Namma Yatri Launch In Delhi | NDTV Profit
#ONDC's Namma Yatri expands its operations in New Delhi.
CEO T Koshy, and #Juspay's Chief Growth Officer Shan MS talks about the app's zero commission model and one stop solution approach. #NammaYatri
Watch them in conversation with Rishabh Bhatnagar.
Read more: https://bit.ly/3vFTSWj
CEO T Koshy, and #Juspay's Chief Growth Officer Shan MS talks about the app's zero commission model and one stop solution approach. #NammaYatri
Watch them in conversation with Rishabh Bhatnagar.
Read more: https://bit.ly/3vFTSWj
Transcript
00:00 The open network for digital commerce backed Namayatri is now in Delhi.
00:04 They were in Bangalore, Mysore, Kolkata and now Delhi has become the 7th city of operations now.
00:10 Overall Namayatri across the country has recorded about a lakh daily rides almost every day now.
00:18 It started off in Kochi in 2020 and it has about 1.7 lakh drivers across these cities now.
00:26 In Delhi it will continue to operate on a zero commission model.
00:30 Now what that means is that all the revenue that they earn will be purely through a subscription fee
00:35 that they will charge from drivers.
00:37 That subscription fee will be about 2.5 rupees per day for unlimited rides or about 3.5 rupees per trip.
00:46 So that's the only way that they will sustain.
00:49 That's different from what Uber and Ola do. They charge about 15 to 20% commissions on each ride that is taken through their app.
00:57 So Namayatri is now in Delhi. They will move to integrate with other transportation services with the DTC, with the DMRC as we go ahead.
01:05 We also spoke to T. Koshi, the CEO of ONDC to understand a bit more about Namayatri.
01:13 I am really excited today because Delhi is the capital.
01:16 And as you know that in the last one year that we have been going, you know, expanding ourselves across various cities.
01:23 We are waiting for the day to start in the Rajdhani and we are excited.
01:26 And as you know, open network covers everything.
01:29 This is something that gives the power back to the brand owner, back to the merchant, back to the driver and to the consumer
01:35 without anybody in between trying to control their life.
01:38 And that way we believe that this is going to completely transform.
01:42 So if I just touch on the mobility, you know, my ultimate dream, what we are trying to do is if I am going, let's say you can see that I'm going from here to Trivandrum.
01:51 I should be able to in one app, I should be able to take an auto to the metro, from metro to the airport, airport a ticket to my Trivandrum, there in taxi to reach home.
02:04 Everything should be one card. Why should I go into some empty number of thing and who have stranglehold on each component?
02:10 Here I should be able to use the one that I like.
02:12 And similarly, each of the service provider, whether it's an auto, he should be just registering himself in the net and he should be visible to anybody, not somebody who is controlled by the platform.
02:22 So this is a fundamental paradigm shift.
02:25 And we are very excited that today it is kicked off.
02:28 It's just the beginning. What you're seeing is a tip of the iceberg.
02:30 We are just the beginning.
02:32 It's a zero commission model that you've entered with in almost all these cities with Namma Yatri.
02:37 How are you keeping the lights on at the JustPay office?
02:40 Thanks. So it's a Namma Yatri differs from most of the other apps.
02:45 One, it is a community first app.
02:48 We definitely stand for empowering drivers while improving the convenience for the customers.
02:53 The drivers will have to earn more and customers have to pay less.
02:56 That is possible by relentless optimization.
02:59 India is a country we know that population scale technologies can significantly reduce costs.
03:05 UPA is a great example for all of us.
03:07 From Jan 2023 to December 2023, our per trip cost has gone down by more than 95 percent.
03:16 We used to incur a cost of 219 per trip.
03:19 As we speak, the cost is 8.6.
03:22 It's a fully loaded cost, all costs loaded.
03:25 We also feel there is a lot more scope for further reducing the cost.
03:29 Pure variable costs are around 3 to 4 rupees per trip and our current subscription fee, we charge around 3.5 rupees per trip.
03:39 We want to ensure that this is built with efficiency, reliability and low cost in mind.
03:45 We feel that in long term, we will be further able to reduce the cost.
03:49 One, through tech innovation.
03:51 Second, through community participation and open network.
03:53 And third, through the kind of scale that we are building.
03:57 A city like Bangalore, in the next 3 to 6 months, we strongly feel that it can become operationally profitable.
04:03 [Music]