Expand the e-Commerce Business Globally with Secure Payment Processor

As more businesses thrive on e-commerce platforms, many of them understand the importance of cross border sales to ensure the longevity of the business. As per statistics and research conducted by VISA, cross border international sales account for 66% of the online market.

Entrepreneurs choosing to extend sales to the international markets claim that nearly 31% of their total sales are from the international markets. As more customers are looking for the fast delivery options, superior quality unique products and easy checkout during the sale process and lastly a convenient and a secure payment processor, as it has been seen with the surveys, that only 35% of the entrepreneurs feel equipped with the right tools to forge a way ahead.

Difficulties during expansions that plague the entrepreneurs
Receiving international payments is still a complex system that keeps many out of the international e-commerce systems. Most international payments are complex in nature, along with the non-transparent nature, that is understandable off-putting for the commercial sector. This is difficult to reconcile for both the merchant as well as the customers.

Cash flow for international payment moves much slower than regular payment, which impedes the growth, and the cash flow of the business. Not just that, but the complete lack of transparency leads to frequent manual errors, which is damaging for customer satisfaction and also the brand image and value for the customers.

Exchange rates fluctuate as per the market prices for each day, and with international payments, without a secure payment processor, there are various hidden costs with fluctuating FX rates, costing the merchant, as well as, the customers higher.

The setting up a payment processor is a lengthy business, and when transitioning to international payments, many business owners spend too much time simply setting up, taking away the focus from the actual core business.

Each country has its own set of regulations, and when merchants choose to expand, they must comply with all the local laws and regulations, which further slows down the setup.

Expanding internationally as an e-commerce website means that the merchant will be required to access local bank accounts, certifications, relationships and more, making this a complex and time-consuming process.

How does one overcome this problem?
Using a good service provider is essential when it comes to cross border transition for your business. A good processor is one that can eliminate the hidden charges with a transparent and secure method, making the dealing of exchange rates simpler with clear understanding.

The payment processor should also ensure compliance with the local regulations, and enhance the simplicity and ease of payments for the customers by avoiding manual errors, short payment timeframes and lack of transparency.

Improved international payment methods with a secure payment processor means that merchants look for payment processors that can provide complete setup and infrastructure with transparent dealing; ensuring that merchants as well as customers have an easy time with their international sales and purchases for the best e-commerce experience worldwide.