CREDIBILITY IN CASH ON DELIVERY SYSTEM.

Byline: KHALIL AHMED

A disgruntled account/credit card holder of one of the leading banks disclosed that he received a call from his bank inquiring whether he had made three consecutive transactions consecutively amounting to around Rs 80,000/-. To his utter dismay prior to going to bed for a good night sleep, he told the bank employee that he had not made any transaction and was oblivious to what was being communicated to him. The account holder asked the bank employee to immediately block his credit card so that no more transactions were done. However, the employee of the bank expressed his inability and asked the account holder to write to the bank vis-a!-vis this. The account holder felt helpless and determined forthwith to stop using any credit cards in the future and expressed his dismay regarding the red-tapism in the era of technology.

One wonders whether all e-commerce transactions are safe and secure in Pakistan. There are millions of educated individuals with robust purchasing power not willing to use internet-banking or purchase anything online for the fear of insecurity. Someone has to come up and bring about awareness convincing these individuals about safety of their transactions and the ease of the entire process. One must admit that the number of credit card holders has decreased over the last decade in Pakistan for numerous reasons. Debit cards are being preferred to the credit cards, however, the insecurity of transactions seems to be overwhelming since millions are not convinced to resort to e-commerce to the detriment of the economic growth in Pakistan. One very gigantic conundrum in Pakistan is the credibility of data owing to poor or no use of technology. Pakistan in vain has been making efforts for last couple of decades to document the economy. Documentation of economy is viable only through technology.

The Federal Cabinet eventually approved the much-awaited first-ever ecommerce policy framework last year paving the way for the documentation of the economy. This would be hugely beneficial if implemented in letter and spirit.

Digital connectivity could result in credibility of data, documentation of economy and soaring revenue for the development of Pakistan at rapid pace. The world did it two decades ago, however, we havebeen laggards. Well, it is never too late. E-commerce transactions in Pakistan need to catch up with the rest of the world. We even today do...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT