ONDC partners with Proxtera for global B2B trade expansion

  • Industry News
  • Sep 18,23
SignCatch and Rapidor will be among the initial participants to join ONDC's international B2B seller network, with Bech.app and placeorder.com taking on these roles, respectively.
ONDC partners with Proxtera for global B2B trade expansion

The Open Network for Digital Commerce (ONDC) has partnered with the Singapore-based platform Proxtera to launch its first international buyer app, marking its entry into the global business-to-business (B2B) export arena.

In addition to this collaboration, SignCatch and Rapidor will be among the initial participants to join ONDC's international B2B seller network, with Bech.app and placeorder.com taking on these roles, respectively.

This exciting development between ONDC and Proxtera was recently unveiled in Mumbai during the 4th G20 Global Partnership for Financial Inclusion (GPFI) as part of the Global SME Finance Forum.

T Koshy, ONDC's Managing Director and CEO, expressed, "Today's demonstration is a significant stride toward facilitating digital cross-border market access for Indian businesses and SMEs. Proxtera, as the inaugural international buyer app from Singapore, along with the contributions of SignCatch and Rapidor as sellers, bridging the gap between businesses through cross-border trade, play a pivotal role in this journey."

Proxtera functions as a meta-hub connecting B2B platforms and SMEs for trade and financing. It operates under the Business sans Borders (BsB) initiative, collaboration between the Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA).

ONDC, in a statement, underlined the significance of this groundbreaking partnership, stating, "This landmark collaboration solidifies a clear vision for the future of financial technology, ultimately establishing a globally recognised framework and democratising access to global trade."

The collaboration promises to empower Indian businesses by enhancing product visibility and opening up new markets. Digital tools will facilitate document exchanges, deal negotiations, cross-border payments, and shipment management. Proxtera CEO Saurav Bhattacharyya commented, "As the inaugural international B2B buyer app on ONDC, Proxtera is proud to create fresh opportunities for SMEs to engage in cross-border trade. This collaboration is a pioneering step toward democratising access to international trade for SMEs in India, Singapore, and around the world."

Liquid Group, a fintech company within Proxtera's financial services network, will facilitate cross-border digital payments for B2B buyers in Singapore.

ONDC, an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, serves as a digital network aimed at democratising e-commerce by connecting buyers and sellers across various platforms.

Source: Indiatimes


Related Stories

Other Industrial Products
Mahindra Logistics launches services on ONDC network

Mahindra Logistics launches services on ONDC network

Mahindra Logistics will provide same-day and next-day intra-city pick-up and delivery services to all sellers on ONDC.

Read more
Electrical & Electronics
Ashwini Vaishnaw urged Google to produce Tensor chipset in India within 3 yrs

Ashwini Vaishnaw urged Google to produce Tensor chipset in India within 3 yrs

Google has revealed plans to manufacture Pixel smartphones in India, prompting Union Minister Ashwini Vaishnaw to urge the company to produce its Tensor chipset within the country within three years..

Read more
Other Industrial Products
ONDC partners with Proxtera for global B2B trade expansion

ONDC partners with Proxtera for global B2B trade expansion

SignCatch and Rapidor will be among the initial participants to join ONDC's international B2B seller network, with Bech.app and placeorder.com taking on these roles, respectively.

Read more

Related Products

High Quality Industrial Ovens

INDUSTRIAL SUPPLIES

Hansa Enterprises offers a wide range of high quality industrial ovens. Read more

Request a Quote

Hydro Extractor

INDUSTRIAL SUPPLIES

Guruson International offers a wide range of cone hydro extractor. Read more

Request a Quote

Drilling Equipment

INDUSTRIAL SUPPLIES

Wohlhaupter India offers a wide range of general purpose drilling equipment. Read more

Request a Quote

Hi There!

Now get regular updates from IPF Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Industrial News on Whatsapp! Enjoy

+91 84228 74016

Reach out to us

Call us at +91 8108603000 or

Schedule a Call Back