Mumbai: In a drive to democratise India’s rapidly developing digital commerce sector, which is expected to exceed $350 billion by 2030, In-Solutions Global (ISG), in collaboration with JP Morgan Payments, unveiled the “ONDC Made Easy” solution at the GFF 2024.
This program intends to empower businesses by giving them direct access to the Open Network for Digital Commerce (ONDC), where they can present their items to an extensive network of potential purchasers.
The ONDC network, an open effort funded by the Indian government, is quickly becoming the backbone of the country’s digital economy. With over 35,000 sellers and over 3.8 million SKUs available in 236 locations, the network handled over 12 million business transactions in July 2024 alone.
“India’s e-commerce industry is on a trajectory to surpass $350 billion by 2030. Supporting our clients’ digital journey in this high-growth environment is a priority for us,” said Guhaprasath Rajagopal, Managing Director & Head of India Payments, JP Morgan.
“Every participant who joins ONDC brings unique value, expanding choices for buyers and sellers alike. JP Morgan’s partnership with ISG to facilitate the participation of their corporate clients in ONDC is a testament to the diverse and dynamic nature of the ONDC ecosystem. We are excited to see the positive impact this will have on the digital commerce landscape,” said T Koshy, Managing Director & CEO, ONDC.
ISG and JP Morgan have previously collaborated to expand digital payments in the Asia Pacific region. “Our collaboration with JP Morgan in the Asia Pacific region has already demonstrated our capability to deliver secure and efficient payment solutions,” said Adelia Castelino, Co-founder & Managing Director at ISG.
“We are thrilled to extend this partnership to the ONDC network, further enhancing the digital commerce experience for buyers and sellers alike.”
With a predicted yearly e-commerce growth rate of more than 21%, this strategic alliance intends to simplify digital commerce for businesses by providing a “one-stop shop” solution based on ISG’s ONDC tech stack.
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–IANS
