Pai Platforms, Backed by Paytm Founder Vijay Shekhar Sharma, Launches Shopping App on ONDC
Pai Platforms, a venture backed by Paytm founder Vijay Shekhar Sharma, has unveiled a new shopping app on the Open Network for Digital Commerce (ONDC). This development marks a significant move in the digital commerce landscape, showcasing the growing integration of technology and retail.
Pai Platforms, a venture backed by Paytm founder Vijay Shekhar Sharma, has unveiled a new shopping app on the Open Network for Digital Commerce (ONDC). This development marks a significant move in the digital commerce landscape, showcasing the growing integration of technology and retail.
The ‘PaiPai’ app, developed by One97 Communications, the parent entity of Pai Platforms, aims to revolutionize the way consumers engage with online shopping. Despite not having direct ownership shares in Pai Platforms, Paytm’s influence and expertise have played a pivotal role in the app’s inception.
This announcement comes on the heels of Paytm E-commerce Private Limited’s rebranding as Pai Platforms, signaling a strategic shift towards enhancing the digital commerce experience. Additionally, Pai Platforms recently acquired Bitsila, a seller-side platform on ONDC, further expanding its footprint in the e-commerce ecosystem.
In a statement, Vijay Shekhar Sharma emphasized the natural progression towards commerce for Paytm and its affiliates. He stated, “Commerce is a natural extension for us. We are committing to sign up at least 10 million merchants on ONDC before 2025 ends.” This ambitious goal underscores the company’s determination to leverage ONDC’s potential as a catalyst for business growth and innovation.
The ONDC, a government-backed initiative, has emerged as a focal point for Paytm’s strategic vision. Sharma highlighted ONDC’s growing significance in the e-commerce landscape, noting that 11.8 million users have already engaged in shopping through ONDC via Paytm. He remarked, “This means that ONDC has already become a significant player in e-commerce. There are around 50 million e-commerce users in India and over a fifth are already on ONDC.”
Sharma’s optimism extends to the broader impact of ONDC, foreseeing it as a gateway to new e-commerce opportunities for various stakeholders. The platform’s inclusive approach aims to democratize digital commerce, fostering a vibrant ecosystem of merchants and consumers.
With Pai Platforms’ latest endeavor, the digital commerce landscape in India is poised for further evolution, driven by technological innovation and strategic partnerships. The ‘PaiPai’ app’s launch on ONDC signifies a step forward in redefining the future of online shopping experiences.
Sources By Agencies
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