Government-backed ecommerce platform Open Network for Digital Commerce (ONDC) has introduced the ‘ONDC Network Gift Card.’ This feature will be useful for companies interested in corporate gifting and employee engagement.
Currently, YES Bank and Omni Cards have launched it. Meanwhile, other banks and fintech companies are in the process of launching ONDC-sponsored gift cards. The ecommerce enabler stated that a limit of Rs 10,000 can be credited to the gift cards, ONCD stated in an statement.
ONDC Chief Executive Officer Thampy Koshy said that unlike gift cards from other ecommerce platforms, which are limited to a specific brand, these cards will allow consumers the opportunity to purchase from any brand or product.
Since its launch, ONDC has been actively collaborating with corporate companies to encourage them to use gift cards.
The government-backed digital platform has recently expanded into financial services, offering credit and insurance products. It has sought ideas from banks, NBFCs, buyer and seller apps to develop a protocol design for generating products and services such as gift cards, personal loans and invoice-based credit on the network.
Categories: Other News