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ONDC partners with Proxtera as first international buyer app for overseas B2B exports, ET Retail


The Open Network for Digital Commerce (ONDC) has roped in Singapore-based platform Proxtera as its first international buyer app as part of its foray into international business-to-business (B2B) exports.

Further, Delhi-based SignCatch and Cochin-based Rapidor, with and respectively, will be among the first to join ONDC as international B2B seller network participants, ONDC said in a statement.

“Proxtera as a B2B buying application would now help their customers in South East Asia to source goods from India. They believe that this web of participation by diverse merchants coming online on the ONDC network will help them get new and competitive sources,” T Koshy, MD and CEO of ONDC, told ET.

Proxtera is a meta-hub that connects B2B platforms and SMEs for trade and financing. It is part of the Business sans Borders (BsB) initiative of the Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA).

“For the sellers it is an opportunity to make themselves visible to an international audience,” Koshy added, highlighting that ONDC enables greater participation of MSMEs.

Document exchanges, deal negotiation, cross-border payments and shipment management will be facilitated digitally, the ONDC statement said. Fintech company Liquid Group, which is part of Proxtera’s financial services network, will facilitate the cross-border digital payments for B2B buyers in Singapore.

ONDC began talks with Proxtera more than a month back, Koshy said, after the buyer app was suggested to it following India-Singapore talks. “This is just a start,” he said. “Now that we have demonstrated this possibility we believe that more and more such international buyer apps would be encouraged to join after seeing cross-border trade done as a result of this collaboration.”

Proxtera CEO Saurav Bhattacharyya said, “As the first international B2B buyer app on ONDC, Proxtera is proud to enable new opportunities for SMEs to engage in cross-border trade. This collaboration is a pioneering step towards democratizing access to international trade for SMEs in India, Singapore and across the globe.”

The ONDC-Proxtera collaboration was showcased in Mumbai today, during the 4th G20 Global Partnership for Financial Inclusion (GPFI) as part of the Global SME Finance Forum.

ONDC is a digital network that aims to democratise ecommerce by connecting buyers and sellers across platforms. It is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.

  • Published On Sep 15, 2023 at 08:27 AM IST

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