In the online digital industry, we have seen technology being imported from other countries and implemented in India. Things are changing though as made-in-India (and for India) solutions are being exported by online players.
Take for instance eBay. The American ecommerce company is going to introduce Paisapay, a payment service developed in India, in other parts of the world.
PaisaPay to go global
Speaking about the service, eBay’s CTO Steve Fisher said,
“PaisaPay is the trust infrastructure that we built for the India market. There are other countries in the world which have similar needs, so we are starting to examine how we can take those kinds of inventions to other countries.”
It’s common knowledge that before PaisaPay, eBay had another online payment company Paypal. But both the companies went separate ways to explore independent business opportunities.
eBay now plans to focus on PaisaPay and chart out future plans.
“This is particularly interesting because until very recently, we had PayPal and so payments was kind of what PayPal did. Now, we don’t have PayPal anymore. We are still obviously huge supporters of PayPal, but there are opportunities to do more,” revealed Fisher.
India-specific ecommerce solutions to be introduced in new markets
India is not only the fastest growing ecommerce market in Asia-Pacific but also one of the most complex markets. Global ecommerce companies soon realized that localizing strategies to suit Indian consumers & sellers is the key to succeed here instead of relying on old strategies. eBay’s Paisapay & Powership and Amazon’s local lingo ads and Tatkal selling service are few such examples.
Now these same India-made strategies will be used in other countries. Just yesterday IOS reported how Jeff Bezos may introduce Chai Cart and Tatkal seller initiatives in other countries as part of their global ecommerce strategy. eBay is the latest one to join the list.
eBay trying to get better
The company has been complacent for too long in spite of having the first-mover advantage. Amazon entered in India way after eBay but look where it is now.
It appears that finally the marketplace is acknowledging its flaws, looking to work on its platform and improve buying & selling experience.
Fisher admits,
“If you want to buy anything, you can probably find it on eBay, and we probably answer that better than anyone else. That’s kind of our core strength. The core challenge we have is, we mostly don’t know what we have. That’s because of the lack of structured data, and given that we don’t really know what we have, it makes it very difficult to give a great experience.”
Now they are working towards structuring data, introducing new features, improving search & browsing experience and increase visibility on search engines like Google.
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