e-Commerce - the in thing

09/10/2018

E-commerce is becoming popular in Bangladesh. With better access, coverage and an ever-growing internet population, the prospect for e-Commerce is bright. There are also challenges. A discussion on the pros and cons of e-commerce in Bangladesh is a timely debate.

What is e-Commerce? e-Commerce is more than just purchasing and offering things over the Internet. E-commerce is a wider term encompassing electronic trade of business; and information between computers of two or more organizations. The innovative objective of e-Commerce is to coordinate businesses and government agencies, with the capability to correspond with each other through any computer platform.
A question arises if the proliferation and growth e-commerce organizations is an air pocket or the tip of the iceberg. Ever since private Internet Service Providers (ISP) propelled Internet in Bangladesh, the infrastructural improvement in the segment of telecom has helped spread the Internet to get organized around the country. The expanding number of users of Internet makes more chances of e-Commerce getting a strong foot hold. Around 100 million individuals use mobile services and 15 or 20 percent individuals access versatile online Banking Services. According to Bangladesh Bank, around 1 million versatile clients access the mobile banking benefits. Over 100 crore transactions are made through mobile banking accounts.

Digging a bit deeper gives more insight to e-Commerce's future prospect and its impacts on our local economy as well as the e-Commerce stakeholders. The Government of Bangladesh has taken initiatives with a vision towards “Digital Bangladesh” to redefine our internet technology and broadband network. ISPs that offer broadband connections are presently needed to give no less than 1 Mbps.