PayNearby, a branchless banking and digital network in India, launched PayNearby Mall—a meta-commerce platform to enable easy availability of goods and services, in an assisted mode at the last mile. The company has said in a statement that this will soon be integrated with the Open Network for Digital Commerce (ONDC) platform.
With this initiative, the company aims to upgrade every retailer, in its active network, to benefit from the ongoing e-commerce acceleration.
Within hours of the launch, the company stated that more than 6000 retailers upgraded themselves into a mall. More than 100 retailers ordered over 250 items. The most popular categories included mobile phones and accessories, home appliances, groceries and textiles while many searched for two-wheelers also.
PayNearby Mall is envisioned as a meta-commerce platform that will empower every retailer and seller, from big merchants and e-commerce platforms to local sellers and small businesses (through ONDC) meet the unmet demand of their customers, both locally and across a wider market PAN India. It will help retailers expand their market, run a more profitable business with no additional working capital requirement and use technology to make all forms of services available at the last mile.
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.