With cross-border ecommerce growing at more than double the rate of domestic, it's time to learn about global ecommerce payments.
How payments can kick-start your global expansion
Do you have international growth ambitions? If so you're probably thinking about localizing your website and setting up local entities.
But before you do, it's important to consider how you'll be accepting payments in each new market.
Success stories, like ofo and Daniel Wellington, prove that global expansion is possible just by offering key local payment methods and local currencies.
The reason for this is simple.
There are millions of shoppers across the globe with discretionary spending power, a high level of English, and an internet connection.
But a large chunk of these shoppers aren't using international credit cards to pay. For example:
- In China, Visa and Mastercard make up a tiny proportion of online payments.
- In Brazil, most cards issued are not enabled for international use.
- In Germany, three quarters of shoppers prefer not to pay with credit cards.
Why local payments are so important for enterprise businesses
At the other end of the scale, offering local payment methods is absolutely crucial for big, established businesses to reach local shoppers.
To ensure they reach a critical mass of customers, businesses like Facebook and Evernote offer local payment methods such as Boleto in Brazil, Alipay in China, and SOFORT in Germany.
The global ecommerce payments guide
The potential of cross-border ecommerce is huge and, by harnessing global ecommerce payments, you'll be able to reach literally hundreds of millions of new customers.
To help you make sense of the fractured global payments landscape, and provide a useful reference when considering international expansion, we've created the global ecommerce payments guide.
In this guide you'll find:
- A breakdown of key payment methods in 26 markets around the world.
- Inside tips on payments best practices in each market to get the most out of each country.
- Information on how Adyen can help you go global with a single payments partner.
Read next: Global payment methods guide