Business

Sequoia-backed Fintech Razorpay Joins ONDC

The finance technology platform Razorpay, which mostly serves companies, said that it would join the government’s Open Network for Digital Commerce (ONDC) e-commerce initiative. A payment reconciliation service will be introduced by the Tiger Global-backed payments solution provider for a number of network members, including buyers, sellers, and logistic providers.

The Bengaluru-based company claims to have over 10 million organisations, including small and medium-sized businesses, on its platform and claims that because of its history of maintaining an audit trail, it will probably be able to resolve any disagreements or discrepancies that may occur on the network.

According to Shashank Kumar, managing director and co-founder of Razorpay, the options offered by the ONDC are limitless. He believes that, from payments and compliance perspective, the payment reconciliation service will serve to strengthen the growth of ONDC’s technological infrastructure.

Speaking of, Razorpay is the second significant fintech platform to join the ONDC in the same month. Earlier this month, Walmart-owned PhonePe joined the open network, but through a different software called Pincode that was made specifically for ONDC.

What is ONDC?

 

For the unversed, It is an open technology network built on an open protocol that will allow any network-enabled application to identify and engage with local commerce across categories like mobility, shopping, food order and delivery, hotel booking, and travel.

Regardless of the other applications users use, the platform enables buyers and sellers to interact and conduct business online. To complete a transaction, buyers and sellers are not required to use the same platform or mobile app. They can still conduct business while using various programmes.

The advantages of ONDC include access to more customers, improved product and price discoverability, autonomy over terms due to a variety of options for being digitally visible, reduced operating costs, and more possibilities for value chain services like shipping and fulfilment.

 

Malika Sahni

Recent Posts

Hina Khan Hails 11 Years Of PM Modi’s Leadership; Highlights National Progress

As the nation marks 11 years under PM Modi's leadership, actress Hina Khan shares her…

1 hour ago

Subhash Ghai Hails PM Modi’s Transformative Vision For India

Subhash Ghai has praised PM Narendra Modi’s leadership for catalysing India’s growth and changing the…

2 hours ago

India & Central Asia Boost Rare Earth Cooperation At Delhi Meet

India and five Central Asian nations have agreed to deepen cooperation on rare earths and…

2 hours ago

PM Modi’s Beej Se Bazaar Tak Vision Reshapes Indian Agriculture

Prime Minister Modi has redefined Indian agriculture with the ‘Beej Se Bazaar Tak’ vision, transforming…

3 hours ago

EV Sales Cross 4% Mark In May; Signalling Steady Shift To Green Mobility

EV sales topped 4% of passenger vehicle retail in May 2025, signalling growing demand for…

3 hours ago

Self-Reliant Defence Industry Marks India’s Strategic Security Ascent

One year into Modi 3.0, reforms have reduced poverty, strengthened defence, and accelerated the digital…

3 hours ago