I ordered a new smartphone from one of the eCommerce websites. The process was easy; the transaction was fast and secure; I could track my order every step of the way; and the package arrived precisely as expected – this is a sweet fantasy of any online shopper. But what if the company who is selling goods online turns out to be bogus?
For a majority of people who are not very fond of shopping online, trust is a major influential factor that puts them away from buying stuff from an unfamiliar website, or perhaps from any existing website. To tackle prevalent trust issues between consumers and online merchants in emerging Asian eCommerce markets – TrustedCompany, an online digital platform, has launched a review-driven community.
The Malaysia-based startup lets users comment on the online merchants they have purchased a product or service from. At the same time, it provides the merchants with a set of tools to authentically display customer satisfaction and reviews to build up trust among their consumers.
Starting from USD 14.95 a month, merchants can buy these Software-as-a-Service toolsets from TrustedCompany, to access this user generated data. The data can be used as a lead to bring changes to the existing services and to engage with customers to improve conversion and further increase the traffic.
The portal will also integrate with Facebook wherein users can easily login using their Facebook credentials and rate or comment for online merchants. According to Frederik Krass, one of the founders of TrustedCompany, social verification helps guarantee real people are writing the reviews and increases reliability.
“We have come up with a solution to eradicate this uncertainty of knowing if you can trust an online site or not. In order to get rid of this problem, we have come up with a revolutionary SaaS product that helps to establish trust between online merchants and potential customers that will benefit the development of the whole ecosystem” claims Frederik.
Founded by Frederik Krass, Philip Knuth, and Adam Leow Kah Thong; the company has launched its services in South East Asian countries including Singapore, Malaysia, Indonesia, Philippines, Thailand, Hong Kong and India. The startup is backed by Asia Venture Group.
The emerging state of the Asian e-commerce market holds tremendous opportunities for scam, fraud and abuse. Other platforms catering to a similar problem include Stella Service (in US) and IMRG.
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