ONDC has raised Rs 180 crore from SBI, HDFC Bank, ICICI Bank, Kotak Mahindra Bank and ICICI Bank
In case you were wondering who is funding the discounts 🤔
BREAKING:
ONDC has brought in caps on the incentives for subsidising delivery costs, which means you may see delivery fees charged by some restaurants and grocery stores.
IMP: The price difference with Swiggy, Zomato may reduce
via
@economictimes
4
13
41
6
16
123
Replies
@madhavchanchani
wont they stand to make more from the finance flow due to ONDC and the data generated through it?
1
0
0
@kushgrwl
I guess that's what they are hoping
But I am sure companies like Paytm and PhonePe are also banking on it, that's why they are pushing ONDC
1
1
1
@madhavchanchani
Hey Madhav - question, the ONDC protocol is separate from buyer apps (e.g. payTM) right?
understandable that banks use this opportunity to build ecom, etc front-ends
but are banks also subsidising discounts on 3rd party buyer apps to drive traction?
1
0
1
@scriblooooor
I haven't seen any bank directly subsidise ONDC-related orders like the card offers etc we see on Swiggy/Zomato
Here the banks are the shareholders in ONDC. And ONDC is deciding how to use the funds - so they are indirectly subsidising
2
0
2
@madhavchanchani
Heavy discounts means something is off! Big RED indicator. I have been seeing heaps of praises for ONDC lately. Let’s see how the proxy influences defend after 6-months.
0
0
0
