PayNearby launches meta commerce platform for small retail businesses
By Retail4Growth Bureau | May 15, 2023
The branchless banking and digital network has announced the launch of what it calls the PayNearby Mall, which will enable easy availability of good and services for retailers and will soon be integrated with the Open Network for Digital Commerce (ONDC) platform.
PayNearby, the branchless banking and digital network, has announced the launch of what it calls the PayNearby Mall —a meta commerce platform, which it says will enable easy availability of good and services, in an assisted mode at the last mile. This will soon be integrated with the Open Network for Digital Commerce (ONDC) platform. “With this initiative, PayNearby aims to upgrade every retailer, in its million+ active network, to benefit from the ongoing e-commerce revolution, including the ONDC platform,” informs the company statement.
Within hours of the launch, the company shared that more than 6000+ retailers have upgraded themselves into a mall. More than 100+ retailers have ordered over 250+ orders. The most popular categories included mobile phones and accessories, home appliances, groceries and textiles while many searched for two wheelers also, according to the statement.
Commenting on the development, Anand Kumar Bajaj, Founder, MD & CEO, PayNearby, said, “With the past 18 months of work, we are finally thrilled to present PayNearby Mall, an initiative to elevate every trusted small store in Bharat into a super mall. With this feature, we look to empower local sellers and buyers and give them a user-friendly platform to discover products and sellers, compare prices, and make purchases with ease. It will help digitally overhaul small businesses gearing them towards a better livelihood and bringing them at par with the current times. Trust augmented.”
”With PayNearby Mall, e-commerce will now be accessible, easy and pocket-friendly, allowing retailers in Bharat to offer ‘Sab Kuchh’ from their stores. Retailers will no longer be limited by working capital, store size or shelf space. All they would need is their PayNearby/NeoDukaan app to offer worldwide inventory to their customers, supported by 50+ brands/ partners, at the click of a button,” he added. The platform will soon integrate with ONDC too, so that local goods and sellers can reach their full potential and serve the growing demands of ambitious and unstoppable Bharat at the last mile.