Manish Agarwal, Vice President Marketing, Rediff.com, spoke about customers wanting customized solutions, and their value system has changed towards indulgence. Two things critical to online business are security and ease of access. People want great deals, and comparison systems. They also prefer rating systems where the rating is done by users, to help them decide. They need tools to search for products.
Bishwaroop Ghosh of the Times Group compared India and the US saying that only 5 percent of India is online, while the number is 69 percent for the US. In India, 4.6 mn people are banking online, 40% of netbanking users do not want to send money to others because of security concerns and 70% of people are not comfortable using credit cards. Across the globe, 90% of all online transactions are using credit cards. He elaborated on various fraud mechanisms including the infamous Nigerian fraud, phishing sites, phishing popups – fraud is prevalent because because the internet is so prolific. There remain issues with payment modes