Paytm Mall to shift retail focus to ONDC
Paytm E-commerce Private Limited will reorientate the focus of its e-commerce store Paytm Mall to Open Network for Digital Commerce and it will pursue export opportunities.
Moving on from focusing on traditional physical goods e-commerce, Paytm Mall will embrace ONDC with the aim of making its business model sustainable for the longterm, the business announced on May 15. The move will enable it to promote transparency and digital independence for the Indian small business sector, ET Bureau reported.
“We are set to build on the revolutionary ONDC program by the Government of India to drive online commerce in India,” said a spokesperson for Paytm Mall, the Press Trust of India reported. “We also plan to explore opportunities in the export market. We are grateful for the support of our investors and look forward to driving sustainable growth.”
The business believes that harnessing ONDC will enable it to democratise the buying and selling of goods in the Indian market and help small businesses to level up their operations. Paytm E-commerce Private Limited’s new business direction for Paytm Mall will see its early investors Alibaba and Ant Group exit the business but it is confident of the support of its existing shareholders.
Paytm E-commerce Private Limited is not part of the One97 Communications group. However, the business uses the Paytm brand and receives services from One97 Communications Limited, which is a publicly listed business.
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