Newer opportunity with million challenges

S Mohini Ratna Editor VARINDIA

According to one estimate, people spend over 700 billion minutes per month on Facebook and 40% internet accessed by the employees is not work-related. While it is utterly out of question that Internet access can be withdrawn but it can be restricted to reduce unproductive Internet use.

The knack for online presence is what is pushing the brick and mortar businesses to go for aggressive tapping of the e-commerce platform. One of the fastest ways to spread information about your business products or services is social media and a host of interactive platforms such as blogs and review platforms. It is certainly to the point to underline the fact that online presence is adding “muscle to business".

Survey indicates that by 2017, the worldwide mobile payment transaction market would be worth $721 billion, with more than 450 million users. e-Commerce and mobile industry is transforming traditional retail and will continue to be the preferred choice of communication platform for masses across the world. Not surprisingly, they will dominate the markets for engaging, retaining and selling services and products to a wide spectrum of customers drawn from different walks of life. With internet penetration in India is driven largely by cellphones , with a base of 110 million mobile internet users, of which 25 million are in rural India.

As technologically advanced ways to deliver online services to customers increase, security is becoming complex with the each passing day. This is obvious because excessive indulgence in internet give birth to new set of security threats. Due to the increasing proliferation of mobile devices, apps and transactions, one can expect mobile threats such as man-in-the-middle (MitM) attacks to increase in 2014.

Against the backdrop of above-mentioned internet landscape, it can be said that since the cyber-villains are looking for greener pastures for making money as hacking is now a big business. However, to offset these nefarious activities one should not lose sight of the security tips advised by websites. If you are going for online shopping, you should try it only form trusted and credible web portals.

With the recent acquisitions of WhatsApp by Facebook and Viber by Rakuten, there is every possibility that there will be a major consolidation that will take place in social messaging front in 2014. These acquisitions are signal to the shape of things to come whereby social communications, and particularly messaging, are becoming a core focus in social networking, gaming, or even commerce.

All eyes are set on the results of the parliamentary elections which will be declared on 16th May. A firm and stable government is the need of the hour if our economy has to be put on the trajectory of high growth path. Let us hope that India elects a government whose priority would be pulling the country out of the economic turmoil and ensuring cyber security and prevent cyber crimes.