyers and sellers, such a model will also benefit other ecosystem participants like the last mile logistics and inventory management players "Pincode is built on the ONDC network, which allows us to generate demand for merchants digitized by various seller platforms in an inclusive manner while creating new opportunities for growth and driving innovation at scale," said Sameer Nigam, CEO and Founder PhonePe. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/ipl-2023-rajasthan-royals-and-royal-challengers-bangalore-emerge-as-experts-top-picks/articleshow/99243483.cms">IPL 2023: Rajasthan Royals and Royal Challengers Bangalore emerge as experts' top picks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/two-tax-regimes-rise-of-freelancers-drive-people-to-tax-experts-chartered-accountants/articleshow/99243392.cms">Two tax regimes &amp; rise of freelancers drive people to tax experts, chartered accountants</a>

ONDC to foster hyperlocal ecommerce business model in India: Nandan Nilekani

<ul><li>People are using <keyword id="5862596" type="General" weightage="20" keywordseo="ondc" source="Orion">ONDC</keyword> to order food at affordable rates.</li><li>ONDC is an open-source network that the government of India backs.</li><li>ONDC was first made available in Bengaluru.</li></ul>Zomato and Swiggy transformed the food delivery industry, enabling customers to satisfy their cravings with just a click. These two enterprises have been closely competing, frequently providing offers and discounts to their clients. Nonetheless, a fresh contender is gradually emerging in the food ordering arena, threatening the dominance of Zomato and Swiggy. The newcomer is the ONDC (Open Network for Digital Commerce), which is a government-supported platform. Currently, the ONDC service is only available in certain areas, including Bengaluru. The ONDC was launched in its beta format in September last year. Recently, the ONDC gained the attention of netizens when it was noticed that the platform offered grocery and food delivery services. <cmsannotation type="cmsannotation" annotationid="ONDC - Open Network for Digital Commerce" comment="subhead" text="ONDC - Open Network for Digital Commerce">ONDC - Open Network for Digital Commerce</cmsannotation> The Open Network for Digital Commerce is a private, non-profit organization created by the Government of India's Department for Promotion of Industry and Internal Trade. Its main objective is to develop open networks for e-commerce, which was established in April 2022. The network includes various small and large-scale e-commerce players and is designed to challenge the market dominance of large players in the market like Amazon and Flipkart in India. <cmsannotation type="cmsannotation" annotationid="How to order food on ONDC?" comment="subhead" text="How to order food on ONDC?">How to <keyword id="17366750" type="General" weightage="100" keywordseo="order-food-on-ondc" source="Orion">order food on ONDC</keyword>?</cmsannotation> ONDC does not offer its own app for food ordering. At present, customers can order food through the partner apps - Paytm and Magicpin. How to order food via Paytm? <ol><li>Open the Paytm app and click on the ‘search’ option.</li><li>Search for ONDC using the search option, and you will find an ONDC Store.</li><li>In the store, you will see a list of available dishes and restaurants.</li><li>Select the food item that you wish to order.</li><li>Add the address and make the payment.</li></ol>How to order food on Magicpin? <ol><li>Download and open the Magicpin app and select the food option.</li><li>Select the food that you wish to order.</li><li>Add the address and make the payment to confirm your order.</li></ol>SEE ALSO: <a href="https://www.businessinsider.in/tech/news/google-launches-passkeys-for-hassle-free-login-to-gmail-and-youtube-without-a-password-heres-how-to-set-them-up/articleshow/99977103.cms">Google launches Passkeys for hassle-free login to Gmail and YouTube without a password - here's how to set them up</a> <a href="https://www.businessinsider.in/tech/news/apples-safari-is-the-worlds-second-most-used-and-least-vulnerable-desktop-web-browser/articleshow/99926825.cms">Apple’s Safari is the world’s second-most-used and least vulnerable desktop web browser, yet only 1% of Indians use it</a>

How to order food on ONDC: A step-by-step guide

<keyword id="10387" type="General" weightage="100" keywordseo="microsoft" source="Orion">Microsoft</keyword> on Tuesday onboarded governments open network for digital commerce (<keyword id="5862596" type="General" weightage="20" keywordseo="ondc" source="Orion">ONDC</keyword>), with an aim to introduce social e-eommerce via its app in the Indian market. The tech giant plans to launch a <keyword id="2532086" type="General" weightage="20" keywordseo="shopping-app" source="Orion">shopping app</keyword> for the <keyword id="471072" type="General" weightage="20" keywordseo="indian-consumers" source="Orion">Indian consumers</keyword>, along with their social circle, harnessing the ONDC network to discover the best pricing among retailers and sellers. "By utilising the strength of our open network users, Microsoft, too, can implement their creative ideas like social commerce swiftly, said T Koshy, MD and CEO, ONDC. By 2030, the Indian e-commerce industry is anticipated to reach a market size of $400 billion, increasing at a 19 per cent compound annual growth rate (CAGR). "Initiatives like ONDC can be a game changer amid this boom. Their UPI-like network for digital commerce is a win-win for both buyers and sellers as it will enable them to connect without dependency on any eCommerce solution, said a Microsoft spokesperson. With ONDC, a Unified Payments Interface (<keyword id="6358921" type="General" weightage="50" keywordseo="upi" source="Orion">UPI</keyword>)-type initiative of the <keyword id="6416832" type="General" weightage="50" keywordseo="ministry-of-commerce-and-industry" source="Orion">Ministry of Commerce and Industry</keyword> to promote open networks, the government is trying to create the largest interoperable open platform in a bid to break e-commerce monopolies and build a more democratised digital marketplace by bringing micro, small, and medium enterprise as well as small traders online. Companies like Dunzo for Business (D4B), Go Frugal, <keyword id="14675799" type="General" weightage="20" keywordseo="paytm-digit" source="Orion">Paytm, Digit</keyword>, PhonePe and Loadshare has joined the ONDC network. E-commerce platform Snapdeal is set to debut on ONDC this month. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/germany-confirms-first-monkeypox-case-in-a-child/articleshow/93451733.cms">Germany confirms first monkeypox case in a child</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/coinswitch-launches-10-million-web-3-discovery-fund-to-invest-in-early-stage-indian-startups/articleshow/93452169.cms">CoinSwitch launches $10 million Web 3 Discovery Fund to invest in early-stage Indian startups</a>

Microsoft onboards ONDC to launch shopping app for Indian consumers

Reliance Retail-based <keyword id="3275685" type="General" weightage="80" keywordseo="dunzo" source="Orion">Dunzo</keyword>s B2B logistics arm, Dunzo for Business (D4B), on Thursday announced its partnership with the governments Open Network for <keyword id="1664180" type="General" weightage="50" keywordseo="digital-commerce" source="Orion">Digital Commerce</keyword> (<keyword id="5862596" type="General" weightage="20" keywordseo="ondc" source="Orion">ONDC</keyword>) to provide last-mile delivery services to local enterprises on the ONDC network. D4B has a fleet of over 75,000 delivery partners, connecting over 20,000 merchants to customers and running millions of orders every month. GrowthFalcons is one of the first businesses D4B has serviced on ONDC. "We are very happy to have a strong logistics provider like Dunzo for Business on the ONDC network. This partnership will accelerate our efforts to make last-mile logistics accessible to a wider audience of buyers and sellers across India," said T Koshy, CEO, ONDC. D4B's key merchants include Fynd, Wellness Forever, DotPe, EatClub and Magicpin, among others. "Starting our journey with key metros, we will scale our services to more cities and become the backbone for intra-city deliveries in the Indian e-commerce ecosystem", said Dalvir Suri, Co-founder, Dunzo, and Head of Dunzo for Business (D4B). Dunzo is present in the top eight cities in India and has over 10 million users. It is backed by <keyword id="58448" type="General" weightage="50" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword>, Google, Blume Ventures, Aspada Investments, LightBox Ventures, STIC Ventures and 3L Capital, among others. With ONDC, a Unified Payments Interface (UPI)-type initiative of the Ministry of Commerce and Industry to promote open networks, the government is trying to create the largest interoperable open platform in a bid to break e-commerce monopolies and build a more democratised digital marketplace by bringing micro, small, and medium enterprise as well as small traders online. Dunzo earlier this year raised $240 million to expand its footprint in India.ONDC recently boarded Go Frugal, Paytm, Digit, PhonePe and Loadshare, among others. E-commerce platform Snapdeal is set to debut on ONDC this month.

Reliance-backed Dunzo's B2B logistics arm arrives on ONDC

<keyword id="14907483" type="General" weightage="20" keywordseo="jm-financial-institutional-securities-ltd-" source="Orion">JM Financial Institutional Securities Ltd.</keyword> has released its report on Open Network for <keyword id="1664180" type="General" weightage="50" keywordseo="digital-commerce" source="Orion">Digital Commerce</keyword> (<keyword id="5862596" type="General" weightage="100" keywordseo="ondc" source="Orion">ONDC</keyword>) terming the company a population-scale initiative to democratise e-commerce, the detailed report concludes that it has the potential to create a win-win scenario for incumbents as well as new entrants. The report also terms extreme operational complexity as the roadblocks for ONDC. "With its primary focus of enabling e-commerce for small retailers and MSMEs, ONDC has the potential to enhance retail digital penetration in the country at an even faster pace than what was seen during the COVID lockdowns. The network will enable a wider customer catchment to small retailers and direct customer access to MSMEs, creating millions of million-dollar businesses," said the report. Using an open source protocol, ONDC switches the approach from closed platforms to a network that creates interoperability across all on boarded applications, says the report. "This interoperability enables unbundling, which allows all participants to play to their strengths -- a banking app with millions of consumers focuses on boarding/engaging consumers while a SaaS provider for online sellers handholds the sellers. Further, the buyers get to stick to their app of choice for accessing a broad selection while sellers do not need to spend time and capital in working with multiple platforms in silos. Overall, this can drive capital efficiency for the players, helping them achieve profitability," said the report. As per the report, the roadblocks to success of ONDC include solving the chicken and egg situation between supplier and buyer on boarding, customer complaints redressal (as a fragmented process also creates gaps for the process to fall through), competition issues in case the large incumbents or massive brands are on boarded as well as those related to data privacy and ownership. "Looking at <keyword id="6358921" type="General" weightage="50" keywordseo="upi" source="Orion">UPI</keyword> evolution, ONDC might also need to decide on its positioning as a non-regulatory authority or becoming a rule-setting body in order to ensure that the network remains fairly attuned for the small retailer to not get marginalised," said the report. Open Network for Digital Commerce (ONDC) has been incubated with the primary purpose of supporting grassroots-level entrepreneurship and digitising small, local retailers by making them a participant in India's e-commerce revolution. ONDC is pursuing an open protocol approach that drives interoperability between all onboarded platforms and, hence, lowering the entry barrier for a retailer to sell online. This allows a consumer on any app of his/her choice to buy from any seller across the network even if the seller might not be onboarded on the app that the customer is using. "We appreciate this move by the Indian government to take the digital revolution across the nook and corner of the country and believe that this could be a massive driver in taking India's digital penetration in retail from the current 5-7 per cent to almost 20 per cent in the next 5 years (current IBEF estimate is of 19 per cent by 2030)," said the report. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ril-acquires-california-based-solar-software-developer-sensehawk-for-32-million/articleshow/94016174.cms">RIL acquires California-based solar software developer SenseHawk for $32 million</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-has-held-its-own-despite-sharp-depreciation-in-other-currencies-rbi-governor/articleshow/94015738.cms">Rupee has held its own despite sharp depreciation in other currencies: RBI Governor</a>

ONDC is a population-scale initiative to democratize e-commerce: JM Financial

<ul><li>A rapidly evolving technology landscape and consumer trends will shape how businesses perform, going forward.</li><li>A report by Wavemaker titled Spotlight23 has underlined the major trends that businesses will have to adapt to this year.</li><li>Some of the most prominent emerging technologies and consumer trends to watch out for in 2023 include artificial intelligence as a service (<keyword id="6355999" type="General" weightage="20" keywordseo="AI" source="Orion">AI</keyword>aaS), generative AI like ChatGPT and increasing use of Reels.</li></ul>A rapidly evolving technology landscape and quickly changing consumer trends require businesses to evolve with them at the same pace or risk falling behind. From the way customers interact with businesses to how businesses attract customers with new innovations, several emerging trends like artificial intelligence as a service (AIaaS), and increased focus on privacy and free speech have been identified in Wavemaker’s report titled Spotlight23. While ecommerce has existed for a long time, the Covid-19 pandemic changed how Indians look at it. According to a<a href="https://economictimes.indiatimes.com/small-biz/sme-sector/covid-pandemic-hot-housed-e-commerce-growth-across-amea-region-survey/articleshow/94643528.cms"> survey</a>, 83% of Indian consumers have increased their purchases from ecommerce platforms in the last three years, and this momentum is expected to gain pace. But that is just one aspect of the evolving technology and consumer landscape. Here are other hot and emerging trends of 2023, according to the Spotlight23 report. <cmsannotation type="cmsannotation" annotationid="Generative AI to grow 10x in the next three years" comment="subhead" text="Generative AI to grow 10x in the next three years">Generative AI to grow 10x in the next three years</cmsannotation> Generative artificial intelligence (AI) solutions, like ChatGPT and Dall-E are expected to see a massive uptake in the next three years, growing from 1% of the data generated to 10% by 2025. Generative AIs like Dall-E, ChatGPT generate images and text using the inputs provided by users. For instance, ChatGPT can write articles, code or even compose music based on the inputs provided by users. OpenAI, which launched both Dall-E and ChatGPT, said that the latter was used by over 1 million users within the first 24 hours of its launch. <cmsannotation type="cmsannotation" annotationid="AI as a Service (AIaaS)" comment="subhead" text="AI as a Service (AIaaS)"><keyword id="16177246" type="General" weightage="20" keywordseo="AI-as-a-Service" source="Orion">AI as a Service</keyword> (AIaaS)</cmsannotation> The gaining traction of low-code/no-code artificial intelligence (AI) tools has given businesses an opportunity to implement off-the-shelf AI tools in their services, instead of developing an in-house AI. This brings down the costs and also allows businesses to see what works and what doesn’t. Some of the use cases of AI as a Service include optimizing campaigns, predicting customer churn and engaging customers based on their usage patterns as predicted by the AI model. <cmsannotation type="cmsannotation" annotationid="Privacy and free speech to continue to gain prominence" comment="subhead" text="Privacy and free speech to continue to gain prominence">Privacy and free speech to continue to gain prominence</cmsannotation> Users are increasingly worried about their privacy, with 66% of internet users globally worried that their identity will be stolen, according to<a href="https://www.statista.com/statistics/296700/personal-data-security-perception-online/"> Statista</a>. Further enactment of privacy-focused laws like General Data Protection Regulation (GDPR) has put the spotlight on data privacy. The Spotlight23 report states that businesses will invest in privacy-centric technologies as customers become increasingly sensitive about their data. Another aspect that has gained prominence is free speech, as evidenced by the Twitter takeover by Elon Musk, and the rise of decentralized social media platforms like Mastodon, which has seen an 800% increase in users since October 2022, with the user base now standing at 2.5 million. However, the report adds that advertisers will likely stay away from Twitter until a balance between free speech and brand safety is found. <cmsannotation type="cmsannotation" annotationid="Reel it – engagement and social commerce is evolving rapidly" comment="subhead" text="Reel it – engagement and social commerce is evolving rapidly">Reel it – engagement and social commerce is evolving rapidly</cmsannotation> Instagram Reels’ rise in popularity can be explained with this metric alone – in Q3 2022, Meta reported over 140 billion reels were played, which means over 1.55 billion reel plays every day during the quarter, or 1.08 million reels played every minute. This makes it critical for brands to create Reels to drive user engagement, according to the report. The opening up of WhatsApp Business API to everyone provides business with another opportunity to generate new leads. Many of those examples are already live – for instance, JioMart’s catalogue can be browsed through WhatsApp, allowing them to place orders and make payments. Reliance’s media arm Viacom18, which bagged IPL streaming rights, could help Jio accelerate social commerce via partnerships with brands, leveraging its user base of over 450 million. <cmsannotation type="cmsannotation" annotationid="Social commerce growth to result in increased influencer collaborations" comment="subhead" text="Social commerce growth to result in increased influencer collaborations">Social commerce growth to result in increased influencer collaborations</cmsannotation> Gaining prominence of social commerce is expected to result in an increase in brands collaborating with social influencers. According to Statista, sales through social media stood at $992 billion in 2022, and they are expected to increase to $2.9 trillion by 2026. “Influencer collaboration can boost a company's revenue. For instance, Petco worked with Gabby Douglas and used livestream shopping events to reach and engage customers,” the Spotlight23 report said. Conversational AI is also expected to further drive user engagement, with several brands like H&amp;M, Levi’s and others already using chatbots to give personalized recommendations to buyers. <cmsannotation type="cmsannotation" annotationid="VR, AR and XR to deliver a more immersive shopping experience" comment="subhead" text="VR, AR and XR to deliver a more immersive shopping experience"><keyword id="6380951" type="General" weightage="20" keywordseo="VR" source="Orion">VR</keyword>, <keyword id="11853" type="General" weightage="20" keywordseo="AR" source="Orion">AR</keyword> and <keyword id="1786062" type="General" weightage="20" keywordseo="XR" source="Orion">XR</keyword> to deliver a more immersive shopping experience</cmsannotation> Technologies like virtual reality (VR), augmented reality (AR) and extended reality (XR) are expected to enhance the shopping experience of users and make it more immersive. These technologies allow users to try on products virtually to see if they suit them or not – for instance, Lenskart has a 3D try-on feature that lets users check out eyeglasses and sunglasses virtually before buying them. Asian Paints’ app allows users to take a photo of their wall and picture how it looks with the diverse range of colours and textures offered by the company. <cmsannotation type="cmsannotation" annotationid="ONDC could realize its potential in 2023" comment="subhead" text="ONDC could realize its potential in 2023">ONDC could realize its potential in 2023</cmsannotation> During a<a href="https://www.businessinsider.in/retail/news/democratising-commerce-ondc-could-be-the-upi-moment-for-small-retailers-msmes/articleshow/95393032.cms"> panel discussion</a> in November 2022, Thampy Koshy, the Chief Executive Officer of ONDC, said that Open Network for Digital Commerce (ONDC) is the Indian government’s attempt to democratise commerce. ONDC is an open platform that allows sellers to make their catalogues visible to every buyer on the platform. Koshy likened ONDC to UPI, saying “what UPI did was to essentially streamline and democratise the payment side of it. What ONDC is trying to do is a similar kind of transformation on the transaction side of goods and services.” ONDC is currently live in 83 cities, and it has 25 network participants along with over 700 merchants onboard. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budget-2023-morgan-stanley-sees-focus-to-be-on-fiscal-consolidation-investment-led-growth/articleshow/97082715.cms">Budget 2023: Morgan Stanley sees focus to be on fiscal consolidation, investment-led growth</a> <a href="https://www.businessinsider.in/business/corporates/news/competitive-intensity-a-big-risk-for-dmart-say-analysts-after-company-misses-streets-q3-forecast/articleshow/97052145.cms">Competitive intensity a big risk for DMart say analysts after company misses Street’s Q3 forecast</a> <a href="https://www.businessinsider.in/business/corporates/news/hiring-by-it-cos-down-96-in-q3-compared-to-preceding-7-quarters-even-as-attrition-cools/articleshow/97023873.cms">Hiring by IT cos down 96% in Q3 compared to preceding 7 quarters even as attrition cools</a>

AI as a Service to free speech platforms and social commerce, these are the big emerging trends of 2023

Issues related to data privacy and rising <keyword id="20127272" type="General" weightage="20" keywordseo="online-frauds" source="keywords">online frauds</keyword> are emerging as significant hurdles in the growth of e-commerce in India, said the <keyword id="20613906" type="General" weightage="20" keywordseo="Economic-Survey" source="keywords" meta.keywordsubtype="org" meta.entityname="Economic Survey" meta.hostid="261" meta.entityid="Economic Survey">Economic Survey</keyword> 2023-24 tabled in Parliament on Monday. Citing third-party data, the survey said that the e-commerce industry in India is expected to cross USD 350 billion by 2030 and called for the need to educate users on the safe use of e-commerce platforms. "The rise of e-commerce is constrained by inadequate skills required for online selling, such as cataloguing. <keyword id="22505774" type="General" weightage="20" keywordseo="data-privacy-issues" source="keywords">Data privacy issues</keyword> and increasing online fraud have turned out to be the most significant hurdle in the growth of e-commerce in India. It becomes imperative to educate users on the safe use of e-commerce platforms," the survey said. The survey mentioned that India's e-commerce market has gained significant momentum during the past few years, owing to technological advancements, evolving new-age business models coupled with government initiatives like the Digital India program, UPI, One District - One Product (ODOP), Open Network for Digital Commerce (ONDC), new foreign trade policy, easing of FDI limits and Consumer Protection (E-Commerce) (Amendment) Rules 2021. It has identified data privacy and <keyword id="19906883" type="General" weightage="20" keywordseo="cybersecurity" source="keywords">cybersecurity</keyword> as critical concerns in the <keyword id="22505776" type="General" weightage="20" keywordseo="digitisation-of-services" source="keywords">digitisation of services</keyword> in the country and called for adopting strong security measures, compliance with privacy regulations, and innovation, among others. "Data privacy and cybersecurity have become critical concerns with the increasing digitisation of services," according to the survey. It said that the government is spearheading data protection laws and cybersecurity policies to safeguard consumer data and strengthen cybersecurity measures in the services sector. "To further embrace technology with confidence, ensuring the adoption of strong security measures, compliance with privacy regulations, and fostering innovation in security technologies are essential," the survey noted. It said the future of e-commerce is built on the enhanced <keyword id="20290101" type="General" weightage="20" keywordseo="user-experience" source="keywords">user experience</keyword> through <keyword id="19899640" type="General" weightage="20" keywordseo="AI" source="keywords">AI</keyword>, seamless <keyword id="21332958" type="General" weightage="20" keywordseo="digital-payment-methods" source="keywords">digital payment methods</keyword>, innovations like UPI, and business engineering data analytics for business operations and enhancements. The survey mentioned that the buyer ecosystem in India is evolving at a very sharp rate, and business models will need to innovate to serve the needs of a diverse shopper base regarding service expectations, price sensitivity and language requirements. "Local language platforms are needed as the shopper base expands to tier-2 and tier-3 cities. Growing startups and innovative social media platforms provide an opportunity to test unique business models that might be targeted to specific demographic cohorts," the survey said.

Data privacy issues, online frauds emerging as e-commerce growth hurdles: Eco Survey

Decacorn fintech firm <keyword id="6357886" type="General" weightage="100" keywordseo="phonepe" source="Orion">PhonePe</keyword> has received an additional USD 100 million from <keyword id="6375561" type="General" weightage="80" keywordseo="general-atlantic" source="Orion">General Atlantic</keyword> during its ongoing fundraise round of USD 1 billion at a pre-money valuation of USD 12 billion, the company said on Wednesday. With this fresh funding, the <keyword id="80487" type="General" weightage="50" keywordseo="walmart" source="Orion">Walmart</keyword> group firm has raised USD 750 million till date. "PhonePe confirms a USD 100 million additional tranche of investment from General <keyword id="44121" type="General" weightage="80" keywordseo="atlantic" source="Orion">Atlantic</keyword>, a leading global growth equity firm, and its co-investors as part of our ongoing fundraise. General Atlantic initially invested USD 350 million in PhonePe in January 2023," PhonePe said in a statement. General Atlantic has invested USD 450 million in the ongoing fundraise, Ribbit Capital, <keyword id="526777" type="General" weightage="50" keywordseo="tiger-global" source="Orion">Tiger Global</keyword> and TVS Capital Funds USD 100 million and Walmart has infused USD 200 million in the company. PhonePe plans to deploy these funds to build and scale new businesses like insurance, wealth management, lending, stockbroking, ONDC-based shopping and account aggregators. The fundraise will also help PhonePe turbo-charge the next wave of growth for UPI payments in India, including UPI lite and Credit on UPI. Recently the company also announced its foray into hyperlocal e-commerce through new platform Pincode. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/markets-extend-rally-to-the-eight-consecutive-day-led-by-it-healthcare-and-auto-stocks/articleshow/99434724.cms">Markets extend rally to the eight consecutive day, led by IT, healthcare and auto stocks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/how-omicron-sub-variants-escape-our-bodys-immune-system/articleshow/99433429.cms">How Omicron sub-variants escape our body's immune system</a>

You Searched For "ondc platform" and got 8 results

ONDC to foster hyperlocal ecommerce business model in India: Nandan Nilekani

IANS

How to order food on ONDC: A step-by-step guide

Rahul Verma

Microsoft onboards ONDC to launch shopping app for Indian consumers

IANS

Reliance-backed Dunzo's B2B logistics arm arrives on ONDC

IANS

ONDC is a population-scale initiative to democratize e-commerce: JM Financial

IANS

AI as a Service to free speech platforms and social commerce, these are the big emerging trends of 2023

Rounak Jain

Data privacy issues, online frauds emerging as e-commerce growth hurdles: Eco Survey

PTI

PhonePe gets additional USD 100 million fund from General Atlantic

PTI

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