Page 4 - E-commerce Marketplace

Need to broaden participation to expand digital commerce in India: ONDC

The country needs wider participation of buyers and sellers to expand digital commerce in the next few years, Open Network for Digital Commerce (ONDC) CEO T Koshy said on Tuesday. "If you look at today's digital commerce in the country, it is limited to 10 per cent and just 2-3 per cent on the buyer side, so we need to broaden and expand the participation so that the current levels can go up to 25-30 per cent in the next few years. "We are working in each of the segments to understand the challenges and building mechanisms to address them and to enable broad-based participation," Koshy said while speaking at the 3-day 'Global Fintech Fest 2023' that began on Tuesday. Digital commerce is just starting in the country. There are huge challenges ahead, and soon, there will be domains that will enable international transactions for people to buy from the India network, he added. "The key thing is while we are doing all this technology enabling, we have to understand that there is a need

Protean, PayNearby partner for providing credit services on ONDC network

Protean eGov Technologies and fintech platform PayNearby have collaborated for providing credit services on the ONDC network for last-mile borrowers and MSMEs. Once launched, the marketplace will also allow for easy discovery of various lending products at affordable pricing, according to a statement. "In this partnership, Protean will serve as an ONDC technology service provider that facilitates availability of credit for last-mile borrowers across the country through PayNearby's well entrenched Distribution as a Service (DaaS) network," it said. Speaking to PTI, Protean eGov Managing Director and CEO Suresh Sethi said there are several people who are not digitally enabled to even get into the account aggregator framework and get credit against their data, or consent for it to be used. "We are looking at this as a sort of intervention which can leverage the physical network provided by PayNearby and the last mile agent can then provide an assisted service and onboarding people to

Kareena Kapoor Khan acquires minority stake in e-commerce brand Pluckk

Actress will be brand ambassador of lifestyle-oriented fresh fruit and vegetables brand

Meesho becomes first horizontal e-commerce company to attain profitability

The SoftBank-backed firm saw over 1 billion orders in last 12 months; its order volumes rose by 43% and revenue by 54%

Meesho says it removed 42 lakh counterfeit products from its platform

Under this project, Meesho has implemented stringent verification processes, engaged in brand partnerships, and leveraged analytical models for fraud detection

Tata Industries reports Rs 2,043 crore loss on Tata Unistore sale

Tata Cliq portal was sold to Tata Digital in December last year

Questions about ONDC

The scope for disrupting Big Commerce is untested

Pincode clocks 5,000 daily orders on ONDC within month of launch

E-commerce app of fintech platform PhonePe says after Bengaluru it will be in more cities

Beauty e-retailer Nykaa sees healthy revenue growth trend for FY23

Growth from tier 1 consumer have demonstrated sustained consumption

PhonePe launches shopping app for ONDC, marking e-commerce entry

Pincode will connect consumers to small merchants and neighbourhood stores, says fintech firm

Digital transformation key driver of every industry, says Nykaa CEO

: Averring that digital transformation was the key driver of almost every industry, Nykaa Founder and CEO Falguni Nayar on Friday said businesses and individuals must adapt to the ever-evolving' scenario. Addressing the students at Indian School of Business (ISB) here, she said: Digital transformation is today the key driver of nearly every industry, from commerce to finance to healthcare, you name it, and businesses and individuals must adapt to this ever-evolving new world. Reimagining how business operates from the ground up, leveraging technology to create value for customers, and driving constant innovation is critical. Approach the power of technology with a growth mindset. Embrace experimentation and iteration, and don't be afraid to fail, Nayar told the students, according to a release from the ISB. ISB Board Chairperson Harish Manwani said : In this new paradigm, your focus should not only be on creating economic value but also on solving the challenges and needs of the ...

Snapdeal starts taking orders on ONDC, sees demand for smaller cities

Company says it's only e-commerce platform to fintegrate its buyer and seller platforms on platform

New platforms less compliant on mandatory display of details online: survey

Findings of the LocalCircles study escalated to Dept of Legal Metrology for further review and corrective action

Amazon Great Republic Day Sale: Deals on OnePlus, Xiaomi, Samsung phones

The Amazon Great Republic Day Sale started on January 15 and it will be live until January 20. Below are some of the deals available on the e-commerce platform

NCP leader flags availability of dangerous chemicals on e-commerce websites

NCP member Fauzia Khan on Tuesday voiced concern over sale of dangerous chemicals on popular e-commerce platforms, while referring to the recent acid attack on a teenage girl in the national capital. On Decemer 14, a 17-year-old girl was attacked with acid in west Delhi while on way to her school resulting in serious injuries. Three men, including her neighbour, have been arrested in the case. Raising the issue of acid attacks during the Zero Hour in Rajya Sabha, Khan said majority of the reported cases of acid attacks are against young women and most of them who turn down a proposal for marriage, or refuse to enter into a relationship or withdraw from a relationship. "Despite the existence of laws the crime of acid attacks continued unabated. The reason is that acids can be procured easily as there is laxness on part of implementation of regulations. It is the implementation that is important. There is high prevalence of illegal sale of acid," she said. She further said the accuse

Amazon to bring TikTok-like feed of shoppable content 'Inspire' to its app

The new feed option will appear as a lightbulb icon in the application and will roll out to select US users this month

Snapdeal to shelve its $152 million IPO amid tech stock market retreat

Snapdeal filed its initial public offering (IPO) regulatory papers for approval in December 2021, a year that saw many stock market debuts and record fund raising by Indian startups

GeM public procurement crosses Rs 1 trillion in just eight months

Cumulatively, GeM has surpassed GMV worth Rs 3 trillion since inception and the number of transactions on GeM exceeded 12 million

Flipkart India FY22 revenue at Rs 51,176 cr, loss widens 39% to Rs 3,404 cr

The B2B arm of Walmart-owned e-commerce firm Flipkart reported expenses of Rs 54,580 crore, up about 19% over the previous year

Amazon to delist Appario as seller, renews Frontizo JV for 3 years

The development comes at a time when Cloudtail, once the largest seller on Amazon's India marketplace, shut operations on the e-commerce platform as a seller this year amid regulatory pressure