Paytm Mall Declares pivot to ONDC as its primary objective is to discover export prospects
- ByStartupStory | May 16, 2022
Paytm E-commerce Private Limited (PEPL), the holding company of Paytm Mall, has declared that it would shift its focus to the Open Network for Digital Commerce (ONDC), with an emphasis on exports, rather than traditional physical products e-commerce.
This move allows the company to build a brief sustainable business with ONDC, which strives to democratize the buying and selling of commodities in the Indian market by enhancing transparency and virtual independence for small enterprises.
One 97 Communications Limited (OCL), a publicly-traded company, has no direct or indirect ownership in Paytm Mall’s parent company (PEPL). Although PEPL utilizes the Paytm name and processing stage from OCL, it is not a member of the OCL group.
“We are prepared to build on the pioneering ONDC project by the Indian government to encourage online commerce in India,” a Paytm Mall official stated. We also intend to investigate the export potential. We appreciate our investors’ support and look forward to achieving long-term success.
PEPL also sees new investors Ant Group and Alibaba leaving as part of the company’s shift in business orientation. With the continued backing of other current shareholders, Paytm Mall is optimistic about its strategy and roadmap.
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