A High Standard Outcome to Power the Post-Covid Economy

COVID-19 has upended the normal course of business action across the global real economy. The “Great Lockdown” resulted in the worst economic downturn since the Great Depression of the 1930s—a collapse in activity of such magnitude and speed unlike anything in living memory, and whose full consequences remain to be seen. Against this economic shock e-commerce proved itself to be a lifeline for millions of micro-, small- and medium-sized enterprises (MSMEs) hard hit by prolonged quarantines, and ensured continued access to goods and services for millions of people around the globe. As communities have socially distanced to flatten the curve, contactless payments have enabled safe, COVID-free transactions; brick-and-mortar retailers have rapidly moved to sell their wares online, powered by a vibrant ecosystem of software as a service providers; citizens have used social media to maintain connection with friends and loved ones across the globe; and e-commerce marketplaces have provided consumers with safety, choice and convenience.

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