Friday, October 25, 2019, 10:43 AM
Visa cardholders will soon be able to complete payments on select e-commerce sites without having to wait for a one-time password (OTP). The payments company will activate ‘Visa Safe Click’ (VSC) across leading online merchants for transactions below Rs 2,000 in value. VSC is a lightweight, secure software plug-in for mobile app-based e-commerce merchants. For transactions up to Rs 2,000, shoppers don’t need an OTP as the solution uses cryptographic validation along with Visa’s global risk engine to authenticate each transaction. The RBI had relaxed norms for transactions below Rs 2,000 in 2016, allowing the payment networks to do the second factor authentication without using OTP. VSC is designed as a frictionless payment solution for e-commerce, which is built exclusively for the Indian market.
Wednesday, October 16, 2019, 6:06 PM
How to return purchases made online? Online shopping is growing each day in India. Be it buying clothes, furniture, grocery or electronic items, we ...
Wednesday, October 9, 2019, 10:14 AM
With large variety in product categories and prices, reviews and ratings by past buyers often come in handy while buying online, but consumers continue to remain wary of such them. The veracity of reviews and ratings posted on products are sometimes questionable and are impacted by huge positive bias, consumers said in a survey of over 33,000 participants by community platform LocalCircles. 62% of consumers said product ratings carry a positive bias (overestimate the good) on most products, while 57% said the reviews posted for items are often too positive. Around one-fifth felt product ratings on e-commerce platforms are often too harsh, and carry a negative bias. Further, over 60% of consumers faced a scenario where a product with a high rating on the site did not meet the expectations of buyers.
Thursday, September 19, 2019, 9:46 AM
Indian e-commerce apps lose almost half (45%) of users within first four weeks of install — with users either uninstalling the app or going dormant — making investments into e-commerce platforms a leaking bucket. Globally, 42% of those who install shopping apps quit in a month’s time. The fiercely competitive sector is witnessing high churn and reduced engagement, shows data shared with TOI by marketing analytics firm CleverTap. With almost 80% of online shopping transactions happening through mobile apps, engaging app users will be key differentiators for e-commerce players this festive season. Further, next billion users are also expected to be exposed to e-retail through mobile devices. App stickiness for e-commerce is low with only 14 in 100 users continuing to be active at the end of the first week of app install, data shows.
Wednesday, August 28, 2019, 10:09 AM
To protect consumer interest, the government said the guidelines drafted for e-commerce firms will be made mandatory under the new Consumer Protection Act and stringent action against violators will be taken by a regulatory authority. The consumer affairs ministry has decided to frame the rules to implement the Consumer Protection Act by December and asked stakeholders to submit their views by September 15. Meanwhile, the ministry has also sought views on the draft guidelines on e-commerce by the same date. "The draft guidelines on e-commerce will be made part of the rules under the new consumer protection law. Once included under rules, the guidelines become mandatory," Consumer Affairs Minister Ram Vilas Paswan told reporters.
Wednesday, August 7, 2019, 11:20 AM
The Consumer Protection Bill 2019, which was passed by Parliament on Tuesday, paves the way for a regulator that could haul up e-commerce companies such as Amazon and Walmart-owned Flipkart if they influence pricing, unfairly promote products or misrepresent the quality of goods and services sold on their platforms. The regulator, which will be called Central Consumer Protection Authority (CCPA), will not only protect the rights of consumers purchasing goods and services both online and offline, but also have the power to initiate class action against companies including enforcing recalls, refunds and returns.
Wednesday, July 31, 2019, 5:40 PM
The Mohali Consumer Forum directed an e-commerce website, a third-party seller and a courier firm to pay Rs 1 lakh to a 36-year-old civil engineer from Mohali, who received five detergent cakes, while he had placed an order for an Apple iPhone 7 plus. The complainant, Parveen Kumar Sharma, stated that he purchased an Apple iPhone 7 plus through Snapdeal and placed the order for delivery on March 4, 2017. He was notified by Snapdeal that the iPhone would be delivered before March 12. The packet, dispatched through Snapdeal, along with its seller, Pious Fashion, was sent through Blue Dart courier firm on March 6, 2017, at Sharma’s address. In his complaint, Sharma further stated he gave the address of a guest accommodation provided to him by his company and the package was received by its caretaker, Netra, as he was not there at the time of delivery. When Sharma opened the package, he found five detergent cakes of Rim bar instead of the iPhone.
Friday, July 19, 2019, 6:25 PM
E-commerce platform ShopClues has laid off about 200 employees as it struggles to rein in costs in the hyper-competitive online shopping segment in India. According to sources, ShopClues has sacked about 200 people as its efforts to find a buyer failed. When contacted, a ShopClues spokesperson said the company has been steadily reducing its workforce mostly in operating functions as it leverages gains from technology. "We have always been an employee-first company and have ensured that impacted employees, if any, are outplaced proactively," it added.
Wednesday, July 17, 2019, 11:04 AM
Homegrown e-commerce marketplace, Snapdeal, has significantly cut its losses by 71 percent to Rs 186 crores in the financial year 2018-19, as compared to losses of Rs 611 crore it posted in the previous fiscal, the company said in a regulatory filing. As per regulatory documents filed by Snapdeal, its consolidated revenues grew to Rs 925.3 cr in 2018-19 as compared to Rs 535.9 cr in 2017-18, marking a sharp increase of nearly 73% in a 12-month period, the company said. The revenue from operations saw a year-on-year jump of 87% to Rs 813.8 cr from Rs 436.1 cr.
Monday, July 8, 2019, 6:47 PM
Beware of Fake Online Shopping Portals Online shopping has shown rapid growth in the last few years. The number of people who shop online is risin ...