Paytm tests ‘Auto-Rickshaw’ rides to expand ONDC presence, challenging Ola and Uber: Report

1 week ago 5

2 min read 09 May 2024, 04:13 PM IST

Paytm reportedly plans to participate the ride-hailing assemblage via the Open Network for Digital Commerce (ONDC), offering auto-rickshaw rides successful cities similar Delhi, Bengaluru, and Chennai. This determination could grow to see cab bookings successful the future.

Paytm plans to measurement into the ride-hailing assemblage by introducing auto-rickshaw services successful metropolises specified arsenic Delhi, Bengaluru, and Chennai via the Open Network for Digital Commerce (ONDC), arsenic per a study from Money Control. The determination is aimed astatine disrupting the marketplace dominance presently held by Ola and Uber.

As per the publication, the new ride-hailing feature is presently successful investigating connected the Paytm app and is accessible to a constricted fig of users. In caller years, Paytm has gradually expanded its beingness connected ONDC, launching services successful assorted e-commerce sectors, including nutrient delivery, grocery, fashion, and electronics.

The study adds that an insider with cognition of the task stated that extended bundle investigating and integration are required earlier each rollout. They besides indicated that Paytm could perchance widen its services to see cab bookings akin to Ola and Uber astatine a aboriginal stage.

When users publication an auto-rickshaw thrust done Paytm, the app displays a connection indicating that the diagnostic is "Powered by Namma Yatri," which is the seller-side level for these transactions. The Juspay-backed level besides manages respective consumer-facing ride-hailing apps connected ONDC.

Meanwhile, the integer payments and fiscal services institution has confirmed the resignation of its Chief Operating Officer (COO) and President, Bhavesh Gupta, successful a regulatory filing dated May 4th.

In his resignation letter, Gupta stated his volition to measurement down effectual May 31st owed to idiosyncratic reasons, portion expressing his committedness to proceed supporting the institution successful an advisory capableness wrong the bureau of the Chief Executive.

Paytm acknowledged Gupta's determination and expressed gratitude for his contributions, mentioning that his resignation has been accepted and helium volition beryllium officially relieved from his duties arsenic of the adjacent of concern hours connected May 31, 2024. The institution besides highlighted its assurance successful its aboriginal trajectory, citing the beardown enactment established successful the payments and fiscal services sectors successful caller years.

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Published: 09 May 2024, 04:12 PM IST