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The Problems, Prospects and Opportunities of E-Commerce in Bangladesh

In: Business and Management

Submitted By Hero2059
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Pages 7
The problems, prospects and opportunities of E-Commerce in Bangladesh

Introduction
As a newly developing business approach, e-commerce initiatives in Bangladesh are facing many constraints. From legal issues to technological complexities, problems that are hindering to forward march of the e-commerce initiatives are large in numbers. To cope up with the pace of today’s business trends it is very much necessary to address those problems as soon as possible. Otherwise alongside with the new business opportunities that might have stemmed from the usage of the technology, the growth of traditional business activities will fall behind than that of the rest of the world.

The problems
Miss management: In this digital age technology based services means nonstop service delivery round the clock. But the service providers whose services are necessary to run an ecommerce outlet successfully fail to comply with the requirement of nonstop service delivery. This instability causes customers to think that online based services are not yet reliable. Sudden failure of internet service and inexistence of any backup connection in a shop means customers will not be able pay using their card. Again sudden POS terminal failure and the inexistence of replacing device will also create the same problem. Such mismanagement hinders the growing confidence on ecommerce.
One of the prominent banks in Bangladesh was seriously accused of miss management after account holders lost money from their accounts. It was discovered that the bank did not offer any security options like sending verification code to authorize transactions. Even transaction completion messages are some time not sent to the account holders mobile phone. Such disastrous miss managements are very much against the interest of ecommerce in Bangladesh.

Security issues: Hacking is a global phenomenon. In finance...

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