Bengaluru, NFAPost: PayNearby, a leading branchless banking and digital network in India, has introduced PayNearby Mall, a meta-commerce platform that aims to make goods and services easily accessible at the last mile with assisted mode. The company plans to integrate it with the Open Network for Digital Commerce (ONDC) platform, aiming to empower its vast network of retailers to benefit from the ongoing e-commerce revolution.
The launch of PayNearby Mall has seen a swift response, with over 6,000 retailers already upgrading themselves to the platform within hours. More than 100 retailers have already placed over 250 orders, with mobile phones and accessories, home appliances, groceries, textiles, and two-wheelers being the most sought-after categories. The meta-commerce platform is designed to cater to retailers of all sizes, from big merchants and e-commerce platforms to local sellers and small businesses through the ONDC integration. It enables retailers to expand their markets, increase profitability without additional working capital, and leverage technology to offer various services at the last mile.
The PayNearby Mall initiative benefits millions of consumers in India by providing them with a wider range of choices and a seamless one-stop-shopping experience at nearby stores. Customers can visit their nearest PayNearby store and, with the assistance of local retailers, discover sellers, products, and services at the best prices. The platform aims to achieve an optimal match between demand and supply, contributing to the growth of local economies and the overall financial health of the country.
Anand Kumar Bajaj, Founder, MD & CEO of PayNearby, expressed his enthusiasm for the launch of PayNearby Mall, highlighting the company’s commitment to empowering local sellers and buyers. The initiative aims to provide a user-friendly platform for product discovery, price comparison, and convenient purchases, ultimately helping small businesses digitally transform and adapt to the current market. With PayNearby Mall, e-commerce becomes accessible, easy, and cost-effective, enabling retailers in India to offer a wide range of products and services. The platform eliminates limitations related to working capital, store size, and shelf space, allowing retailers to tap into global inventory through the PayNearby/NeoDukaan app. Furthermore, the integration with ONDC will enable local goods and sellers to reach their full potential and meet the growing demands of the ambitious Indian market at the last mile.
PayNearby Mall marks an important step toward the company’s vision of creating a comprehensive digital ecosystem for retail in India. As the retail industry undergoes a rapid transformation in the country, this initiative paves the way for the upcoming ONDC initiative, which aims to democratize access to digital commerce for businesses of all sizes. The platform is expected to deliver value to retail partners and customers, contributing to the growth of India’s digital economy. By empowering local retailers, PayNearby aims to accelerate the digital transformation of Bharat and work toward realizing the vision of a “Digital India.” PayNearby Mall provides every retailer in the country with an opportunity to succeed and actively contribute to India’s digital economy, aligning with its goal of progressing forward.
