What is E-Commerce? When anyone listens to the word E-Commerce then he/ She thing about it that it the Selling and purchasing on Electronic media Like the Internet. But Electronic commerce has completed the transition from a utopian vision to a veritable economic reality. Unsurprisingly, the rapid growth of e-commerce has encouraged a corresponding rise in proposals for its regulation.
While there is a broad consensus that electronic commerce should not be restricted by over-regulation, there is also a general agreement that traditional paper-based legislation does not provide answers to questions raised in an electronic environment. Creating an effective infrastructure for securing e-commerce requires a concerted and comprehensive development of several elements, including laws, policies, industry self-regulation, technical standards, and law enforcement.
Future of E-Commerce in Pakistan
Together these elements can provide a positive environment and infrastructure to support the legal growth of e-commerce with reduced threats. Traditional commerce is heavily based on documents, which must personally be signed to develop legal relevance and legal commitment. With the ongoing shift from traditional commerce to electronic commerce, traditional documents become electronic or digital documents. These electronic or digital documents require to be signed by a substitute for the personal signature.
The Principles attempt to cut a middle ground between the divergent approaches. International Consensus Principles prepared by Internet Law and Policy Forum to create a predictable legal environment include.
- Removing legal barriers to electronic authentication.
- Respecting freedom of contract and parties’ ability to set provisions by agreement.
- Making laws governing electronic authentication consistent across jurisdictions.
- Avoiding discrimination and erection of non-tariff barriers.
- Allowing for use of current or future means of electronic authentication.
- Promoting market-driven standards.
When the government of Pakistan was started an information technology and E-Commerce initiative in early 2000, the banks were expected to lead the way into E-Commerce. Although, the banking sector is the leading spender on information communications technology, the most progress in e-commerce has been in e-government. Almost all branches of commercial banks in urban areas are now computerized.
Many banks offer online funds transfers from overseas and within the country, buying mobile phones and internet cards through your online wallet and other small-scale online transactions. Almost all banks now offer mobile-phone banking, where customers can pay utility bills using their mobile phones.
User’s Fears and Expectations:
- 65% of the people in Pakistan say they use the internet at least once a week.
- 98% of the people in Pakistan quoted that they are not satisfied with the internet speed.
- 2% of the people in Pakistan say they shopped online and 99% of the 2% people said they shopped online once.
- 99% of the online shoppers in Pakistan say they feel insecure doing transactions online.
- 100% of the online shoppers in Pakistan said they are satisfied with the shipment.
- 100% of the online shoppers said it’s convenient to buy things online.
But E-Commerce is growing our business. it’s bright brings everyone to each other for the Business relationships. It’s made the business to very easier for the All over the world. It is conducting business online, including buying and selling products with credit card or digital cash, by transfer of data between different companies using networks, such as the Internet.
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