A one-stop shop for corporations seeking seamless ONDC enablement, 'ONDC in a Box' was introduced by HSBC India. HSBC India is the first foreign bank to offer an ONDC-enabled solution in India as a result of this launch. The Ministry of Commerce and Industry, Department for Promotion of Industry and Internal Trade, and Open Network for Digital Commerce (ONDC) are working together to create an open, interoperable network where buyers and sellers can conduct business without physically being on the same platform.
By encouraging an open, competitive, and inclusive network, ONDC hopes to have a greater impact on a wider range of industries.Along with its ecosystem partners Protean eGov Technologies Ltd (Protean) and Shayr Omnichannel Private Limited (Adya), HSBC India presents the "ONDC in a Box" idea. This proposal includes the provision of banking services by HSBC India and the ONDC Modules by Protean and Adya.
"HSBC India's cutting-edge digital payment solutions for your business expand the offer by delivering a seamless partner-integrated, API-enabled banking trip on ONDC. HSBC India services and manages the end-to-end banking requirements for ONDC across Payments and Settlement, according to the release.
The offering from the ecosystem partner comprises both ONDC modules and those related to front end apps like the buyer app, seller app, reconciliation service provider, issue and grievance management. Additionally, it permits multi-channel integration between marketplaces, direct-to-consumer networks, and distribution networks, converting them into omni-channel business models.
