USAID program experts have prepared recommendations for the development of electronic commerce and cashless economy in Moldova.
The report on the situation in the field of e-commerce and the cashless economy was developed with the support of the USAID-funded Structural Reform Program in Moldova. It was presented on Wednesday on the platform of the Prime Minister's Economic Council. Project experts Veronica Siritanu and Iuri Cicibaba analyzed all the components associated with the creation and support of an online store in Moldova, analyzed the existing electronic payment systems, logistical difficulties and tax regimes for online stores, and formulated a number of recommendations. As noted by the expert Iuri Cicibaba, in Moldova, the launch of an online store can take on average from 2 weeks to 2 months, but sometimes the procedures are delayed up to 2 years due to a number of factors. “Before opening an online store, an entrepreneur must assess the potential and costs of developing an online store by creating his/her own website (at least 2 thousand euros) or using a marketplace (200 euros), or renting online sites designed to host online store. In addition, investments are needed in the automation of processes and logistics, the development of our own courier service or the use of the services of one of 400 licensed companies for the provision of postal services, connection of payment systems. A required condition is systemic marketing, the costs of which range from 25% to 40% of monthly sales revenue, ” Cicibaba said. Experts believe that in Moldova it is necessary to clarify the concept of "e-commerce" and implement special courses to prepare entrepreneurs for e-commerce. It is also necessary to develop a guide for merchants and customers of online stores and ensure its availability on all online platforms. Experts propose to adapt the best world experience in the field of electronic commerce, including in the field of consumer protection and the use of payment systems, as well as to apply the rules of e-KYC (“know your customer”). Expert Veronica Siritanu noted that in the course of a survey of representatives of government agencies, economic agents and other interested parties, some myths related to e-commerce were revealed (for example, about the advisability of tax incentives for online trading, about payment regimes or limiting the exchange fee / interchange fee, and etc.). Siritanu noted the importance of introducing the European PSD2 directive in Moldova, which will open access to financial funds to support payment systems and fintech ideas, as well as introduce the concept of a Fintech center and a Sandbox mechanism. The study also analyzed the logistics and export tools that will enable the development of the export potential of Moldovan online stores. Experts believe that the potential of online stores can be higher if one document per transaction is applied, Posta Moldovei's capabilities for online trading are used, local fees for online stores are revised, a special banking commission for some commercial transactions is established, and entrepreneurs are helped by developing a tax and an accounting guide for online store owners, etc. These and other recommendations, after consultations with interested parties, will be included in the second package of amendments to the legislation related to the digitalization of the economy (the first provides for amendments to 26 legislative acts, it has already been sent to the government for approval).// 24.02.2021 — InfoMarket.
