29 C
Guwahati
Saturday, July 20, 2024

IDFC First Bank Joins Open Network For Digital Commerce

- Advertisement -
- Advertisement -

HT Bureau

GUWAHATI, Sept 7: IDFC First Bank signed up as a participant in the Open Network for Digital Commerce (ONDC), an initiative of the ministry of Commerce and Industry, to enable early adoption of the network among its customers, on Wednesday. As an early mover in the ONDC network, the bank has enabled a platform for buyers which will help them discover sellers in the ONDC Network as it develops over time. The bank has also started onboarding small merchants, who are its current account customers, onto a partner app registered with ONDC. The app is expected to help small merchants carry out transactions over ONDC’s electronic network and step up their digital footprint.

- Advertisement -

B. Madhivanan, chief operating officer, IDFC FIRST Bank, said, “As a technology-first bank and an early adopter of digital initiatives, we are pleased to be part of a techno-social innovation that will trigger a dramatic shift in the way buyers and sellers interact online. By leveraging ONDC, we can enable merchants to mobilise the network effect and unlock value at scale. ONDC is a fully digitally-driven model and aligns with the bank’s digital and social – good ethos.”

Shireesh Joshi, chief business officer, ONDC, said, “IDFC FIRST Bank joining the network is poised to expand the network on both sides – buyers and sellers. This is a great development and we look forward to IDFC FIRST Bank offering more options on the network on both sides. Each participant brings their unique insight and knowledge to the design they implement, and this diversity of approach will add richness to user experience on ONDC.”

- Advertisement -
The Hills Times
The Hills Timeshttps://www.thehillstimes.in/
Welcome to The Hills Times, your trusted source for daily news and updates in English from the heart of Assam, India. Since our establishment in 2000, we've been dedicated to providing timely and accurate information to our readers in Diphu and Guwahati. As the first English newspaper in the then undemarcated Karbi Anglong district, we've forged a strong connection with diverse communities and age groups, earning a reputation for being a reliable source of news and insights. In addition to our print edition, we keep pace with the digital age through our website, https://thehillstimes.in, where we diligently update our readers with the latest happenings day by day. Whether it's local events, regional developments, or global news, The Hills Times strives to keep you informed with dedication and integrity. Join us in staying ahead of the curve and exploring the world through our lens.
Latest news
- Advertisement -
Related news
- Advertisement -
Flowers Which Bloom Only At Night Top 10 Most Dangerous Animals in India Foods That Increase Uric Acid Levels 9 Exotic Summer Vacation Destinations In India Top 7 Largest Rivers In South India