As merchants develop new channels and new payment types, moving into areas like m-commerce, they face significant challenges and opportunities. More and more they aim to expand globally and grow their business in different regions. The market research into aspects such as the countries to which they should expand, the preferred payment methods in those specific countries or regions, the regulatory and tax framework and fraud profile per country is key to their expansion. In order to educate the merchants and the payments industry on international opportunities and how to expand globally, Payvision has initiated the Cross-Border eCommerce Community (CBEC).
Some of the greatest challenges for merchants who want to expand globally are understanding consumers’ shopping behaviors, the local differences characteristic of each market and how to actually adapt their business to these local particularities. Market players should benefit from an interdisciplinary approach, but information on cross-border transaction data, the barriers and drivers is not readily available, and when it is, it comes at a price. Payvision initiated the CBEC to fill in this info gap, and together with The Paypers, ReD, PAY.ON and World IT Lawyers, it has committed to supply information on cross-border ecommerce facts, market barriers and national payment behaviors, unique insights and data that can be valuable to ecommerce merchants.
In-depth knowledge of the international card payments industry enables Payvision’s experts to share knowledge related to global card processing, innovative payment solutions and risk & fraud management. By doing so, Payvision’s partners are able to save resources and costs, in order to make their business more transparent, more profitable and more visible. Ultimately, sharing best practices will lead to a better understanding of the market.
Sharing the information in the context of a community such as CBEC allows merchants to come to one place, one knowledge hub, and access it in a very convenient manner, saving a lot of time and money by downloading the country reports and infographics on cross-border transactions published on The Paypers’s section and by engaging in discussions with the key experts on the microsite www.crossborder-ecommerce.com.
Read more about each member’s contribution to the community in the launch press release .