what is c2c? C2C eCommerce has emerged as one of the leading online business opportunities today. Consumer to consumer markets offer an innovative means to enable consumers to connect with each other through their computers. Traditional retail markets involve business to consumer interactions, where a consumer goes into a business to buy a specific product or service. In the case of C2C eCommerce, consumers visit a website, enter their personal details, and pay for the item or service by using their credit cards, or debit cards.
Shop using their payment preferences and currencies
C2C eCommerce sites allow consumers to shop using their payment preferences and currencies. Payment gateway technologies allow individuals to transact over the internet at secure gateways that store information on consumers’ financial transactions such as name, address, and credit card or debit card number. The information is stored securely by the gateway, enabling businesses to process the transaction quickly and efficiently. Gateways also guarantee payments for the consumer-to-consumer transaction by confirming that the transaction has gone through and the buyer and seller are the ones who have sent the money from their respective accounts.
C2C eCommerce is used by companies or people who have ecommerce stores on the Internet. There are various types of C2C gateways to facilitate this kind of ecommerce. Some of these are: independent, open, multi-brand, and reference networks. Some of these gateways are open for everyone, while others are restricted to particular brands or certain types of products.
A C2B enterprise, or bi-lingual, business, is a type of consumer-to-consumer eCommerce portal where bilingual (or bi-lingual) consumers can browse through the available products and make purchases from the site. An independent enterprise may not have an online presence, but is still an extension of a company’s offline presence, such as a bank. Open enterprises allow ecommerce stores only in countries where the company has agreed to abide by the local laws. A multi-brand C2C eCommerce portal is one that allows consumers in more than one country to shop. The prices are usually lower than for single-brand stores.
A reference network provides a gateway for a company’s database. The database stores all the consumer’s purchase history and other information, and the first step of the C2C eCommerce platform is to log on to the reference network website. From there, the businesses can access information about their products and can do more effective marketing campaigns based on these data. A good reference network should also provide secure connections so that the online store does not have to pay an additional fee for security authentication.
Match a company’s specific needs
An online store can be designed to match a company’s specific needs. The C2C platform works at the consumer-to-consumer marketplace level and allows businesses to match the specifications of their target audience to the appropriate platform. The C2C platform makes it possible to extend services to consumers seamlessly, and the resulting experience is that of a one-stop-shop.