On Wednesday, May 5th during #StartupChats, we talked about eCommerce and Online Payments.
We were joined by this incredible trio of experts;
Pooja Chitnis, Director of Marketing & CS, Driftscape
Samah Nimir, Corporate Lawyer, Jamieson Law
Nunzio Presta, CEO, BuyAndSellABusiness.com
First, we talked about what eCommerce looks like today;
A1 eCommerce has revolutionized how consumers shop, especially since the pandemic hit. It’s hard to imagine the world without it! eCommerce is at an all-time high and it’s projected to grow even more. #StartupChats
— Mastercard Canada (@MastercardCA) May 5, 2021
A1: It’s multifaceted: legislative/regulatory compliance around exporting/importing in your jurisdiction & where you are shipping, privacy law requirements for website compliance, data collection & protection.
We wrote about it here 👇https://t.co/L9dlYtmE78
#StartupChats— Jamieson Law (@JamiesonLaw) May 5, 2021
A1: eCommerce is retail, retail is eCommerce. We’ve just witnessed 10 years of growth within 18 months, it’s been truly transformative. What we are seeing now is the blue print for retail moving forward. #StartupChats
— Buy and Sell a Business® (@buyandsellabiz) May 5, 2021
We also talked about what safe and secure eCommerce feels like;
A4 There are some interesting innovations & enhanced security methods out there today. The use of newer technologies like a one-time code, biometric authentication as opposed to a static password, or two-factor authentication are great examples of secure methods. #StartupChats
— Mastercard Canada (@MastercardCA) May 5, 2021
A4: With all new technologies or consumer shifts people are skeptical. Then, they start to see real world use cases that get them excited and make them feel safe. Also, credible players, vendors & laws validate the safety for customers, ex. @Shopify. #StartupChats
— Buy and Sell a Business® (@buyandsellabiz) May 5, 2021
A4: Knowing how my financial information is collected, stored and that it is also protected. #privacylawtip: financial information is considered confidential information according to PIPEDA (for across Canada) and the Privacy Act (Ontario). #StartupChats
— Jamieson Law (@JamiesonLaw) May 5, 2021
And innovation in the world of eCommerce;
A8 Click to Pay is the one we are keeping an eye on; it keeps all your card information in a safe vault for when you’re ready to make a purchase. The best part is there is no static password, which we love, and has a ton of built-in security layers. #StartupChats
— Mastercard Canada (@MastercardCA) May 5, 2021
A8: It’s a super exciting & fascinating segment. I’m interested to see the role AR plays in enhancing the reality of online shopping; the role voice search plays (shout out to @vaneeepresta & @SoundHound) and the role AI will play to help shops learn about shoppers. #StartupChats
— Buy and Sell a Business® (@buyandsellabiz) May 5, 2021
A8: It’s evolving rapidly!
From a legal perspective, the EU is now proposing a regulatory framework for AI, which will make it a regulatory requirement for AI to comply with data and privacy governance across the board, it’s a gamechanger!#StartupChats
— Jamieson Law (@JamiesonLaw) May 5, 2021
If you want to see all of the topics we covered during this chat, you can see the whole transcript here.