The country’s leading experts on e-commerce on Saturday suggested the formation of open network for digital commerce (ONDC) to create a level playing field for all market players.
Many countries introduce ONDC to democratise digital commerce by moving it away from platform-centric models like Amazon to an open network.
“ONDC may enable more sellers to be digitally visible and the transactions will be executed through an open network,” experts said adding the system may empower merchants and consumers by breaking the silos that exist today.
It will eventually touch every business, from retail goods to foods to mobility, they added.
Addressing a workshop organised by BASIS, the speakers said ONDC will bring about a revolution in the e-commerce sector.
ONDC is a system through which all the stakeholders of digital commerce can communicate with each other through a common protocol. It paves the way for small and medium e-commerce companies to grow their businesses, they added.
“The major objective of the ONDC network is to ensure that small and medium online platforms are not outplayed by big platforms”, said BASIS president Russel T Ahmed.
“The government and the private sector should work together to implement the ONDC in Bangladesh,” he said, assuring BASIS would provide technical support in this regard to the commerce ministry and the Bangladesh Bank.
Mezbaul Huq, general manager of the payment division of Bangladesh Bank, said due to the misdeeds of a few e-commerce platforms, the credibility of the entire sector took a nosedive.
He ensured Bangladesh Bank is working to restore the credibility of the e-commerce sector.
Head of the e-commerce cell of the commerce ministry Mohammed Hafizur Rahman, who was the chief guest at the program, said the ONDC network can play a vital role to protect small and medium online entrepreneurs.
The commerce ministry is going to formulate policies for implementing the ONDC in Bangladesh taking into account the best practices of other countries, he mentioned.
T Koshy, CEO of ONDC, India, presented the keynote paper in the workshop.
Mr Koshy, who is the, said that the ONGC network is common in many countries through this platform and all the e-commerce stakeholders can communicate with each other.
Former president of BASIS Fahim Mashroor, vice president of the FBCCI Amin Hiali, CEO of Pathao Fahim Ahmed, head of the Master Card Bangladesh Syed Mohammed Kamal
also spoke on the occasion.
A consumer searching for a product can see the location of the seller and opt to buy from the neighbourhood shop that can deliver faster than an e-commerce company. This may promote hyper-local delivery of goods, such as groceries directly from sellers to consumers.
