The Facebook-owned social media channel, Instagram boasts more than 1 billion users. Of these, 500 million use Instagram Stories on a daily basis. And around 200 million visit at least one business profile every day. Instagram's staggering numbers demonstrate how important it is for your business to drive awareness through Instagram.
No doubt, Instagram is one of the most popular social media platforms for tech-savvy and general users alike. In addition to being a place for creating and enjoying content, it's also becoming more than just that. Instagram's "Shop" feature has increased the number of people opening and growing their online businesses.
What is an Instagram Shop?
Instagram Shops let you tie your product catalog to your Instagram profile. As a result, you can showcase your products to Instagram users directly through posts, Stories, in the Explore section and in a Shop section built into your profile.
The Instagram platform can be connected to your webshop. The Checkout feature simplifies the shopping experience for your customers. Customers can browse products, shop, and buy instantly. Shoppers can browse your products in the app and purchase them with ease.
Risks associated with Instagram Store.
Because there are a lot of people using online retailers, cybercriminals are targeting them more frequently. Furthermore, despite improving security standards, most online shopping websites still suffer scams.
Despite the many benefits of online shopping, consumer confidence remains a problem. There is no customer data shared by Instagram. A customer can enter their email address, but it's not required in order to place an order. Instead of receiving messages from the business about the order placement, the customer will get notifications from Instagram with the order summary and tracking information. Even things like returns, refunds, collecting data, and managing its accounts are handled by Instagram.
Due to the Instagram system's inability to verify sale items, trust is a critical aspect. Instagram does not cover local purchases or items paid for by a Gpay, Paytm, or Amazon Pay account.
A simple platform makes it easy to post. Instagram's failure to verify products makes it easy for scammers to exploit the platform.
Solution For Your Online Marketplace
Escrow Payments is the best security provider, offering the best payment solutions for both small and large marketplaces. With digital escrow, the buyer deposits money into a third-party account until the seller fulfills the contract terms. A third-party escrow company oversees the transaction.
In an Escrow, the buyers do not pay the sellers directly. Buyers will pay Escrow instead, which will hold their funds until the product is approved by the buyer. As soon as the client is satisfied that the product is what they ordered, the Escrow service releases the payment to the seller. What is the result? A fair and safe transaction for all parties involved.
As an example, buyer 'A' places an order and pays for it. Instead of directly transferring the payment to the seller, the Escrow holds the funds in an escrow account.
Only after the buyer has received the order and found it satisfactory in every way will the escrow transfer the funds to the seller.
The escrow process is essential when the parties do not know each other, so it serves as a third-party platform that offers trusted services to the suppliers and buyers alike.
Digital Escrow Service In India.
Digital escrow services are offered by many companies in India. Among the most trusted is Vouch.
Vouch’s Digital Escrow service is a transparent way for buyers and sellers to build trust and secure a clean transfer of product and payment. Sellers can feel assured that they will be fairly compensated promptly, and buyers will feel confident that their order will be delivered as expected and on schedule. Vouch Digital Escrow keeps you updated and informed at every step of the transaction process till the end. Vouch’s professionals are always available to assist you with all queries that you may have during the entire transaction process.
There is no scope for deceit or fraud since the payments, shipping, delivery, and execution are carried out under the honest and watchful eyes of the Vouch’s professionals. With Vouch, any business transaction becomes transparent, uncomplicated, and hassle-free. If you ever come across a fraudster asking for OTP, asking you to scan a QR code, or asking you to click on phishing links, you can simply refuse and ask him/her to proceed with the transaction through Vouch.
Check back here to learn more about Escrow and how to protect yourself from fraud.
Safety is not just about protecting your credit, debit card number, and UPI accounts. It's about having control of your money till you've received the product or service you bought online!
Now that we have you up to date on online safety, let's get your transactions secure on Vouch. It's just a click away.