Mystore® Empowers Brands and Local Retailers to Beat the Quick Commerce Blues with Its Dealer-Powered Marketplace Solution
PRNewswire
Gurugram (Haryana) [India], April 29: Mystore®, India's first ONDC-connected marketplace, has unveiled a powerful upgrade to help enterprise brands and their local dealer networks thrive in the booming quick commerce space.
With the launch of its Dealer-Powered Quick Commerce Solution, Mystore offers a game-changing, low-investment, high-impact approach to capturing hyperlocal demand, without the need to burn millions on complex infrastructure or technology.
Built on the proven strength of StoreHippo's Multi-Vendor Solutions and proprietary Multistore® technology, Mystore's new model empowers enterprises to launch hyperlocal quick commerce operations in days rather than months. The solution brings agility, affordability, and unmatched speed-to-market, which is perfectly tailored for India's diverse and dynamic markets.
Bringing Local Retailers to the Digital Frontline
At the heart of Mystore's Q-Commerce innovation is a strong commitment to empower local retailers and dealers. Enterprises across sectors -- Automotive, FMCG, AgriTech, Electronics, Fashion, and B2B -- can now transform their dealer and distributor networks into a quick commerce powerhouse.
This new approach not only accelerates deliveries and enhances localised service but also builds deeper brand trust, drives higher dealer participation, and creates sustainable hyperlocal ecosystems where brands and their partners grow together.
Here's how enterprises can transform their business with Mystore's Dealer-Powered Quick Commerce Solution:
- Seamless Onboarding and Management: Quickly onboard hundreds of dealers with real-time visibility, performance tracking, and compliance controls.
- Centralised Master Catalogue: Maintain brand consistency while allowing hyperlocal customisations.
- Integrated Hyperlocal Delivery: Enable faster deliveries with intelligent order routing, intercity logistics, and automated scheduling.
- Self-Service Dealer Dashboards: Equip dealers with tools to manage inventory, fulfil orders, and track performance independently.
- Automated Dealer Payouts: Ensures swift and transparent financial settlements directly to dealer accounts.
- Inbuilt Marketing Tools: Help dealers drive online and offline sales through localised promotions.
- Effortless ERP/DMS Integration: Connect existing backend systems for a smooth, unified operation across the network.
- AI-Driven Ecommerce Tools: Enhance product discovery, boost search precision, and personalise buyer journeys at scale.
Highlighting the transformational impact, Mr. Rajiv Kumar Aggarwal, CEO and Founder of Mystore, shared:
"Quick commerce in India is exploding, with a 280% GMV surge and 75-100% Y-o-Y growth projections. Mystore's Dealer-Powered Quick Commerce Solution offers a ready-to-launch, ONDC-compliant ecosystem that helps brands skip the burn and build an inclusive, decentralised, and sustainable quick commerce brand faster.
Built in Bharat, for Bharat, our fully branded and customisable platform digitises dealer networks, unlocks hyperlocal growth, fosters local entrepreneurship, and strengthens grassroots participation in digital commerce."
Mystore's bold new model doesn't just help enterprises tap into India's quick commerce gold rush, it ensures that local retailers, dealers and entrepreneurs are at the heart of this growth story.
About Mystore
Mystore® is an ONDC-connected marketplace that offers an unparalleled Ecommerce Ecosystem, enabling Enterprises and SMEs to leverage the ONDC network to accelerate their growth. Mystore specialises in setting up dealer-network-based Quick Commerce Marketplaces for brands in record time. With its AI-enabled ecommerce solutions for smart selling (using Mystore Seller App) and buying (through the Mystore Buyer App), Mystore empowers businesses to enhance discoverability, personalise experiences and drive growth through the ONDC Network. Mystore's cutting-edge ecommerce solutions are built on StoreHippo® - the leading enterprise ecommerce platform powering top enterprise brands across the globe for 10 years. Mystore enables hyperlocal businesses, SMEs, D2C brands, and Enterprises to join the ONDC Network ecosystem and explore the vast Indian markets. Proudly Made in Bharat and Built for Bharat, Mystore champions inclusivity by enabling regional sellers, local businesses, and digitally underserved communities to participate meaningfully in the Indian ecommerce ecosystem. Built on next-gen technology, PCI-DSS, SOC2 and ISO/IEC 27001 compliant, Mystore offers a level-playing field and 360-degree ecommerce solutions to businesses irrespective of their size and industry vertical.
About ONDC:
Incorporated on 31st December 2021, Open Network for Digital Commerce (ONDC), a Section 8 company, is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India to create a facilitative model that revolutionises digital commerce, giving greater thrust to penetration of retail e-commerce in India. ONDC is not an application, platform, intermediary, or software but a set of specifications designed to foster open, unbundled, and interoperable Open Networks.
Logo: https://mma.prnewswire.com/media/1913630/3693818/Mystore_Logo.jpg
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
19 hours ago
- Mint
The ONDC mutual fund pipeline has arrived. Will it take over the industry?
A small set of fintechs and ONDC (Open Network for Digital Commerce) have come up with an audacious plan to revolutionise investing in mutual funds for India's masses. The initial pipeline has been built out and is operational. The full plan, still at the discussion stage among fintechs, mutual funds and ONDC, is breathtaking in its scope since it would involve a change to Sebi's (Securities and Exchange Board of India) regulations on the distribution of mutual funds. At the heart of this plan is the system created by a fintech company called Cybrilla. Cybrilla, which has a license from Sebi as a Registrar and Transfer Agent, has built a system where the distributor and mutual fund can directly interface, bypassing legacy platforms. According to a fintech executive familiar with the matter, this brings down the cost per transaction from the current ₹2-7 range to just ₹0.75. The newer tech rails also give distributors more visibility on issues like transaction failures or delays. Eight mutual funds have entered the ONDC system, including the large players. A new route of investing in MFs 'Think of us as a digital branch of the mutual funds. We will be time-stamping the transactions at the back-end, and with the help of our APIs, which are now plugged into the ONDC ecosystem, we will enable the last-mile distributor to connect with mutual funds directly. We will use Aadhar-based KYC for onboarding new investors. The system will bring down costs, which will enable mutual funds to facilitate low-ticket systematic investment plans (SIPs)," said Anchal Jajodia, co-founder of Cybrilla. APIs are application programming interfaces, and KYC is know your read | What changed for India's mutual fund industry in FY25. Here are the top trends API enables two separate software programmes to talk to each other. 'ONDC, like UPI, creates a standardised language for all participants; what is technically called a protocol. As a result, different apps and platforms can work together smoothly, like speaking the same language in a digital marketplace," explains Hrushikesh Mehta, senior vice president - financial services, ONDC. ONDC was launched by the Department for Promotion of Industry and Internal Trade (DPIIT), which is under the commerce ministry, in 2022. The core idea behind launching ONDC was to decentralise the e-commerce segment, enabling local sellers—small business owners or small shop owners—to be discovered by buyers without the need to be on a platform. The Association of Mutual Funds in India (Amfi) in its Vision Paper 2025 has already envisioned 'scaling models like ONDC for greater impact". High-traffic kiosks staffed by trained advisors could explain mutual fund products in regional languages while offering real-time onboarding with mobile technology. Kirana shop owners could be equipped with digital tools to onboard customers, explain products and facilitate small-ticket SIPs, replicating the success of India's Common Service Centres for government services," Amfi said in its vision document. A new category of distributors 'The core proposition of ONDC is to make local kirana stores a point of acceptance for mutual fund investors," said Jajodia of Cybrilla. However, this may require relaxing the regulatory requirements for distributing mutual funds or limiting the products that such distributors can offer or both. Also read | How online bond platforms work—and why premature exits are tricky 'Local kirana store owners can be given an algo-based system that does the basic risk-profiling of the investor as required by the regulations and suggests a suitable product to the investor," said the fintech executive. 'There can be a new category of distributors," a mutual fund executive said and shared a proposal that has been put forth before the regulatory body to create a light regulation for such distributors, which does away with requirements such as passing the NISM VA. The National Institute of Securities Markets conducts the NISM VA exam, which is a requirement for getting an MF distributor licence.'Instead, there could be a short, bite-sized course on explaining mutual funds to these first-time distributors," the mutual fund executive said. Before a new set of ONDC-based distributors is created to widen the reach of mutual funds in small cities and towns, fintech platforms are taking the lead. For example, Bachatt has launched a low-ticket daily SIP product, which allows investors to save and invest a minimum of ₹51 in mutual funds read | You can now gift securities online. Here's how. 'We are currently offering only one fund—ICICI Ultra Short Term Fund. The cost-efficiency of ONDC helps to offer a low-ticket product. Later, we may even consider cross-selling credit and other products as investors would need different financial products at different life stages," said Anugrah Jain, co-founder and chief executive officer of Bachatt, which aims to give regulated savings products to small shopkeepers, food stall owners or mid-sized organised businessmen, through mutual funds. 'Over time, we plan to add more mutual fund products, but initially we want to offer simple debt products with the least risk," Jain added. According to Jain, Bachatt currently has 15,000 investors with an average daily SIP of ₹105. What mutual funds say 'The eventual goal is to even enable daily wage earners, small business owners, and local entrepreneurs to do low-cost mutual fund SIPs. Their cash flow cycles are very different from those of regular salaried-drawing investors in the cities. There is potential to widen the market size itself by taking mutual funds to the underserved," said Arpanarghya Saha, chief digital officer at Nippon India Mutual Fund. According to data from Amfi, 82% of mutual fund assets are concentrated in the top 30 cities (data as of 30 April 2025) or T30 cities, as these are known in the industry. The remaining 18% is in smaller cities and towns. 'We need to look at the customer lifetime value. As long as assets grow and investors stay invested—buying the product for the right reasons and aligned with the right goals—these assets will naturally increase, since they are all market-linked products. Investment returns will, by default, increase the asset size. Over time, economies of scale will help sustain these products. However, the associated costs may not seem feasible in the initial stages," said Boniface Noronha, senior vice-president & head-digital business, Axis Mutual Fund. Also read | How stock market investors and traders can use liquid ETFs to manage cash Some of the initial costs would include the folio creation charge, which is charged by the Registrar and Transfer Agent, and the KYC PAN check, which is charged by KYC registration agencies. These mutual funds have already onboarded on ONDC—Axis Mutual Fund, UTI Mutual Fund, HDFC Mutual Fund, Quant Mutual Fund, ICICI Mutual Fund, Aditya Birla Sun Life Mutual Fund, Nippon India Mutual Fund and 360One Mutual Fund. According to industry sources, more mutual funds are planning to be onboarded on ONDC. According to Ganesh Ram, managing director and chief executive officer of MF Utilities (MFU), established systems still have a significant role to play in deepening MF penetration. "MFU is a special vehicle created by mutual funds which absorbs the KYC cost and payment gateways charges, folio maintenance and non-financial transactions. Hence, focusing on transaction charge comparison may not be appropriate." He added that the prevailing payment gateway charges have also come down, which is approximately ₹2 for UPI mandate registration and ₹0.5-0.75 per transaction (per quarter). 'In all payment modes, it's only net banking that's relatively expensive," he said. An email query sent to BSE Star MF did not elicit any comment at the time of publishing. Ironing out teething issues Vishrant Suresh, founder of Asset Plus, a mutual fund platform for distributors, says ONDC's reliability should improve. 'We have been testing the ONDC pipeline with a few hundred transactions each month. Initially, the transaction rate failures were relatively high, as it was a new system. However, the framework is evolving, and we expect the reliability to reach industry norms very soon," he told Mint. Another mutual fund executive, who declined to be named, said that the initial momentum may be more due to a regulatory push than genuine interest from mutual funds. A number of fintechs have signed on, like Appreciate and Bachatt. It is likely that failure rates will go down as the system matures further and the cost savings are attractive to mutual funds. Legacy systems have their own issues. A large number of transaction failures on election results day on 4 June 2024 was a wake-up call to players relying on legacy rails. Investors trying to 'buy the election results dip' that day ended up getting the next day's NAV (net asset value) after the market rose due to transaction processing delays. The system just couldn't handle the load. However, the proposals advanced by the fintechs and AMCs associated with the ONDC rails go much further. Their next aim is payment gateways (aggregators), which take a cut out of each transaction ( ₹2-3 for SIP mandates). There are two possible solutions. The first one is to partner with a bank that wants to break out into this space, according to the first fintech executive. The second is more audacious. It envisages the use of RBI's Central Bank Digital Currency or CBDC. The CBDC is currently operational, and customers of large banks like HDFC Bank can download wallets and load them with e-rupee. However, usage at the retail level is minimal since a CBDC can only be transferred to another CBDC wallet. However, if the system is adopted by mutual funds and investors create wallets—the collection of money becomes drastically cheaper.
United News of India
a day ago
- United News of India
Lupin gets tentative approval from U.S. FDA for Oxcarbazepine ER Tablets
Hyderabad, June 7 (UNI) Global pharma major Lupin Limited (Lupin) announced on Saturday that it has received tentative approval from the United States Food and Drug Administration (U.S. FDA) for its Abbreviated New Drug Application for Oxcarbazepine Extended-Release (ER) Tablets, 150 mg, 300 mg, and 600 mg. This product would be manufactured at Lupin's Nagpur facility in India, the Pharma company said in a release. Oxcarbazepine ER Tablets, 150 mg, 300 mg, and 600 mg are bioequivalent to Oxtellar XR® ER Tablets, 150 mg, 300 mg, and 600 mg, of Supernus Pharmaceuticals, Inc., and are indicated for the treatment of partial-onset seizures in patients 6 years of age and older. Oxcarbazepine ER Tablets (RLD Oxtellar XR®) had estimated annual sales of USD 206 million in the U.S. (IQVIA MAT April 2025). UNI KNR BM
New Indian Express
2 days ago
- New Indian Express
MTC to replace 100 old small buses with new BSVI-compliant vehicles in Chennai
CHENNAI: With the private mini buses all set to start operations in Chennai from the second week of June, the Metropolitan Transport Corporation (MTC) has decided to replace 100 existing small buses with new ones. The state-run transport body, which caters to Chennai and its suburban regions, will procure 100 BSVI-compliant mini buses at an estimated cost of Rs 34 crore. Tenders were floated recently. These new vehicles will ply on existing routes and are intended to improve last-mile connectivity from metro stations and other key locations. T PrabhuShankar, managing director of MTC, told TNIE the current fleet of small buses has been in use for 11 years. 'These buses will be replaced with new ones. At this stage, we are not planning to expand the small bus fleet,' he said. To further strengthen last-mile connectivity, a joint study is under way with the Chennai Unified Metropolitan Transport Authority (CUMTA). 'Based on the study's findings, we will explore the possibility of expanding small bus services wherever necessary,' he added. Currently, MTC operates 146 small buses in Chennai, including 56 that connect interior areas with metro rail stations. Of these, 22 buses function exclusively as feeder services for the metro. The remaining small buses serve as general public transport, particularly in areas that cannot accommodate larger buses. According to regulations, standard MTC buses require a minimum road width of 40 feet. To provide connectivity in interior areas with narrower roads (20 to 30 feet wide), small buses were introduced in the city in 2013. At present, small buses serve eight metro stations: Koyambedu, CMBT, Thirumangalam, Alandur, Chennai Airport, Wimco Nagar, Guindy, and Little Mount. MTC officials noted work is ongoing to develop new feeder routes for metro stations in high-demand areas. 'CUMTA's study will also identify feeder routes for all metro stations. This initiative will benefit both MTC and metro rail services,' they said. Meanwhile, private mini buses approved by the state transport department will operate in seven zones within Chennai, as well as the Avadi and Tambaram city corporations. The designated route lengths will range between 10 and 20 kilometres.
