An activity of buying or selling of either products or services over the world of internet is called e-commerce. It is of greater help and advantageous in various ways like reduced cost, limited manpower, lack of physical contact, banned middle man or brokers, consumption of less time, easy mobility and the convenient timings. Everything in this universe has both advantages and disadvantages. It is in our hands how we are using them. Everything needs help, so these online trading also need assistance and research before one plunge into the action. In this modern world, the trading can be carried with the virtual currencies even that is very different from the fiat currencies. Click to read the advice and experience of the experts and the achievers that they have shared related to the virtual currencies too.
In terms of e-commerce, both the developed nation and the developing nation face problems and the obstacles in some way or another. Here are the problems that are being sorted down.
- In the case of developing nation, the internet connection is very high. The Internet Service Provider is also available at high costs.
- The paperwork of the requirements of the business is made compulsory in many of the countries.
- Lack of compatibility between domestic and international trade requirements.
- The credibility of the business party should be seen mandatorily. Only after the digital signing of the agreement between the parties is done, the business starts.
- Due to the inadequate level of privacy regarding the credit card, there are many transactions that are completed only with the traditional way of payment which does not fully come under the concept of e-commerce.
- Customer trust is affected to some extent due to the lack of physical overview of the products or the services. This prevents the customer to check the quality, color, and similar attributes.
- Logistics problems occur at a higher rate.
- In developing nations, the bandwidth of the net connection is very poorly served. So, during a transaction; if the net connection gets disconnected; then it is of great issue as where the particular transaction is being interrupted.
There are many suggestions available to overcome these obstacles in one’s online trading. The suggestions available are:
- Support from the government
- Affordable low tariffs for the people
- Creation of awareness about the safety and security
- Improved bandwidth for the internet connection