Leading branchless banking and digital network PayNearby has introduced a meta commerce platform to enable easy availability of products and services in an assisted mode at the last mile, ahead of the nationwide rollout of the Open Network for Digital Commerce (ONDC).
The meta platform will soon be merged with ONDC, and PayNearby intends to use the initiative to modernize every merchant in its network. Within hours of the mall’s inauguration, the business announced that over 6000 retailers had upgraded their accounts.
Over 250 orders were placed by more than 100 shops. According to PayNearBy, the most popular categories were mobile phones and accessories, home appliances, consumables, and textiles, with many people looking for two wheelers.
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It aims to empower retailers and sellers, ranging from large merchants to local sellers and small enterprises, to meet the demands of their clients both locally and across a larger national market. The platform will assist shops in broadening their scope, running a more lucrative business with no additional working capital, and utilizing technology to make all types of services available at the last mile.
For clients, it aims to deliver a seamless, cheap one-stop-shopping experience in which they can go into their nearest PayNearby store and, with the assistance of a local retailer, discover any seller, product, or service at the best price. According to PayNearBy, it will enable an optimal demand and supply match, which will likely promote the expansion of local economies.
”Retailers will no longer be constrained by their working capital, store size, or shelf space. All they would need is their PayNearby/NeoDukaan app to offer international inventory to their clients at the press of a button, supported by 50+ brands/partners,” stated Founder, MD & CEO, PayNearby, Anand Kumar Bajaj.