Before we delve into the meaning of Open network for digital commerce, let’s understand e – commerce. In simple terms, e – commerce are the shopping application or other commercial applications where you buy and sell goods and services.
So, the concept of Open network for digital commerce is to let the buyer purchase goods and services from a seller on a different e – commerce site which means buyers registered on one e-commerce site can buy from another e – commerce site.
For instance – you have a UPI id and are registered on Paytm. So, you can pay someone who is registered on Google pay or any other banking app.
How is Open Network for digital commerce going to work?
Open Network for digital commerce will help the buyer to buy products from sellers registered on another e – commerce applications. For instance – X is a buyer registered himself on Flipkart and wants to buy things for art and craft materials registered on Amazon. So, what does he need to do? Because if the buyer wants to buy the product then he needs to register on Amazon or the seller needs to register on Flipkart.
So, here Open Network for digital commerce will play a role. With the help of ONDC the buyer can buy the product from Amazon without registering on Amazon because Open Network for digital commerce will connect e – commerce platforms.
So, basically, Open Network for digital commerce is a network – centric model which will be beneficial for small sellers and small scale businesses.