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ONDC enables Network Gift Card for corporate gifting, ET Retail

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Government-backed Open Network for Digital Commerce (ONDC) has enabled a network-level gift card – “ONDC Network Gift Card” – that companies can use for corporate gifting and employee engagement ahead of the upcoming festive season.

Gift cards can be loaded for a maximum amount of Rs 10,000 and are powered by the Rupay Network.

Currently, sponsoring organisations can reach out to YES Bank and Omni Card to issue these gift cards, while many other banks and fintech companies are also in the process of enabling ONDC-enabled gift cards.

ONDC chief executive Thampy Koshy explained that unlike usual gift cards, which are limited to a brand or platform, ONDC’s gift cards give consumers the choice to purchase from any brand or product.

The network will be reaching out to corporate companies to encourage them to use the gift cards.

Through these cards, consumers can use any ONDC buyer app to buy from thousands of sellers on the network. Kanchipuram silk sarees, a curated collection of Blue Pottery, Tanjore Paintings, Brassware, Filter Coffee from Kalimpong, are some examples.

At the same time, leading Indian fashion and electronic brands are also available on the network.

Since its launch, ONDC has accrued 1.2 crore orders with one crore orders coming from mobility category and the remaining from other retail categories. The network gets orders from close to 180 cities in India.

While food accounts for 65%-70% of the retail orders, the rest are from the groceries, fashion, electronics and kitchen categories.

On the business-to-business (B2B) front, the network sees an average of 1,500 orders per day with one B2B transaction abroad. In May this year, SignCatch and Rapidor executed their first B2B transaction on ONDC.

SignCatch licences its Platform-as-a-Service (PaaS) solutions to brands, distributors, retailers. Rapidor is a platform enabling B2B trade and transactions in closed loop networks.

Last week, ONDC forayed into international B2B exports with Proxtera coming in as its first international buyer app.

Proxtera is an innovative meta-hub that will connect B2B platforms and SMEs to explore trade opportunities, and secure essential financing.

On Wednesday, NoBrokerHood, the visitor, society and payment management app by NoBroker, went live on ONDC to enable daily shopping for residents.

ONDC had also entered into financial services with credit and insurance products. It had sought feedback from participants such as banks, NBFCs, buyer and seller apps for the design of the protocol for purchases of financial products like gift cards, personal loans and invoice-based credit on the network.

  • Published On Sep 22, 2023 at 12:30 PM IST

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