The Open Network for Digital Commerce is set to levy a fee of Rs 1.50 on every successful transaction worth Rs 250 and above, as the network looks to become self-sustaining.
According to a notification seen by NDTV Profit, ONDC will levy the fee, which is exclusive of taxes, for every transaction conducted through the ONDC network on where the total value exceeds Rs 250 after discounts and taxes. The fee will take effect from Jan. 1, 2025.
This fee will be paid by each seller network participant on the basis of the number of successful transactions. In case of financial services, on credit products, the lender will pay the fee. In insurance products, the insurance companies will pay, while for mutual fund products, the AMCs will pay up.
The platform fee has been branded as a "nominal ONDC network infrastructure development and services development fee."
"The fee will ensure ONDC can continue providing reliable infrastructure services to the network ecosystem, while adhering to its not-for-profit principles, and also make further investment into the ecosystem for sustained growth and innovation," it said in the notification.
In March, NDTV Profit had earlier reported that ONDC is set to introduce a marginal fee. Instead of a percentage-based structure, the fee has turned out to be a flat fee, as reported.
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