Paytm to Bring 10 Million Merchants on ONDC by 2025

One97 Communications, the parent company of digital payment brand Paytm, has announced plans to bring 10 million merchants onto the government-backed Open Network for Digital Commerce (ONDC) platform by 2025. The announcement was made by Paytm founder and CEO Vijay Shekhar Sharma, who spoke on the sidelines of an ONDC event in New Delhi.

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Paytm's Mission to Support Small Merchants

Sharma emphasized that Paytm's ecosystem is built around small merchants, and the company's mission is to help them become part of the mainstream economy. He said that Paytm has already seen close to 11.8 million customers routed to its products from the ONDC platform, and the company plans to bring 10 million merchants on board before the end of 2025.

ONDC: A Level Playing Field for All E-commerce Stakeholders

ONDC is a government-backed platform that is open to all e-commerce stakeholders, allowing them to onboard their services and utilize the services of firms like Paytm, PhonePe's Pincode, and hyperlocal e-commerce firm magicpin. Sharma believes that ONDC has the potential to bring a large number of merchants online, as there are already more than 10 million customers on the platform, which is one-fifth of the total e-commerce market in India.

ONDC's Rapid Growth and Potential

T Koshy, the managing director and CEO of ONDC, said that the platform has seen rapid growth since its launch, with the number of transactions increasing from 1,200 in January to almost 5 million in the current month. Transactions are happening from 600 cities already, indicating that people are eager to shop online once they have access to national-level apps. Koshy believes that ONDC is poised for explosive growth in the next 1-2 years, and the platform aims to increase the number of transactions by tenfold within a year.

One97 Communications' plan to bring 10 million merchants on ONDC by 2025 is a significant step towards supporting small businesses and expanding the reach of e-commerce in India. With ONDC's open and inclusive platform, small merchants will have the opportunity to access a wider customer base and grow their businesses. As ONDC continues to grow and evolve, it has the potential to revolutionize the e-commerce landscape in India and create a level playing field for all stakeholders.