Banglore Fintech Innoviti Joins ONDC Platform to Help Small Sellers Accelerate Sales 

Banglore based collaborative commerce platform, Innoviti, announced to join government backed Open Network for Digital Commerce (ONDC). The platform claims to help businesses grow by turning their payment transactions into purchase tools that urge their consumers to buy better products and more products. Innoviti processes digital purchases of INR 75,000 Cr. annually across more than 2000 cities.

ONDC works as a helping hand for small sellers, by letting them participate in the digital revolution and get more consumers. Furthermore it provides consumers an option to explore more sellers at ease with the help of open network. It increases accessibility and democratize the digital marketplaces to enable best purchase connections between buyers and sellers.

Small sellers may, however, require digital tools, such as those that established e-commerce marketplaces may offer, in order to compete successfully. Large e-commerce platforms rely heavily on tools like no-cost EMI, cashbacks, and upgrade offers funded through banks and sponsors to increase sales.

Through its platform for cooperative commerce, Innoviti seeks to address the issue of co-funded offers for small vendors. Through its seller app that is integrated with the ONDC Network, Innoviti will assist sellers in increasing their sales by assisting sellers not only in publishing their products onto the Network so that they are visible to all buyer apps, but also in associating their products with alluring purchase tools that are co-funded by banks and brands. Small sellers will benefit from a fair playing field as a result, increasing conversion chances while lowering conversion costs.

Rajeev Agrawal, Founder and CEO of Innoviti during the event held said, "Innoviti sees a huge opportunity to unlock access to millions of customers for small merchants by not only improving their discoverability through the ONDC Network, but also by bringing access to purchase offers co-funded by banks and brands, that can help them drive more customers, more sales and more profits than possible otherwise."

T Koshy, CEO of ONDC said, "We are delighted to bring Innoviti to ONDC Network. Innoviti's participation in ONDC will help small sellers and their proposal to develop special solutions for such small sellers could be further value addition to help them fully benefit from the Network which may be a challenge with their current constraints."