ONDC or the Open Network for Digital Commerce will soon levy a fee of Rs 1.20 for every successful transaction above Rs 250. Transactions valued below Rs 250 will not attract a fee. The network participants (NP) have been informed of the levy, sources close to the development said. The revenue will help ONDC fund some of its incentives.
The number of transactions on the protocol has risen to 14.5 million in November of which 6.6 million relate to mobility. Riding on the festive season, ONDC had logged 14 million transactions in October, an increase of 7.6% over September’s 12.9 million.
The number of daily transactions now averages close to half a million. The daily run rate for food and grocery transactions is close to 90,000 while for the beauty and personal care segment, it is approximately 10,000. The fashion segment is clocking 40,000 transactions a day while the home and kitchen section is reporting 20-30,000 transactions a day. The share of mobility transactions has come down sharply; in April 2024, of the 6.7 million total transactions, 3.6 million related to mobility.
The number of seller apps on ONDC has crossed 160 and these include PayTM, MaginPin, PinCode, Snapdeal and the retail chain More. Currently, there are more than 70 buying apps that are live on the protocol and more than 40 are transacting regularly. These include Nammayatri and Yatri satri and Delhi Transport Corporation.
Gaming company Nazara is currently testing a buyer app, to be launched in about two weeks, that will enable food delivery. Financial services have been launched on the ONDC with a couple of mutual funds transacting. Approximately, 700-800 retail investors have subscribed to MF units. Applications have also been made for one lakh loans.
Approximately seven lakh merchants and service providers are selling on ONDC including brands such as Titan, Puma, Fastrack, Ferns &Petals, HUL, ITC, Croma, and Prestige.
