The establishment of a fully functioning PayPal system in Sri Lanka will help eBay and e-commerce to spread in Sri Lanka, said eBay India VP and Managing Director Latif Nathani on Thursday (18). EBay is expecting to engage with government authorities to reduce the friction vis-à-vis online transactions and bring improvements in the payment and logistics systems and streamline the existing system with regard to e-commerce in Sri Lanka, he said.
With PayPal not fully in operation in Sri Lanka, retailers are using swift transfers and bank remittances as payment methods said Crescent Lapidary Proprietor A. Khazim Cader (5367), one of the oldest eBay retailers from the Indian Subcontinent, who sells his gems and jewellery via e.bay from Sri Lanka.
Speaking to Ceylon FT, HelloCorp (pvt.) Ltd.'s eBay Operations Head Trevin Speering said that the extent of government engagement required cannot be determined until expansion activities begin. HelloCorp is a BPO operator which is also eBay's local agent in Sri Lanka.
There are 3,000 Sri Lankan sellers currently listed on eBay selling to UK, USA, Canada, Germany and Australia, with 8,000-9,000 live listings offerings made daily, said Nathani.
eBay is now looking to increase the amount of cross border sellers in Sri Lanka and change the existing export industry by providing an international platform for small and medium scale firms to enter the export market, he added.
Nathani said that there are people living in slums in India who have made use of this opportunity and are selling their products to buyers worldwide.
Gems, tea and garments are expected to be the main industries that will be conducting business through eBay he said.
The gemstone industry which is currently onboard with eBay with a gemstone being sold every 30 minutes from Sri Lanka is one of the main gainers from the country.
Cader who is from this industry said that eBay reduces the need for warehousing and intermediaries, thus making it cheaper for buyers. He also added that the National Gem and Jewellery Authority needs to fine tune their current system in order to address strict eBay standards. eBay has partnered up with Sri Lankan BPO Hellocorp which will work on seller account management and training existing eBay retailers as well acquiring new sellers in the future.
Hellocorp currently has five account managers and plans on establishing new ones in the rural sector as well, said Speering.
This tie up is expected to allow Sri Lankan sellers to export to over 39 countries where eBay has its operations.
With 162 million buyers worldwide last year, eBay has a gross merchant value of USD 82 billion worldwide. eBay's international market makes up 57% of its revenue and they focus on providing a platform for individual sellers to reach a global market as opposed to Alibaba and Amazon which deals with B2C transactions.
- https://www.ceylontoday.lk/22-118549-news-detail-ebay-has-3000-expoters.html
With PayPal not fully in operation in Sri Lanka, retailers are using swift transfers and bank remittances as payment methods said Crescent Lapidary Proprietor A. Khazim Cader (5367), one of the oldest eBay retailers from the Indian Subcontinent, who sells his gems and jewellery via e.bay from Sri Lanka.
Speaking to Ceylon FT, HelloCorp (pvt.) Ltd.'s eBay Operations Head Trevin Speering said that the extent of government engagement required cannot be determined until expansion activities begin. HelloCorp is a BPO operator which is also eBay's local agent in Sri Lanka.
There are 3,000 Sri Lankan sellers currently listed on eBay selling to UK, USA, Canada, Germany and Australia, with 8,000-9,000 live listings offerings made daily, said Nathani.
eBay is now looking to increase the amount of cross border sellers in Sri Lanka and change the existing export industry by providing an international platform for small and medium scale firms to enter the export market, he added.
Nathani said that there are people living in slums in India who have made use of this opportunity and are selling their products to buyers worldwide.
Gems, tea and garments are expected to be the main industries that will be conducting business through eBay he said.
The gemstone industry which is currently onboard with eBay with a gemstone being sold every 30 minutes from Sri Lanka is one of the main gainers from the country.
Cader who is from this industry said that eBay reduces the need for warehousing and intermediaries, thus making it cheaper for buyers. He also added that the National Gem and Jewellery Authority needs to fine tune their current system in order to address strict eBay standards. eBay has partnered up with Sri Lankan BPO Hellocorp which will work on seller account management and training existing eBay retailers as well acquiring new sellers in the future.
Hellocorp currently has five account managers and plans on establishing new ones in the rural sector as well, said Speering.
This tie up is expected to allow Sri Lankan sellers to export to over 39 countries where eBay has its operations.
With 162 million buyers worldwide last year, eBay has a gross merchant value of USD 82 billion worldwide. eBay's international market makes up 57% of its revenue and they focus on providing a platform for individual sellers to reach a global market as opposed to Alibaba and Amazon which deals with B2C transactions.
- https://www.ceylontoday.lk/22-118549-news-detail-ebay-has-3000-expoters.html
