he pains of e-commerce consumers are growing daily just as brand reputation of e-commerce sites are dwindling. With losses by users, e-commerce platforms have continued to up the ante to protect consumers.
The growing e-commerce industry in Nigeria has led to an increase in online transactions in the country, despite that the trend has been inundated with reported cases of fraudulent activities, hacking of customers credit cards.
The case of Orekoya’s family whose children were kidnapped by an househelp sourced through a popular e-commerce site cannot be forgotten in a hurry. Yet, with many cases reported daily at various police formations acrosss the country, the value of e-commerce has grown monumentally.
A report from the Central Bank of Nigeria (CBN) in February showed that the value of Nigeria’s electronic e-payments rose from N18.1 trillion in 2012 to N35.1trillion last year.
With its convinience, ease of transaction and product choices offered, e-commerce sites have continued to attract more users. Many businessmen and others are tapping into the budding industry.
However, experts say some are still skeptical about using online platforms, especially, virtual malls.
“This is because they have either been badly burnt in some of their e-transactions or had heard stories from others concerning the situation,” says Badru Momoh, an e-commerce enthusiast.
Meanwhile, an analysis of e-payment frauds by the Nigeria Interbank Settlement System (NIBSS) last year showed that there was a significant rise of 78 per cent in the volume of fraudulent cases between 2013 and 2014. Therefore, it is understandable why there are fears among users and prospective users, despite the boom in the sector.
Recently, one of the victims of e-commerce fraud, Mr Okechukwu Chibuike, narrated how he almost lost his business because of an e-commerce transaction gone awry.
Chibuike started the business of buying and selling of cars as soon as he acquired enough capital to fund the venture offline. But later fell for a scam when he tried buying via an e-commerce site which he failed to mention.