New national e-commerce standard to build trust and transparency in online transactions
Singapore , 12 June 2020
Enterprise Singapore and the Singapore Standards Council have launched the first national standard, Technical Reference 76 (“TR 76”), on guidelines for e-commerce transactions. TR 76 supports ESG’s efforts to bolster SMEs’ online presence in the growing e-commerce market. In Singapore, online retail sales generated an estimated 5.0 and 5.8 per cent of total retail sales value in 2018 and 2019 respectively. This year, the figure has increased from 5.5 per cent in January to 17.8 per cent in April, reflecting the substantial increase in e-commerce transactions fuelled by the COVID-19 outbreak.
For more information, please visit https://www.enterprisesg.gov.sg/media-centre/media-releases/2020/june/new-national-e-commerce-standard-to-build-trust-and-transparency-in-online-transactions.