Magicpin to Invest Rs 100 Cr in ONDC Food Delivery
Jul 28, 2024 12:14
Magicpin will invest Rs 100 crore to onboard 1 lakh new food delivery partners on ONDC, offering zero commission and onboarding fees. The move aims to boost the government-backed e-commerce platform.
New Delhi, Jul 28 (PTI) Hyperlocal e-commerce firm magicpin plans to invest Rs 100 crore over the next three months to onboard over 1 lakh new restaurants and cloud kitchens on the government-backed e-commerce platform ONDC, the company said on Sunday.
magicpin will invest funds towards offering onboarding incentives like zero commission, zero onboarding fees, and free home delivery, among others, for customers by newly partnered restaurants.
"Our goal is to provide a risk-free entry to promote the participation of food merchants and restaurants in the digital economy by eliminating entry barriers such as high commissions and onboarding fees, and committing Rs 100 crore towards this initiative," magicpin CXO - Enterprise Brands Naman Mawandia said.
magicpin is one of the leading seller apps on ONDC. Its food tech vertical competes with food delivery apps like Swiggy and Zomato.
"We aim to not only accelerate the adoption of online food delivery among diverse restaurant partners, thereby benefiting the overall ONDC ecosystem but also see these opportunities turning into cost benefits for the end consumers," Mawandia said.
As a part of the initiative, the company claims to have introduced a self-onboarding tool to help restaurants, small and medium food delivery merchants to join ONDC in under five minutes.
"ONDC's mission is to democratise digital commerce. magicpin's investments towards onboarding more local merchants on ONDC helps India be a more inclusive digital economy," Open Network for Digital Commerce (ONDC) MD and CEO T Koshy said.
In November, ONDC reported that its food delivery order peaked at 50,000 during the India-Australia march during the cricket World Cup.
"magicpin's initiative with ONDC marks a significant step towards digital transformation for our member restaurants. We encourage all our members to join ONDC via magicpin to drive visibility, growth and a great customer experience," National Restaurant Association of India (NRAI) President Kabir Suri said.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read