Compiled by Sonny Zulhuda
In 2017, the World Economic Forum issued some reports relating to the recent development of e-commerce laws and policies. The report is entitled “Making Deals in Cyberspace: What’s the Problem?”
This White Paper aims to build the knowledge of current e-transaction and e-signature rules. It evaluates how these apply in national and international commercial contexts, and bridges perspectives from business, legal experts and trade policy-makers to deepen understanding on potential trade policy interventions that could boost regulatory coherence. The paper contributes to a World Economic Forum public-private dialogue series on best practices in e-commerce policy as part of a broader digital trade programme.
The Report can be found here.
Later in 2018, another report by the WEF also enlightens us on an emerging issue related to e-commerce law. Entitled “Addressing E-Payment Challenges in Global E-Commerce,” the WEF highlights that technology has altered the way consumers interact with payment systems. The Internet, digitization, shifting consumer preferences and, in some cases, regulatory reform have accelerated the uptake and use of electronic payments (e-payments). In turn, e-payments have contributed to the growth of e-commerce, making it practical and possible. However, while the digital world is theoretically borderless, national and regional boundaries have not gone away. Restrictions on the international supply, use and availability of e-payment services are among the challenges to global e-commerce.
This white paper informs discussion on e-payment challenges and solutions. It provides brief context on the e-payment ecosystem, the opportunities the sector presents for small business and financial inclusion and the payment-related hurdles faced by small players dealing digitally across borders. Given that trade frameworks can address international commercial frictions and support e-payment development, the paper enhances understanding of relevant efforts to date, and reflects on what else could be done.
Find this report here.