What is wrong with E-commerce?
When people hear about someone launching a new online marketplace, they usually think “Why in the world would somebody do that?” Actually, there are multiple reasons which aren’t that obvious as one may think.
When you read about the barriers for the growth of ecom global penetration you hear traditional things all connected with bad online shopping experience and fears of bad delivery services. This is just how the marketing research is done, but can now anything about people hundreds of millions of people in the developing markets that do not participate in those polls and surveys. Same goes for small businesses in those markets.
Without having access to traditional banking services appr. 200 million businesses in the world can rely only cash and most of the time cash limits your trading possibilities to the local level. Imagine a flower shop that starts selling online easily finding consumers in any part of the city. In some places like India getting a traditional banking service for your business would be a rip-off which will never let you earn your money. That is why lots of people in India and markets alike turn to micro finance services which lack transparency and often result in a person financial losses as well.
Besides that, current landscape of marketplaces is largely dominated by several large corporation-level players and several local companies. Trading there can be a tough time for a small or micro level business, as they will charge with 8% commission in average and with fees running as high as 45% for some product categories. Thankfully, growing penetration of the Internet and development of new decentralized payment systems will allow any business to get online and start selling to any part of the world.
Bazista is a company which aims to create new type of online marketplace with an unlimited access to global e-commerce process available to any person in the world. Much lower operational and time costs, secure and transparent transactions, no conversion commissions when trading across borders and last but not least no bank account needed. However, platform will allow users to convert their revenue into fiat money if needed.
Bazista is set to launch next year in India, which is being said to become 2nd largest e-com market and at the same time accounts for 20% of the worlds unbanked population.
