There will be a system to ensure transactions in e-commerce
Challenge of combat against fake goods in e-commerce environment | |
Cashless payments in e-commerce to account for 50% by 2025 |
There are many solutions to protect consumer rights in the electronic environment. Photo: TL |
According to the Bureau of E-Commerce and Digital Economy, currently, in addition to e-commerce models such as business-consumer (B2C), business-business (B2B), consumer-consumer ( C2C), the e-commerce market also has many new models such as Online - Offline (O2O), government - people, government - businesses (also known as G2C, G2B - online public administrative services).
Therefore, non-cash payments in transactions in Vietnam are increasing. However, the rate of non-cash payments in e-commerce, especially electronic payments through payment intermediaries or payment applications, is still low. In fact, payment transactions do not go through intermediary payment service providers such as payment transactions by bank transfer, sending cash through transaction counters, or sending money through post office accounts for a high proportion of non-cash payment transactions.
This poses potential risks for consumers during the transaction process, such as when goods/services do not meet requirements, the buyer may not receive a refund from the seller, and the consumer cannot complain or be protected in the above transactions.
The main reason is that consumers' shopping habits still use cash; Consumer confidence in electronic payment infrastructure supporting e-commerce is not high; Measures to protect consumers and sellers in non-cash payments are not uniform and consistent.
According to the Bureau of E-Commerce and Digital Economy, in Vietnam there is only a form of guaranteed payment (custodial payment) through users' e-wallet accounts or temporarily held by the e-commercial exchanges themselves.
Essentially, this transaction amount is transferred to the company's bank account providing e-wallet services or the e-commerce platform company. Implementing the National E-commerce Development Plan, the Ministry of Industry and Trade sets high goals for non-cash payments in e-commerce; specifically, non-cash payments in e-commerce will reach 50%. Of these, payments made through intermediary payment service providers will account for 80% by 2025.
To achieve the goal, many solutions have been and will be deployed, such as the national e-commerce payment system KeyPay; research and implementation of a guaranteed payment system in e-commerce according to the commercial arbitration plan (ESCROW) to protect both consumers and sellers when making non-cash payments in an e-commercial transaction.
To support parties involved in transactions using protected online payments, shortly, the Center for Informatics and Digital Technology is expected to launch a system to ensure transactions in e-commerce.
The system aims to protect consumers' rights in the electronic environment, protecting the interests of parties participating in online transactions, specifically increasing the number of electronic payments via Escrow, reducing COD rates, increasing reliability and promoting the increase of transactions; resolve disputes with a clear legal basis; protect the interests of both buyers and sellers...
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