Paytm founder Vijay Shekhar Sharma says Paytm Mall’s business will now be built on the Open Network for Digital Commerce (ONDC), which will have a greater impact on small businesses.
“With our focus on creating an open platform for e-commerce, our @PaytmMall business is now built on @ONDC_Official. It will be affordable, scalable and have a bigger impact on small businesses, “he said.
Sharma quotes a report from ONDC on the pivot of Paytm Mall and how it will explore export business opportunities instead of the traditional physical product e-commerce.
The move will enable the company to build a long-term sustainable business in partnership with ONDC that seeks to democratize the buying and selling of goods in the Indian market. Paytm E-commerce Private Limited (PEPL), the parent entity of Paytm Mall, has indirect shares of One97 Communications.
A spokesperson for Paytm Mall said, “We are ready to create a revolutionary ONDC program for the Government of India to conduct online commerce in India. We are planning to explore opportunities in the export market. We are grateful for the support of our investors and look forward to sustainable growth. ”
As part of the business shift, PEPL sees the departure of early investors Alibaba and Ant Group.
Read more: ONDC may further integrate e-commerce, accessible to customers: Government