Multi-currency processing has become one of the most sought-after payment processing features, due to the rapid evolution of the e-commerce landscape. The United States is the world’s largest marketplace for e-commerce sales. With more than $186 billion in e-commerce sales in 2012 and a growing worldwide audience of e-commerce buyers, American ISOs and their merchants are positioning themselves for the next big wave in the international eCommerce sector: cross-border transactions.
Payvision offers a variety of solutions for US e-commerce companies seeking to access the international eCommerce marketplace. First, via Payvision’s US multi-currency processing program, American merchants can sell their goods online in more than 150 currencies while receiving their settlements in US dollars in their US bank account. This program enables ISOs and their merchants to truly “go global” without needing to establish a foreign entity, foreign bank account and foreign merchant account. With this multi-currency processing program, Payvision allows its customers to price their products and services in the local currency of each market, giving them a competitive edge over slower-evolving e-commerce players that only offer their products for sale in a single currency.
Payvision also offers true like-for-like payments processing, allowing merchants to process (price their goods and services) and settle (receive their sales proceeds) in the same currency. Payvision’s processing platforms in Europe and Asia allow acquiring banks, ISOs/ PSPs and their merchants around the world to process in more than 150 currencies and receive settlements in more than 20 currencies, giving its partners a true global footprint while operating on a single platform environment.
As I have explained in detail here, in the growing space of international eCommerce, ISOs, merchant services providers, sales agents, gateway providers, etc. should team up with an experienced provider to meet the needs of their US merchant customers. Our USA team works closely with US partners to train sales personnel and support sales efforts, increasing the partners’ chances of attracting new business and ensuring that existing merchant customers can expand their business internationally with guidance regarding best-practices.