Go global to stay innovative

There’s no doubt that innovation in the fintech and financial services industry has gained a lot of traction over the past few years.  New partnership opportunities between fintechs and banks are also moving at an accelerated pace, opening up vast opportunities for both.

While the e-commerce market in the EU is growing at a relatively healthy rate of 13% a year, many other markets are far outperforming that – which is great news for online merchants across the globe.

According to recent reports, the average global e-commerce growth rate is 38%, with China leading the way, expanding at an impressive 64% per year, and leading the trend in digital commerce and payments globally. 57% of payments are made via e-wallets and only 16% of the Chinese population have a credit card.

These impressive growth figures are extremely positive for online merchants and retailers. It also highlights how important it is for merchants to ensure that their online presence is enticing and accessible to a wider, global audience.

Simply accepting credit card payments is no longer enough. In fact, regions experiencing high e-commerce growth are seeing this come via alternative payment methods. A frictionless payment journey is necessary to make sure that the user will return to the online merchant.

Consumers increasingly favour payment options that they can trust and rely on. If merchants fail to provide suitable payments services that is relevant to the local markets, culture, and payment patterns, the consumer will find a retailer that does.

In the latest whitepaper by PPRO, 10 important steps are outlined to ensure that your business can successfully go global and surpass any barriers or regulatory challenges along the way.

To find out more, download your complimentary copy of the“Going Global” whitepaper by PPRO here.

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