The Government-backed Open Network for Digital Commerce (ONDC) has introduced a network-level gift card called the “ONDC Network Gift Card,” designed for corporate gifting and employee engagement initiatives leading up to the upcoming festive season. These gift cards can be loaded with a maximum value of Rs 10,000 and operate through the Rupay Network.
Presently, sponsoring organizations can approach YES Bank and Omni Card to issue these gift cards. Several other banks and fintech companies are also in the process of enabling ONDC-enabled gift cards. Unlike traditional gift cards limited to specific brands or platforms, ONDC’s gift cards offer consumers the flexibility to make purchases from any brand or product.
ONDC’s network is actively reaching out to corporate entities to encourage the adoption of these versatile gift cards. With these cards, consumers can utilize any ONDC buyer app to shop from a vast array of sellers within the network. Examples of available products include Kanchipur silk sarees, curated Blue Pottery collections, Tanjore Paintings, Brassware, and Kalimpong Filter Coffee. Additionally, prominent Indian fashion and electronic brands are also accessible through the network.
Since its launch, ONDC has facilitated 1.2 crore orders, with a majority coming from the mobility category and the remainder from various retail segments. Orders are generated from nearly 180 cities across India, with food accounting for 65%-70% of retail orders, and the rest coming from groceries, fashion, electronics, and kitchen categories. In the business-to-business (B2B) arena, the network handles an average of 1,500 daily orders, including one B2B transaction internationally. Earlier this year, SignCatch and Rapidor executed ONDC’s first B2B transaction.
ONDC recently expanded into international B2B exports with the inclusion of Proxtera as its first international buyer app. Proxtera serves as a meta-hub connecting B2B platforms and SMEs to explore trade opportunities and secure essential financing.
Furthermore, NoBrokerHood, the visitor, society, and payment management app by NoBroker, has been integrated into ONDC, allowing residents to engage in daily shopping through the network.
ONDC has also ventured into financial services by offering credit and insurance products. It has actively sought feedback from participants, including banks, NBFCs, buyer and seller apps, for the design of the protocol for purchasing financial products such as gift cards, personal loans, and invoice-based credit within the network.
