For businesses in the process of expanding globally, local payment methods have an enormous impact on sales.
This is particularly true for key markets such as Brazil, Russia, China, and Germany.
In these markets, local payment methods aren't just nice to have, but are a crucial element in reaching the majority of shoppers, since credit cards are not widely used for online purchases.
But what are the key payment methods in these high potential markets? And how can expanding businesses tap these methods to drive international growth?
To help answer these questions, Roelant Prins, CCO of Adyen, gave a rundown of key payment methods in these markets at the recent Launch.co event in San Francisco.
Highlights of the presentation include:
- How culture has an impact on preferred payment methods in countries such as Germany, Japan, and Brazil.
- A quick introduduction to key local payment methods including Qiwi, a local payment method in Russia, and Alipay, a popular payment method in China.
- Why 3D Secure is not always a conversion killer. In fact, in markets such as the UK, it can have a positive effect on conversion rates.
- A brief look at Evernote as an example of a business that is using the Adyen payment platform to grow sales 100+ countries.
For more information, check out the video below.