Government-backed ecommerce platform Open Network for Digital Commerce (ONDC) has introduced 'ONDC Network Gift Card'. The feature would come in handy for companies interested in corporate gifting and employee engagement.
At the moment, the companies wanting to use this feature could reach out to YES Bank and Omni Cards.
Meanwhile, other banks and fintech companies are in the process of generating ONDC-sponsored gift cards. The govt. has currently maintained that a limit of Rs 10,000 could be credited to the gift cards which will be powered by Rupay Debit Cards.
ONDC chief executive Thampy Koshy clarified that unlike other gift cards of ecommerce platforms, limited to a particular brand, these cards will enable the consumers the opportunity to buy from any brand or product.
Since its launch, ONDC has been in active consultation with corporate companies to encourage them to use gift cards.
The govt-backed digital platform has recently forayed into financial services with credit and insurance products. It had requested ideas on the development from Banks, NBFCs, buyer and seller apps to develop protocol design for generating products services such as gift cards, personal loans and invoice-based credit on the network.