Time to build trust in e-Commerce

In order to enable e-Commerce to grow in India we need to know as to what is it that drives the transactions in a business and if it is trust how do we build it in the e-world. Many are of the view that its Lack of accountability that is causing a big hindrance in the way of e-Commerce transactions being taking up fully. In order to make people trust, there should be trust being build up in the electronic transactions.

There should be certain things to be taken care of just like convenience, accountability and the person’s confidence. These roles will be needed for e-Commerce transactions too. In fact in the e-marketplace the responsibility of building trust with the users becomes the utmost and vital criteria since the end user web transactions are incessantly rising irrespective of the B2B or B2C business line. To be perceived as trustworthy organizations need to communicate to its users clearly as to what security platform or measures are they using to ensure its users safety and security online.

Mobile Internet to further facilitate e-Commerce in India

Internet, Internet and its Internet everywhere. e-Commerce is also flourishing with respect to Internet. The scope of mobile internet comes from this fact that in India there are approx 30 million people who access the internet through cybercafés. And thus for such people internet doesn’t become a basic part of their lives since its just a medium for them to send mails or search for information in fact most of the time these people are disconnected from the internet. So here it is where the mobile internet can have a great scope i.e. it is such a device that is with the person all the time.

Especially with reference to the young clan where mobile first is the criteria it can be a great potential. Also there is some percentage that does not have access to the computer but do have mobile with them. Such a huge number to be connected through their mobiles could do wonders. Though definitely this revolution of mobile internet would take time to come or take over.

Another step ahead….Online tax filing

The Internet in India has really changed the face of India in terms of many services being done online today or now which were very pain staking in earlier times. Just like the other very much upcoming service there is e-filing or filing one’s taxes online. This is another major change catching up recently or something that has made the Indian consumers relieved.

There are now a couple of such portals providing the facility of filing the income tax returns online. But then again online security is and probably should be the top concern of consumers in today’s era since for filing tax returns one needs to provide many of his or her personal as well as financial details. And one can freely and openly provide his all financial and personal details only if proper security is being assured to them while online. With this we can reach to a conclusion that the need of the hour is online security and safety to be taken care of so that the Internet revolution can take on fully and flourish to its zenith in the country.

India and Internet

The evolvement of Internet in India is showing clear signs as its going to be a vital factor for all the communication with the world. Internet is now a word that has relevance to many of the Indians personal (not only related to work) life. The latest revolution being the Online Tax filing in India since paying Income tax is not a choice for anyone or everyone but a mandate requirement for every individual earning income. Just like our any other daily life chores it has become a part of our daily life in some or the other way. The only or major one of the limiting factor for growth of Internet in India is in the rustic areas where there is not much familiarity with English. It’s so here because of the 22 around different languages being spoken here because of which in the areas dominant by local dialect it arises a problem. The total base of internet users in India stands at 49.4 million currently out of which the percentage comprised by rustic areas is very low which needs to be focused upon.

Path ahead for e-Commerce in India

E-commerce is becoming the key to success. The internet usage has made the world really small and through the same business transactions are conducted globally at a faster pace. There is great scope for India as far as internet banking is concerned since the past records in regard to Internet usage in India have been quite optimistic. India’s strength also lies in its untapped market which is the real potential. As we know that with the help of large pool of English speaking and computer literate professionals, competitive telecommunication prices etc India has a great scope for the IT enabled services and is ahead of many countries in being the Hub for IT.

Under e-Commerce the Online Banking services segment in India is on an all time high. Even the Government of India has taken steps over past few years to create an environment which is important for the growth of e-Commerce in India. India is on the threshold of emerging as a key player in global electronic commerce especially in terms of third largest reservoir of technical human resource.

Online banking scenario in India

All the banks and financial Institutions in India are in the process of making their services web-enabled so that the online banking services could be provided to its customers and they can at the other end reap full benefits out of it. This Internet banking arena has also increased the competition among the Banks and in turn has compelled banks to focus more on its customers need and requirements and adoption of upcoming technology on the Internet. It’s being so to keep all the Banks at the same pace. Though as per the global standards India has still to go a long way but gone are those days of traditional banking. Internet banking evolved in the mid-1990s when Internet and the World Wide Web began to catch on. At present Private and Multinational Banks are doing good by implementing Internet Banking in India. Though nationalized banks have not yet implemented Internet Banking system successfully in comparison to the private ones and that is why in such Banks we find mix of both online and manual process.

Loopholes in e-Commerce in India

No second thought to it that e-Commerce is blooming in India but there are still many bottlenecks that are hindering its growth. Some of the major issues are related to safety and security online, infrastructure requirements, credit card and debit card payment, physical delivery of goods etc. All the growth driving factors such as increasing internet user base, young clan being more internet savvy etc would not bring the desired results until and unless these things are taken care of. Online travel retail is boosting e-Commerce in India majorly because of main three reasons that is convenience, very low touch & feel and the good price concessions. Apart from this where touch and feel is required people do not have much interest in spending a big chunk on them. Another major requirement is to have required infrastructure for the proper physical transfer of goods. Then again not to forget is the online security issue and that is why many Indians opt for cash on delivery as the option for the payment. All these loopholes need to be taken care of.