Magicpin sees multi-fold growth in orders on ONDC
Hyperlocal startup magicpin on Friday said has recorded 200-fold growth in daily orders to 20,000 per day within the first five weeks of joining the government-supported Open Network for Digital Commerce (ONDC).
New Delhi: Hyperlocal startup magicpin on Friday said has recorded 200-fold growth in daily orders to 20,000 per day within the first five weeks of joining the government-supported Open Network for Digital Commerce (ONDC).
Magicpin said it has reached 20,000 per orders day on the ONDC platform in the week ending May 7. "Within the first four weeks of joining ONDC, magicpin scaled from 100 to 10,000 orders a day. In the fifth week, we saw a massive leap to 20,000 daily orders. This represents a 200-fold growth in ONDC's daily orders through magicpin.
"We are thrilled to take the network to another level by enabling customers to shop at their favourite local businesses or other retailers on ONDC," its CEO and co-founder Anshoo Sharma said in a statement. The number of orders soared beyond expectations as magicpin doubled its daily orders via its own buyer app and through buyer apps of multiple platforms like Paytm, Phonepe's Pincode and Meesho.
"This milestone reflects our collaboration with the ONDC team and the combined relentless efforts to provide the best local discovery and rewards platform for the customers," Sharma said. Magicpin said that it is also building a Software-as-a-Service (SaaS) platform for the Open Network for Digital Commerce (ONDC) initiative.
With this SaaS platform, magician aims to offer its proprietary technology stack, including tools for digital payments, customer engagement and loyalty programmes to SMEs that can enable them to compete with larger players in the market. "This initiative is expected to drive greater adoption of digital commerce among small businesses," the statement said. The company made its services visible on various other buyer apps, such as Paytm, Spice Money, Mystore, Craftsvilla and Meesho. PhonePe had recently announced its Pincode initiative, which will be leveraging magicpin's last-mile connectivity on ONDC, the statement said.