The government has introduced new rules forcing e-commerce firms to take payments only after delivering products to customers in an effort to discipline the sector.
All advance payments will now be deposited with Bangladesh Bank or other payment gateways until the product reaches the customer. The money will be released after confirmation of the delivery is received, reports bdnews24.com.
The decision was finalised by the commerce ministry on Thursday, said its Additional Secretary Hafizur Rahman.
The initiative has been taken to end the long wait for customers to get the products they buy online, he added.
However, the authorities have not decided which side would be entitled to the interest that accrues on the money during the waiting period.
“The issue of interest was not discussed. This initiative has been taken so that the money does not stay put for a long time. There will be more detailed discussions on this,” said Hafizur.
Abdul Wahid Tamal, general secretary of e-Cab, e-Commerce Association of Bangladesh or e-CAB, said the initiative is based on the e-Cab's proposal to bring discipline to e-commerce and ensure a proper payment system. This will allay any distrust of e-commerce transactions.
The Competition Commission will look into any discounts offered by the firms while the commerce ministry will address issues of consumer rights and complaints from consumers.
However, Tamal said the decision would not apply to instant service providers such as ready-to-eat caterers and ride-sharing companies.
