Features of ONDC

The features or characteristics of Open Network for Digital Commerce are mentioned below:

• Modeled after UPI: It is built on the widely lauded Unified Payments Interface (UPI) project. The UPI initiative enables anyone to send or receive money, regardless of the payment systems on which they are enrolled. The ONDC will ensure that sellers and buyers conduct business online regardless of the platforms on which they are registered. Consequently, a customer with an Amazon account can buy something directly from a vendor who operates a Flipkart store.
• Democratizes Online Trading: It is a first-of-its-kind global effort to democratize digital commerce by moving it from a platform-centric paradigm to an open network. Through an open network, buyers and sellers will be able to conduct business and be found online. whichever software or platform they use. It would empower businesses across all industries, from retail products, food, and mobility, by eradicating silos and establishing a single network to foster innovation and scalability.
• A workable solution: Over time, ONDC should become a self-sufficient business that generates income for its operations and surplus for continuous investments in technology, procedures, and network expansion. This is a very viable solution given the significant benefits it will offer ecosystem players.
• Confidentiality: All required measures must be taken to safeguard networked data’s privacy and confidentiality. Participants are not obligated to provide ONDC with any transaction-level data.

ONDC: The Open Network for Digital Commerce (ONDC) is a government-backed program designed to provide small businesses and local retailers in the area with access to the same tools and systems that major e-commerce platforms often use. The project’s goal is to promote open networks for any kind of cross-digital or electronic network exchange of products and services. ONDC, which will operate independently of any specific platform, utilizes open specifications and open network protocols. The platform helps small and medium-sized businesses and dealers get on internet platforms in an effort to create new opportunities and lessen digital monopolies.

This Article provides every important detail about ONDC (Open Network for Digital Commerce) including its definition, features, top 5 ONDC Sellers, and buyers, how to use ONDC, the importance of ONDC, and challenges faced by ONDC.