DBS Bank & Gofrugal tech to help MSMEs onboard ONDC

New Delhi, Dec 16 (KNN) DBS Bank India has partnered with Gofrugal Technologies Pvt. Ltd to support small and medium enterprises (SMEs) and retail merchants to expand their sales on ONDC.

Both the parties intend to help SMEs in efficiently cataloguing their products by using Gofrugal Technologies' digital solutions.

Gofrugal Technologies acts as one of ONDC’s technology partners and is a front-runner in the field of ERP for onboarding seller apps by digitizing their store, inventory, and operations.

The Government of India's Open Network for Digital Commerce (ONDC) programme is a platform built on a universal standard that would enable local commerce in a variety of industries, including mobility, groceries, food order and delivery, hotel booking, and travel.

It was introduced earlier in April, with an objective to compete with the large international e-commerce companies that now hold the majority of the market share in India.

The platform provides MSMEs with a fair playing field in an effort to open up new alternatives and is expected to drive the Gross Merchandise Value of India from 4.5 lakh crore to 7.5 lakh crore.

Divyesh Dalal, Managing Director & Head - Global Transaction Services, DBS Bank India, said, “Our partnership with Gofrugal enables us to drive tech-based solutions for merchants desirous of joining the ONDC network, thereby enabling wider participation in the next wave of e-commerce sector growth.”

"Gofrugal is excited to partner with DBS Bank India to help SMEs acquire a significant share in the fast-growing digital commerce ecosystem. We expect this partnership to offer significant benefits to SMEs by enriching their customer experience in accessing capital, processing payments and reducing the friction and effort in managing their finances,” said Kumar Vembu, CEO of Gofrugal Technologies.  (KNN Bureau)