E-commerce is becoming a familiar form of shopping for consumers, but currently, the situation of consumers receiving poor quality goods and sellers being "bombed" is still common. Faced with this situation, the Center for Information Technology and Digital Technology (under the Department of E-commerce and Digital Economy, Ministry of Industry and Trade ) is researching and implementing secure payment solutions, aiming to protect both consumers and sellers when participating in e-commerce transactions, while promoting cash consumption according to the Government's policy.
In fact, almost all buyers through e-commerce have encountered risks such as: Buying fake or poor quality goods; goods not as advertised, wrong amount transferred via bank account; buyers have paid electronically but have not received the goods from the store, business enterprise... On the other hand, due to the competitiveness of e-commerce platforms as well as sellers, sellers are forced to allow buyers to pay upon receipt of goods (COD). This causes sellers through e-commerce platforms to also encounter many risks, the most typical of which is the situation of "bombing" goods, "exploding" goods. There are still some cases where buyers order based on temporary emotions and then no longer want to own the goods; or the delivery party cannot contact the buyer... This not only causes damage to the seller but also leads to waste in transportation and warehousing costs, negatively affecting the business situation. According to TikTok Shop statistics, the rate of "exploding" and "bombing" goods of stores on TikTok Shop is currently from 20% to 30% depending on the product category.
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| Secured payment solutions are expected to promote cashless payments in e-commerce. |
Implementing the national e-commerce development plan for the 2021-2025 period, the Ministry of Industry and Trade aims to reach 50% of cashless payments in e-commerce. To build consumer trust and increase business reputation in e-commerce, while promoting cashless payments, the Center for Information Technology and Digital Technology is researching and implementing a secured payment system in e-commerce according to the commercial arbitration solution (Escrow). Accordingly, Escrow, with its intermediary mechanism, will protect the buyer's prepaid money and only pay the seller after the product has been confirmed to be of acceptable quality by the buyer. The Department of E-commerce and Digital Economy also said that in Vietnam, some e-wallets such as Ngan Luong and Bao Kim have also provided temporary payment services with a model similar to Escrow. Buyers and sellers have a default period of 7 days to fulfill contracts (such as transferring and receiving goods, etc.). During the holding period, the money is only transferred when the buyer clicks the approve button - agreeing to transfer money to the seller. The Escrow solution will be launched in the near future, expected to increase the trust of both buyers and sellers, especially limiting the situation of buying online but paying directly.
Source: https://www.qdnd.vn/kinh-te/cac-van-de/gia-tang-niem-tin-cua-nguoi-tieu-dung-trong-thuong-mai-dien-tu-764569
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