Business Standard

India's next UPI moment can be Open Network Digital Commerce: Piyush Goyal

ONDC will help the common man get access-new age technology at affordable costs

Commerce and Industry Minister Piyush Goyal
Premium

Commerce and Industry Minister Piyush Goyal

Shreya Nandi New Delhi
The next Unified Payments Interface (UPI) moment in India can be the Open Network for Digital Commerce ONDC, which will help the common man access new-age technology at affordable costs, commerce and industry minister Piyush Goyal said on Friday.

ONDC will also give startups the opportunity to grow in India.

ONDC goes beyond the current platform-centric models where a buyer and seller will have to use the same application. It aims to reduce the cost of doing business, benefit small, traditional retailers, while curbing digital monopolies.

“It will be the first of its kind to be developed to enable interoperability

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in