Online Shopping: A Fiduciary Relationship between e-tailer and Customer

Abstract

According to Internet World Stats' statistics (2012), more than two billion people are linked to the Internet and this number shows that 30 per cent of the world population use the Internet. As a result, this can be used as an efficient marketing platform. The convenience of online shopping renders it to be an emerging trend among consumers. Online shopping involves sharing of personal and financial information from the buyer. This makes the e-tailer to stand in a fiduciary position against the buyer and he is required to act for the sole benefit of the buyer. He has to duly address the security issues involved in the online shopping transactions and exhibit highest order of diligence and care. This paper aims at identifying the potential security threats involved in the online shopping transactions and the remedial measures adopted by the e-commerce companies. The paper also exemplifies from Indian e-commerce as demonetization, along with rapid digitalization, has not paved the way for cashless transactions, but also, for the e-commerce crimes.