New Delhi: The Open Network for Digital Commerce is set to expand its services to include financial offerings, such as credit, insurance, investments, and gift cards. Earlier ONDC successfully ventured into sectors like food, grocery, fashion, travel, and electronics. The new financial features will reportedly go live in a few weeks.
Over 65 entities have shown interest in joining the network as either buyer and seller applications (lending institutions) or technology service providers. Over 20 entities have started integrating it. The integrations are initiated either directly or through technology service providers. These include the likes of Tata Digital, India Lends, Easy Pay, DMI Finance, Aditya Birla Finance, and Karnataka Bank.
In the insurance segment ONDC is coming up with health insurance, marine insurance, and motor insurance, while in the investments it will offer mutual fund investment offerings on the network.
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