After the bad days of dot-com burst, the interest and more so implementation of e-commerce is now growing. During the last 3 years, the number of B2B implementations using Web services increased, but it is only in the last 6 months that many innovative B2C implementations have started to happen.
This week Mr.Anto Peter of Softview invited me to present for an hour in their website design workshop, which happened today. My topic was on “E-Commerce” where I covered on various Internet/E-Commerce Myths and Realities, payment mechanisms with respect to India.
It is interesting to note about one of India’s successful ecommerce sites. It is none other than Indian Railways’ ticket booking service at www.irctc.co.in which sells over One Hundred Thousand Tickets every day, totalling a turnover of Rs.102 crores per year.
When it comes to usage online there is a marked difference between the west and India. In India, the Credit Card penetration is very low, Debit Cards are growing slowly in popularity only now. Many online shopping sites in the country have adopted successfully COD (Cash On Delivery) as a payment mechanism. Though we expect COD to have high failure rates (people declining the purchase), the experience so far has been good with many of the merchants, with failure rate in the order 1% and less.