Ken Tan of PayPal Southeast Asia

Ken Tan of PayPal Southeast Asia

The second Speaker of the Internet Marketing Boot Camp was Ken Tan of PayPal Southeast Asia. His topic was, of course, using PayPal as the World’s Currency.

In his talk, Mr. Ken Tan of PayPal spoke about the numerous opportunities in global eCommerce. He stated that according to a Forrester Research, the online retail sales in the US will be at around $248.7 Billion by the year 2014, with a CAGR of 10%. This rise of sellers and consumers selling and buying goods in the internet will not only be a common occurrence in the US and Europe, but will also be popular in the APAC region, including the Philippines. PayPal will play an important role in this goods trading process.

There are evident challenges in the eCommerce industry that is seen and these are also the reasons why some of us are still hesitant to participate in eCommerce. The challenges according to Mr. Ken Tan are:

1) Getting started: Before you set up your own retail online store, you have to go through different steps in the process. There are getting licenses, hiring web designers, taking care of logistics and other steps.

2) Finding your customers: Some of the worry of these retailers is that they may not be able to get enough customers for their products.

3) Security concerns both for the buyer and seller: People are still hesitant because sellers are not sure if they will be paid by the buyer and the buyer is wary of not being able to receive the goods that he/she ordered.

4) Social Networking Sites: Social Networking sites is deeply intertwined with eCommerce, so never neglect to use these sites.

5) Payments culture: Think of your ‘target buyer’ and know what channel do they prefer to use in paying you.

An interesting fact that Mr. Ken Tan of PayPal Southeast Asia mentioned that 50% of those who try to buy goods online, abandon their cart after stuffing it with goods. They do not get to check out these things.

The insight that I got from his talk that we, as “sellers and consumers” should NOT be worried and scared to step into the eCommerce World. Companies, like Paypal, provides very easy and secure solutions for us to use and put our minds at ease. All we need is to have guts!

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One Response

  1. professional seo

    I've been there and Ken Tan was a good presentor. The thing is he mention that security is the priority of the buyer and the price is for the seller. I disagree because I believe that it should be both parties' concern not just the buyer. There are numerous cases in ebay and other streams of selling online that the seller has already shipped the goods to the buyer but the buyer will ask for a refund from Paypal and Paypal will grant it. How about the seller? Can he get back the items shipped from the buyer? Not anymore. Paypal should do something on their system and policies. There should be equal protection. Another thing is they have very high transaction fees and the dollar to conversion rate is horrible! I'm a paypal user but if there's a choice of another service alike, I would definitely look for better one. As of now, Paypal owns the niche market in online transactions. I hope there will be another to compete with them with better services and better policies.

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