PaiPai, an upcoming app on the Open Network for Digital Commerce (ONDC) backed by Vijay Shekhar Sharma’s Pai Platforms, was inadvertently launched ahead of schedule on the Google Play Store earlier this month. Sources familiar with the matter told MoneyControl that the app has since been removed.
It was further revealed to the media outlet that the app was a beta version intended for testing within a closed user group. While the app is no longer available on the Play Store, users who had downloaded it earlier have been permanently logged out. Currently, more features are being added, and the final version of the app is expected to be launched in a full-fledged manner in the coming months.
A spokesperson for Pai Pai stated, “Our app was part of our ongoing exploration of new concepts, reflecting our commitment to innovation. Each project undergoes careful consideration before any decisions are made.” “While we cannot confirm its relaunch at this time, we are focused on improving our platform through experimentation and feedback. We will keep you updated on any future developments,” the spokesperson added.
The PaiPai app is developed by Paytm’s parent company, One97 Communications, as indicated by its Play Store listing that was briefly visible a couple of weeks ago. Paytm is not a shareholder in Pai Platforms.
The ONDC, backed by the government, has become a significant focus area for Paytm, which sees it as the next big opportunity in the digital commerce space. The ultimate goal is to encourage various types of digital commerce ecosystems throughout the nation.
Establishing a platform that eliminates the need for customers to utilise numerous delivery applications is one of its key characteristics; this makes things more simpler and less stressful for everyone involved.
There are numerous aspects that ONDC shares with the Unified Payment Interface (UPI) mobile payment system, thereby making it an intermediary between customers and sellers. Whatever payment app a person uses, they may use this mechanism to make payments.
At an industry event in the national capital last year, Paytm’s Vijay Shekhar Sharma was quoted by MoneyControl as saying, “Commerce is a natural extension for us. We are committed to signing up at least 10 million merchants on ONDC before the end of 2025.” Additionally, Sharma disclosed that 11.8 million customers previously used Paytm for purchasing items on ONDC.
Paytm E-commerce Private Limited (now Pai Platforms) had previously faced challenges in the e-commerce sector with its app, Paytm Mall. Even though it raised $400 million (Around Rs 29 billion) in early 2018 at a valuation of over $2 billion (Around Rs 145 billion) from investors including Alibaba and SoftBank, it sold its entire ownership in the firm in 2022 for a price of just over Rs 100 crore.
However, ONDC has reignited interest among tech companies in India to explore e-commerce once again. Several tech unicorns, including Ola, PhonePe, Meesho and Shiprocket, have shown interest in ONDC, aiming to challenge the dominance of a few players like Amazon, Flipkart, Zomato and Swiggy in online retail in the country.
Comments
0 comment