Tag: E-commerce

Alibaba promises big discounts ahead of ‘Singles Day’ shopping event in China

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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E-commerce giant Alibaba Group said it will be offering huge discounts in China as it gears up for its annual Singles Day shopping extravaganza — an indication that Chinese consumer confidence remains at a low ebb.

The event — which begins on Tuesday and despite its name now stretches over several weeks — will offer over 80 million products at their lowest prices this year, it said in a statement.

Alibaba also said that this year its Tmall marketplace for established brands and its Taobao site for smaller retailers will offer a 15% price reduction for some products in addition to the discount coupons usually offered.

Tmall will also compare prices on products in real time with other e-commerce platforms in China and tag products with the lowest price, it said.

China has experienced much slower-than-expected economic growth following the lifting of COVID-19 curbs late last year and job insecurity for many Chinese has thrust the country’s online platforms into a “value-for-money battle”.

There have been signs recently, however, that the economy is stabilising and retail sales rose 5.5% in September, ahead of expectations and accelerating from a 4.6% increase in August.

Alibaba did not disclose how much in subsidies and coupons it plans to offer in total this year but added that Taobao and Tmall had committed an “unprecedented” amount of investment.

Presales, when consumers can put down deposits on items, will begin on Tuesday and then purchases are made over two periods — the evening of October 31 till November 3 and November 10-11 — which helps with managing the logistics of deliveries.

The company last year did not announce the sales tally for the event for the first time, saying only that the total amount was in line with 2021.

It has been toning down hype around the event as Chinese President Xi Jinping emphasises “common prosperity” — a push that seeks to eliminate growing wealth inequities and clamp down on what the Communist Party sees as excessive behaviour.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

ONDC reports record surge in order volumes during India-Pakistan World Cup 2023 match

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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While India took on Pakistan in a World Cup 2023 match on October 14, the Open Network for Digital Commerce (ONDC) saw its order volumes increase to 65,400, which was more than double the average of around 30,000 orders per day in the last month, according to people close to the developments. This was also the highest number of retail orders—which is defined as all transactions other than ride-hailing—registered by ONDC in a single day.

On match day, ONDC saw Delhi placing 7,852 orders, Bengaluru 7,586, Mumbai 3,770, Pune 3,729, Hyderabad 3,231, Jaipur 2,013, Thane 1,763, and Gurugram 1,732. While the orders were placed from a total of 600 cities, 70 of them placed over 100 orders each.

In terms of categories, food and beverage accounted for 47% of the orders, fashion 25%, electronics 9%, grocery 8%, home and kitchenware 7%, beauty and personal care 3%, and health and wellness 1%.

Moneycontrol had reported earlier that ONDC hit a fresh peak of 53,000 orders during India’s inaugural World Cup match against Australia, driven by an array of deals and discounts introduced for the festive season.

With the government-backed e-commerce network raising its incentive levels for platforms from October 3, industry sources believe players like Magicpin, Paytm, Ola, and PhonePe have an extra incentive to accelerate sales during the festive season, which overlaps with the ongoing ICC Cricket World Cup.

According to an internal slideshow of ONDC accessed by Moneycontrol, retail purchases on the network rose almost 500 times from 1,281 in January to 608,307 in September. Apart from deals and discounts funded by ONDC, industry executives feel lower commissions on the network than e-commerce majors like Amazon, Flipkart, Zomato, and Swiggy have enabled sellers and network players to offer better prices to consumers.

Last month, Moneycontrol reported that ONDC’s mobility pilot in Kolkata, which started in July, has already seen around 250,000 completed trips, 365,000 registered users, 18,600 registered driver partners, and around Rs 7 crore in driver earnings.

The network is gearing up to hit 200,000 transactions a day by the end of 2023, from the current high of 160,000 transactions, and the government is also working to bring financial products to ONDC in the next couple of months.

For its next phase of growth, ONDC has multiple strategies in place. For example, to popularise the network in tier 2 and 3 cities and beyond, it has started an online educational course for merchants that will be disseminated in 14 to 18 languages. Additionally, state broadcaster Doordarshan will soon begin regular programming to educate buyers and sellers about ONDC across the country.

Backed by the government, ONDC seeks to prevent the dominance of a few large platforms, such as Amazon, Flipkart, Swiggy, and Zomato, in the e-commerce and food delivery sectors.

The government hopes to boost e-commerce penetration in the country to 25% over the next two years, reaching 900 million buyers and 1.2 million sellers through the network. It is projected to generate a gross merchandise value of $48 billion.

ONDC is banking on three key pillars to reduce the cost of doing business for everyone, including retailers: dynamic pricing, inventory management, and delivery cost optimisation.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Amazon is looking to tap into the Korean pop craze among Indians this festive sale

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The festive season is here and most e-commerce players are gearing up to pique the interest of online shoppers. E-commerce giant Amazon has announced its Great Indian Festival from October 8. Amazon is looking to tap into the biggest and newest segment of GenZ this time in the sale, setting up an ‘Amazon Xperience Arena’ in Delhi College of Arts and Commerce, University of Delhi. The company said has a strong preference for K-pop-inspired attire.

Despite, inflationary concerns, many reports suggest that consumption is going up. According to the fourth wave of the UBS Evidence Lab, India’s post-COVID consumption outlook consumer survey, Indian consumer spending may rise this year — 70% of respondents expect festive spending to rise and 18% expect stable spending.

According to Amazon’s own trends, 50% of customers shopping on its website or app are from GenZ and from North India. Customers in Delhi show a strong inclination towards premium products, such as premium sarees in the newly launched ‘Saree Store’. Amazon said the GenZ customer is keen on K-pop-inspired attire, such as oversized clothing, including baggy pants and oversized blazers, and nostalgia-driven fashion trends from the Nineties and early 2000s styles. GenZ is also opting for indo-western styles like print-on-print sets, ethnic co-ords, and pre-draped sarees, Amazon said.

Amazon said it is launching more than 5,000 new products, along with new offers across categories including Grocery, Fashion & Beauty, Smartphones, Large appliances & TVs, Consumer Electronics and more.

Saurabh Srivastava, Vice President, Amazon Fashion India, said fashion and beauty is growing to become the biggest segment on Amazon this festive season. “For Fashion and beauty enthusiasts, we have thousands of new launches from over 50+ brands on Amazon.in. Delhi is one of the top-performing cities for Amazon Fashion. We have observed an increase in demand for premium products from Delhi’s fashion enthusiasts and GenZers are opting for K-pop-inspired (Korean) and nostalgia-driven trends, such as 1990s and early 2000s styles.”

According to a recent study conducted by Nielsen Media commissioned by Amazon India, consumers across India are bullish, excited and more eager than ever to shop online this festive season. About 81% of consumers intend to shop online this festive season; 50% are willing to increase their spending compared to last year; and over 75% trust e-commerce platforms to offer genuine products and find it most convenient for festive shopping.

Also read: Top home decor deals on Amazon, Flipkart and Myntra festive sales

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

81% Indians intend to increase online spending this festive season, electronics top the shopping cart: Report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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As the festive season sale is set to kick-start this week, one in every two Indian consumers intends to increase online spending, compared to the last period, a study conducted by Nielsen Media India, on behalf of Amazon India showed.

Electronic items top the shopping cart of consumers during festive season. The study showed that over 70 percent of consumers wait for festive sales to buy electronic products with 76 percent of them waiting to purchase smartphones. Meanwhile, three in four consumers wait for online festive shopping events to purchase large appliances such as refrigerators, washing machines, geysers, and air conditioners.

The next big category is apparel, footwear and accessories, with Gen-Z taking the lead (69 percent). 80 percent of consumers surveyed in the report said the festive sale season provides them access to trendy brands for apparel, footwear, and various fashion accessories with nearly 64 percent sharing their intent to purchase across these categories this festive season.

The report highlighted that an impressive 75 percent of consumers believe in the convenience of online shopping events that offer the finest quality grocery and everyday essential products.

Now what’s driving the core online shopping experience this season is — a wide selection of products, value with competitive pricing and convenience of easy returns and exchange. Over 77 percent of consumers affirmed that online festive shopping events enhance the convenience of their online shopping experience with options like faster delivery. Meanwhile, over 75 percent of consumers are excited with attractive bank offers and No-Cost equated monthly instalments (EMIs) for making their purchases more convenient and rewarding.

Amazon has announced that the ‘Amazon Great Indian Festival’ (GIF) will start from October 8, with 24 hours of early access for Prime members. Customers will also get early access to more than 25,000 products till October 6 through Kick Starter Deals. Customers will be provided with 5,000+ new launches and will be able to access Amazon Home Services across 19,000 pin codes. More than 12 lakh sellers will be offering products from Indian small and midsize business (SMBs) and local stores.

“As a marketplace, we are excited for our sellers and customers, and confident that the ‘Amazon Great India Festival 2023’ will offer a seamless shopping experience, incredible value, the widest selection of domestic & international brands and products, and unmatched convenience for consumers across India,” said Manish Tiwary, Country Manager India Consumer Business, Amazon India.

E-commerce platform focused on Bharat market, Snapdeal will launch the first sale of the festive season, “Toofani Sale – Festive Dhamaka”, starting from October 8 to 15.  During the sale period, shoppers can expect to enjoy remarkable discounts ranging up to a whopping 90 percent, including 50 percent to 90 percent Off on new deals on an extensive range of products across categories. This festive season, fashion and beauty will take centre stage with 50000+ styles and top brands, the firm said.

Another e-commerce unicorn Meesho has announced its festive ‘Meesho Mega Blockbuster Sale’ beginning from October 6. The company said it will continue to boost accessibility, affordability, selection, and experience for its valued customers. With over 14 lakh sellers and 12 crore product listings across 30 categories, Meesho aims to ensure that customers across India have a plethora of affordable options to choose from this festive season.

E-tailing in India is expected to grow 5x — from $59 billion in 2022 to $300 billion by 2030, with over 45 percent of gross merchandise value (GMV) driven by ‘mass’ consumers who look for value at affordable prices, according to a report by Redseer. The report estimates a 6-8x growth in third-party logistics (3PL) shipments between 2022 and 2030—from 2 billion to 13 billion-17 billion.

On the basis of average share of ecommerce 3PL shipments during January-August this year, Meesho has emerged as the largest ecommerce 3PL shipment contributor in India. Flipkart, Ajio, and Amazon are the other top players. The rest of the shipments are driven by vertical e-commerce platforms, D2C brands, and smaller e-tailers.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Vaibhav Global to strengthen its digital abilities with a €12 million acquisition of Mindful Souls

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Omni channel e-tailer Vaibhav Global Ltd. on Wednesday, September 27, informed the stock exchanges that its wholly-owned subsidiary Shop TJC (UK) will be acquiring e-commerce company Mindful Souls BV, for €12 million. The company plans to fund this acquisition via internal accruals.

While Vaibhav Global is an omni-channel e-tailer of jewellery, accessories and lifestyle products, Mindful Souls BV is an e-commerce company that deals with subscription-based online sales of fashion jewlery, lifestyle products and gemstones.

Vaibhav Global’s managing director Sunil Agarwal said Mindful Souls’ native digital abilities will allow his company to strengthen its digital businesses. “The proposed acquisition will create synergies through our deep sourcing and manufacturing abilities,” he said.

Mindful Souls was incorporated in the Netherlands in 2018. It mainly serves the United States, where it gets 90 percent of its revenue from, through marketplaces and its proprietary e-commerce websites. It also has a presence in Canada, UK, Australia and Europe. It achieved an annual turnover of €18 million in 2022 with a profit before tax margin of 10 percent.

On the other hand, Vaibhav Global’s products are accessible to 141 million households, via its TV home shopping networks and websites in the US, UK and Germany, it added.

Shares of the omni-channel e-tailer have gained nearly 47 percent this year, so far and last closed at Rs 451.50 apiece on Monday.

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

E-commerce platforms to clock Rs 90,000 crore in festive season sales in 2023: Report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The upcoming festive season sales of 2023 across e-commerce platforms are expected to clock a gross merchandise value of around Rs 90,000 crore, a report by Redseer has stated.

This figure, which is for the entire festive month would be a growth of 18-20 percent over last year’s festive month sales. Last year, between September 22 and October 23, the total gross merchandise value (GMV) or the total value of merchandise sold across e-commerce platforms stood at nearly Rs 76,000 crore.

Redseer says this year’s sales will be driven by about 140 million shoppers who are expected to be transacting online at least once during this festive month.

While electronics drive most of the purchases during the festive season, Redseer says this year will see increasing contributions from higher margin categories like Beauty & Personal Care (BPC), Home & General Merchandise, Fashion etc. Also, there will be persistent premiumisation leading to rising Average Selling Prices (ASP), it said, adding that increasing ads and promotion revenues is likely to make this year’s festive season the most efficient from a margin perspective.

“Over the last several quarters, we are seeing enhanced GMV contributions from categories beyond electronics. While electronics sell a lot in the festive period, looking at the bigger picture and comparing the festive sale periods over the last several years, there is a clear trend of category diversification,” said Mrigank Gutgutia, Partner at Redseer Strategy Consultants.

Beyond category diversification, Redseer also estimates D2C brands to grow 1.6x as fast as the broader eTailing market (CAGR 2022-27).

In terms of city-tier-wise growth, metros have been growing faster than Tier 1 and Tier 2+ cities in the last few quarters (over 10 percent for metros vs about eight percent for other city tiers).

This year also marks 10 years of e-commerce festive season sales with the first e-commerce sales happening in 2014.

As per Redseer’s estimates, over these 10 years, the annual GMV for the overall e-tailing industry has grown almost 20 times in the period — from a GMV of Rs 27,000 crore in 2014 to an estimated Rs 5,25,000 crore for 2023 — while the number of annual transacting users has jumped 15x.

This festive season however also comes on the back of a consumption slowdown that the economy has seen due to high inflation.

While growth was strong after the COVID-19 pandemic when most people sought to shop online as stores were closed and on the back of fears of stepping out, Redseer says the last two quarters have been relatively muted.

The e-tailing industry recorded approximately 10 percent annual GMV growth (January – July 2023 vs January – July 2022). However, with the broader economy coming back to business-as-usual levels, it expects this festive season is likely to catalyze online consumption demand.

Also Read: Indians earning Rs 2.5-10 lakh to drive $300 billion e-commerce boom by 2030: Redseer

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

National e-commerce policy in final stages; to be presented before top-level: Senior government official

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The proposed national e-commerce policy being formulated by the commerce and industry ministry is in the final stages and no new draft policy will be issued now for seeking views of stakeholders, a senior government official said. The Department for Promotion of Industry and Internal Trade (DPIIT) on August 2 held a detailed discussion with representatives of e-commerce firms and a domestic traders’ body on the proposed policy.

In that meeting, a broad level of consensus emerged among the concerned stakeholders on the proposed policy. “Now no draft policy will come. That exercise is over now. We are just getting a final sign off, the official, who did not wish to be named, said, adding there will be a presentation of the proposed policy at the top level of the government.

On data localisation, the official said that the e-commerce companies would have to follow the law of the land. Earlier the ministry had issued two draft national e-commerce policies. The 2019 draft proposed to address six broad areas of the e-commerce ecosystem – data, infrastructure development, e-commerce marketplaces, regulatory issues, stimulating domestic digital economy and export promotion through e-commerce. The draft had talked about a framework for restrictions on cross-border data flow; collection or processing of sensitive data locally and storing it abroad; measures to contain sale of counterfeit products, prohibited items and pirated content; and review of the current practice of not imposing custom duties on electronic transmissions in the light of the changing digital economy.

Besides, it had suggested provisions on promoting exports through ecommerce; and developing capacity for data storage in India. The proposed policy would take into account the interests of all stakeholders, like investors, manufacturers, MSMEs, traders, retailers, startups and consumers. The government is also in the process of framing consumer protection rules for the sector.

Broadly the intention is to make the policy work along with the consumer protection rules and not in conflict with each other. The e-commerce policy aims to prepare strategies for providing a conducive environment for inclusive and harmonious growth of the e-commerce sector through a streamlined regulatory framework for ease of doing business, adoption of modern technologies, integration of supply chains and enhancing exports through this medium.

Domestic traders body CAIT has time and again demanded roll out of the policy as they had alleged that foreign online retailers violate norms of the FDI (Foreign Direct Investment) in commerce and the government should take action against those who are indulging in malpractices. The government permits FDI in the marketplace model of e-commerce and it is not allowed in the inventory-based model.

The onus of compliance with the provisions is on the invested company and any violation of FDI regulations is covered by the penal provisions of the FEMA (Foreign Exchange Management Act). While the RBI administers the Act, the Enforcement Directorate is the authority for the implementation of FEMA and takes up investigations in cases of contravention of the law.

Further, the regulatory framework for the digital/e-commerce sector is still evolving in the country. The sector is governed by the Information Technology Act, Consumer Protection Act, FDI policy on the e-commerce sector, and Competition Act. The DPIIT is also working on a national retail trade policy. Domestic traders have also sought a regulatory authority be set up to monitor and regulate e-commerce trade in the country.

Also Read: India’s digital advancements | Full Q&A with Rajeev Chandrasekhar, MoS Electronics & IT

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Zoomed Out | Open Network for Digital Commerce — here’s why payment aggregators are key for its success

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Open Network for Digital Commerce (ONDC) is an alternative to the existing platform-centric model backed by the government of India to create a common digital infrastructure for the Indian e-commerce industry. ONDC, is a private non-profit Section-8 company established by the Department for Promotion of Industry and Internal Trade (DPIIT).

Interoperability, decentralisation and unbundling are the main principles of the ONDC network. The aim is to develop open e-commerce, democratise digital commerce for buyers and sellers, facilitate seamless interoperability between various e-commerce platforms and enable consumers, merchants, and service providers to transact digitally with ease. 

For example, in an e-commerce transaction, the seller-side, logistics, payments, and buyer-side activities can be handled by different entities, this way the ONDC infrastructure breaks down complexities into micro activities and makes the network unbundled. It enables e-commerce platforms to access a common set of application programming interfaces (APIs) and data services, which will enable them to offer a range of services to their customers. Also, data availability and control over a transaction lie at both the seller and the buyer side, making it decentralised.

The ONDC network is expected to reduce the complexity and cost of e-commerce operations in India and enable small and medium-sized enterprises (SMEs) to participate in the digital economy. The project is also expected to promote innovation in the e-commerce industry and enhance the competitiveness of Indian e-commerce companies in the global market.

How does it work?

Let us say a buyer wants to buy a product —he or she will go and search for it in any of the e-commerce apps and/or may go and look at different apps to get the best deal. However, switching from one app to another can be cumbersome and time-consuming. ONDC, a super aggregator network, is set to change this. When a buyer goes and searches for a product on the ONDC buyer app, he will get the results from different e-commerce platforms and listings, and get to compare prices, features, and discounts available in a single view. 

However, the major benefit goes to the small or medium size sellers. Currently, a few large e-commerce players dominate the market as they have evolved into large integrated solution providers that have services like warehousing, logistics, and payments under one roof.  Small businesses and merchants haven’t been able to benefit from the large e-commerce platforms and to enter the digital market because, though it is easy to sell online, it takes substantial investments to build a suite of integrated solutions.

On many occasions, such smaller players need to sell their products on the platforms of the large players, which is not beneficial for them because of the big percentage of sales that needs to be shared with such platforms. Also, if a seller wants to be on multiple platforms, it needs to maintain separate infrastructure and processes, as different platforms have different policies in place. The idea of ONDC is not only to make small-time players discoverable but also to curb the dominance of e-commerce giants and create a level playing field in the e-commerce space.

Who are payment aggregators?

Payment aggregators are important intermediaries that facilitate online payments. Simply put, a payment aggregator is a third-party service that allows merchants to accept customer payments by integrating them into their apps or websites. 

Let us say that you are an e-commerce player looking to offer your customers online payment options. Tying up with different banks and service providers will take a lot of time and will also involve costs. Instead, you can tie up with payment aggregators. 

Once the payment aggregator onboards a merchant, they provide the merchant with a sub-merchant account. Without a merchant account, a merchant will not be able to accept payments from customers. The payment aggregator lets consumers on your e-commerce platform pay through various payment channels and takes care of your end-to-end payment processing and settlement.

Why payment aggregators are important for the success of the ONDC small business scheme?

Once the buyer has completed the search for a product and selected the platform and the best deal to purchase it, the part played by the ONDC network gets over and the role of the payment aggregator comes in. Payment aggregators act as intermediaries between buyers, sellers, and various service providers and facilitate the smooth processing of payments within the ONDC network. Apart from the ease of payments for buyers, instant approval, and payment acceptance for sellers, the following are some key roles and responsibilities of payment aggregators:

1. 1. Payment Processing: Payment aggregators enable the processing of online payments by integrating with different payment systems, such as credit cards, debit cards, net banking, digital wallets, and Unified Payments Interface (UPI). They provide a unified interface for sellers, buyers, and service providers to initiate and complete transactions securely.

2. Merchant Onboarding: Payment aggregators assist in onboarding and verifying merchants on the ONDC network. They validate the merchant’s credentials, perform due diligence checks, and ensure compliance with regulatory requirements. This helps in maintaining the integrity and security of the network.

3. Settlement and Reconciliation: Payment aggregators handle the settlement process, ensuring that funds are transferred from the customer’s account to the merchant’s account efficiently. They also facilitate reconciliation between various parties involved, ensuring accurate accounting and reporting of transactions.

4. Risk Management: Payment aggregators employ sophisticated risk management systems to detect and mitigate fraudulent activities. They implement fraud detection algorithms, monitor transaction patterns, and employ measures to secure the network against potential threats. This helps in building trust and confidence among participants in the ONDC network.

5. Data Security and Privacy: Safeguarding sensitive payment data is one of the important roles played by payment aggregators. Compliance with data protection regulations and industry standards is their key responsibility within the ONDC ecosystem.

6. Value-Added Services: In addition to core payment processing, payment aggregators may offer value-added services such as analytics, reporting, customer support, and loyalty programs. These services enhance the overall user experience and provide additional benefits to merchants and consumers within the ONDC network.

Overall, payment aggregators act as facilitators in the ONDC network, enabling seamless and secure digital transactions. They bring together various stakeholders and provide the necessary infrastructure and services to drive the growth of digital commerce in India. Thus are essential for the success of ONDC’s scheme, as they will help small businesses start selling products seamlessly and expand their reach.

—The author, Anup Nayar, is CEO-Domestic, In-Solutions Global Ltd. The views expressed are personal

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

E-commerce companies asked to desist from selling dangerous products, using dark patterns

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Union Minister of State for Consumer Affairs, Food & Public Distribution, Ashwini Kumar Choubey on Wednesday said in the Lok Sabha the Central Consumer Protection Authority (CCPA) has issued advisories to e-commerce companies to desist from manufacturing, selling or listing products that are dangerous to the lives of the consumers. Key among these are against the sale of car seat belt alarm stopper clips and wireless jammers.

Under the provisions of the Consumer Protection Act, 2019, a CCPA has been established to regulate misleading advertisements. The CCPA has advised all marketplace e-commerce platforms to display information provided by sellers as per the E-Commerce Rules, 2020.

The press release said CCPA has also issued two safety notices cautioning consumers against buying goods that do not hold valid ISI Mark and violate compulsory BIS standards, such as helmets, pressure cookers, cooking gas cylinders and other household products.

The Minister added that the department has noticed the emergence of unfair trade practices known as “dark patterns” which involve using design and choice architecture to deceive or influence consumers into making choices. As per him, e-commerce companies have been asked to avoid such practices.

The Consumer Protection Act, 2019 was enacted to replace the Consumer Protection Act 1986. It provides for improved protection for consumers involved in online transactions. The new act has widened the scope of the definition of “consumer” to include persons who buy or avail of goods or services online or through electronic means which was not present in the earlier act.

Also Read:E-commerce industry likely to create 7 lakh gig jobs in second half of 2023: TeamLease 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow