img

Open Network For Digital Commerce (ONDC) is looking to integrate banks and fintech platforms, days after the network began early pilots for credit disbursal through its platform, by partnering with Tata Group superapp Tata Neu and Paisabazaar

The banks include HDFC Bank, IDFC First Bank and Karnataka Bank, alongside fintech firms like Fibe and others.

Talking to Inc42, Shireesh Joshi, chief business officer at ONDC, said, "In financial services, we first map out the sequence of steps, then we digitise those steps, then we bring in players who will perform those steps, and that is what we have completed."

Also, talking about the regulatory challenges pertaining to these integrations, Joshi said that the network has completed the regulatory checks and have also run test transactions as well.

--Advertisement--

ONDC Open Network for Digital Commerce last mile credits bank integration fintech integration digital commerce e-commerce innovation Payment Solutions Financial Inclusion credit access online transactions banking services fintech solutions Digital Payments Financial Technology commerce innovation ONDC initiative last mile credit facility financial services integration.