New Delhi: Udaipur-based startup WeCredit has officially joined the ONDC (Open Network for Digital Commerce) network as a buyer app. Both the giants aim to democratize financial services across the country.

This strategic integration will provide users – both individuals and businesses – a seamless access to lending and loan services through the ONDC network, making it easier to deal with financial issues.

Financial services will become simpler

WeCredit's entry into the ONDC network marks a significant shift in the digital finance landscape. WeCredit's primary objective is to simplify the loan application process and enhance financial access, allowing users to achieve their financial goals with greater ease. Aligned with ONDC's broader mission to foster a more open and inclusive digital economy, WeCredit is well positioned to play a key role in making financial services easily accessible to people in India.

He further added that India is on the cusp of digital transformation and we are excited to be a part of a movement that aims to make e-commerce more accessible and fair for all. ONDC's aim is not just business growth, it aims to revolutionise the way commerce is conducted in India, fostering collaboration, inclusiveness and innovation.

Both small and big businesses will get help

While WeCredit will initially focus on loan products, it plans to expand its offerings to include investment opportunities, insurance and select retail segments in the near future. In addition to acting as a buyer app, WeCredit will also act as a technology service provider (TSP) on the ONDC network. Businesses that join the network without the need for extensive internal technology infrastructure will also be helped by WeCredit. This will help WeCredit businesses thrive in e-commerce, lending, mobility and other areas.

He further added that India is on the cusp of digital transformation and we are excited to be a part of a movement that aims to make e-commerce more accessible and fair for all. ONDC's aim is not just business growth, it aims to revolutionise the way commerce is conducted in India, fostering collaboration, inclusiveness and innovation.

Both small and big businesses will get help

While WeCredit will initially focus on loan products, it plans to expand its offerings to include investment opportunities, insurance and select retail segments in the near future. In addition to acting as a buyer app, WeCredit will also act as a technology service provider (TSP) on the ONDC network. Businesses that join the network without the need for extensive internal technology infrastructure will also be helped by WeCredit. This will help WeCredit businesses thrive in e-commerce, lending, mobility and other areas.

T Koshy, MD & CEO, ONDC, said, “We are committed to furthering ONDC’s objectives of democratising digital commerce and promoting financial inclusion. With WeCredit’s capabilities, both small and large businesses will be better placed to navigate the digital financial landscape, opening up new opportunities for partnerships and growth.”

About ONDC

Open Network for Digital Commerce (ONDC) was established by the Ministry of Commerce and Industry on 31 December 2021. It is a government e-commerce platform. Today it is present in more than 180 cities. ONDC has been created by the government for small and big e-commerce companies. It has been designed keeping in mind the growing dominance of Amazon and Flipkart in the e-commerce market. It works to connect the biggest industries of the country to the smallest businesses.

For more information  visit  https://ondc.org/ .