E-commerce – Over a Trillion Dollar Market and Growing
Over the past three years, e-commerce has grown by leaps and bounds globally, thanks to increasing internet penetration in Asia and the emergence of non-banking players in the payment industry. Retailers around the globe are venturing into online retail, as an increasing number of consumers in both developed and emerging markets flock to virtual marketplaces to buy products.
Today, one-third of the world’s population has access to the Internet and approximately 1 billion people every year are expected to shop online for products such as clothes, electronics, books, fashion accessories, and travel packages. According to US-based market research company eMarketer, global B2C e-commerce revenue is likely to grow at a CAGR of 16% between 2014 and 2017.
According to reports published by International Monetary Fund (IMF) and Central Statistics Office (CSO), India is among the fastest growing economies of the world. Among several factors, a conscious patronization of online commerce, and an emergence of retail as a dominant market segment have contributed to the unprecedented growth of eCommerce in India. For the financial year 2016-17, eCommerce sales reached the US $16 billion with a projection of a seven fold growth within the next two fiscals as estimated by Morgan Stanley. By 2020 online commerce sales is expected to cross $120 billion.
Payment Solutions, especially for eCommerce industry has great potential and plays an integral role in reaching the main microeconomic goals which regard economic growth, employment, sustainable economic and social development.
Today a majority of consumers are facing difficulties regarding payment methods. Money transfer charges are increasing and transaction times are longer than before. A new payment system would allow firms, individuals, governments and other economic agents to transfer money on a daily basis without such inconveniences
Therefore, ZuperCoin is building a different payment system. It is designed to facilitate on-demand payment. It is secure, has lower fees than traditional payment methods, faster access with no limitation of the amount used to buy any eCommerce Product or Service.
Through ZuperCoin wallet, consumers will use multiple devices, and can have an intuitive and seamless experience across all applications. ZuperCoin engineers intend to focus on a mobile-first and user-centric design strategy to drive consumer preference for their payment products.
The launch of the ZuperCoin will create a revolution in payment Solutions for the eCommerce industry
Original article and pictures take www.zupercoin.com site
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