Hmmm… thoughtful responses. Permit me to say what is unfolding on this thread is a typical consumer’s headache.
Every form, size and type of business is coming online now. How do they get paid when consumers don’t have deep trust in online payment?
Had a chat with a bulk SMS retailer last week. He has “buy now” button on his platform. Yet, his clients would place order, transfer to his bank account and call him to confirm payment.
Ecommerce can’t witness rapid growth we all anticipate and need this way.
My perspective here is the marriage between technology and marketing. After building a great product on a well-secured platform, how do you earn users’ trust so they can buy, keep buying and refer others to buy?
NOTE: as big as Jumia is, buyers prefer to pay on delivery. A Jumia can survive on this approach, but a startup can barely grow on this due to weak financial muscle.
There is fear of fraud. YES. Fraud happens. YES. Consumers are aware of fraud. YES. Unless consumers pay more online securely, many Internet based businesses will struggle.
Where do we go from here?