Plotch.ai, one of the pioneers of AI-based ONDC rails infrastructure solutions, has reached a performance milestone of 10 million transactions. Plotch.ai was founded in 2022 by Craftsvilla founder Manoj Gupta and his wife Monica Gupta. It focuses on the ONDC network, providing technology services to buyers and sellers.
Image Source: Plotch.ai
ONDC and Transaction Volume
ONDC stands for Open Network for Digital Commerce and is an initiative of the Indian government aiming to build a single network for digital commerce. The purpose is to harmonize the relationships between buyers, sellers, and service providers. Plotch.ai has a central function in this ecosystem as the backbone supporting ONDC transactions.
Plotch.ai is funded by venture capital and private equity investors including Antler India and Venture Catalysts. Plotch. ai caters to many industry leaders such as Snapdeal, Ola, Meesho, Jagran Media Group, Bluestar, etc. In the past two years, Plotch.ai has also experienced tremendous growth in its TPS increasing by a factor of 1000x. Its technology platform has facilitated approximately 30% of all retail category transactions in the ONDC network.
The CEO of Plotch.ai commented, “As pioneers in ONDC digital infrastructure since 2022, we aim for our next milestone of 100 million cumulative transactions through our network. Our north star metric is the number of transactions, and we anticipate reaching 1 billion transactions per month by the end of this decade, given ONDC’s rapid scaling. Additionally, Plotch.ai is strengthening its AI infrastructure atop the ONDC framework through a key strategic partnership with Google Cloud.”
Quote Source: TECHIEXPERT
Collaboration with Google Cloud
Plotch.ai sets its sights on its new target of reaching 100 million cumulative transactions within its network. Using Vertex AI tools such as Gemini and Plotch.ai enhances its AI architecture based on the ONDC architecture. Even Mr Bikram Singh Bedi, Vice President & Country MD at Google Cloud India underlines that collaboration is critical for building the infrastructure for India’s rapidly growing digital commerce.
The Vice President & Country MD at Google Cloud India, Mr Bikram Singh Bedi said, “We are excited to have collaborated with Plotch.ai and enabled them to achieve this milestone. With digital commerce scaling rapidly in India, we continue to work with them on scaling their infrastructure using cutting-edge solutions from Google Cloud.”
Quote Source: TECHIEXPERT
Plotch.ai’s promise of security in the transactions
Plotch.ai places a lot of emphasis on strong security features to ensure that transactions that occur within the ONDC network are secure. Any information exchanged between users, merchants, and the Plotch.ai platform is stored encrypted by industry standards (TLS/SSL).
Plotch.ai uses rigorous methods of authentication. Before using the platform, users and merchants are required to confirm their identities using a multi-factor authentication mechanism. The APIs used for the transaction are developed to support security in their execution. It adheres to best practices such as input validation, rate limiting, and access control.
Plotch.ai incorporates artificial intelligence especially machine learning algorithms to recognize behaviors and fraud. Abnormal behavior raises suspicion for additional scrutiny. Personal data is treated under the requirements of data protection legislation (including the General Data Protection Regulation). Plotch.ai makes certain that PII is secured and processed properly. The platform is audited for security and vulnerabilities consistently. Every transaction that takes place within the ONDC network is recorded in an immutable blockchain ledger. This makes it secure and immune to any form of alteration by other parties.
Future Prospects
According to the growth trends, Plotch.ai expects three billion transactions per quarter in the next three years, and about 750 million of these transactions are conducted through their solutions. Although Food, Grocery, and Fashion account for the largest retail orders on ONDC, other segments such as Home and Electronics are likely to grow rapidly.
The CEO of ONDC, Mr. T. Koshy congratulated Plotch.ai and said, “Plotch.ai is an important technology enabler in the ONDC ecosystem and has been instrumental in accelerating the journey of numerous network participants. We believe a healthy ecosystem of technology enablers will further accelerate the growth and innovation potential of the ONDC Network.”
Quote Source: TECHIEXPERT
Conclusion
Plotch.ai has shown its dedication to reshaping digital commerce in India through the initiation of using ONDC transactions via AI. As the network changes Plotch.ai continues to play a critical role in determining the future of transactions that occur through the Internet.
