North American payment companies are increasingly looking abroad for opportunities to grow their business, however pursuing an international expansion strategy is not always as simple as it seems. Nevertheless, in a domestic market that many perceive as saturated, U.S. independent sales organizations are able to increase their revenues by supporting their merchants who want to grow their cross-border eCommerce business.
Europe is often seen as a safe place to start, but due to the complexity of compliance and regulation, U.S. companies are finding that there are hurdles to overcome on the path to profitability. However, by pursuing the right strategy, and cultivating the right partnerships, Europe is a region that U.S. companies can exploit in order to grow their business globally and boost revenues.
How can cross-border eCommerce opportunities be exploited, and pitfalls avoided?
This is the subject of the session ‘Not as simple as it seems’, at the upcoming CNP Expo in Orlando, May 18-21. Our US Vice President Sales & Business Development, Adam Bowman, will participate in an engaging panel discussion that will lay out a roadmap for payment providers interested in expanding into Europe. From strategic approaches, including partnering with local experts, to important regulatory considerations across this heterogeneous region, panelists will share their own experience and perspectives.Adam will be joined on the panel (1.15pm on Tuesday May 19th) by Ralf Gladis, Managing Director at Computop, as well as Andre Malinowski, Global Managing Director at ModusLink. BlueSnap CCO Peter Caparso will moderate the session.
Determining the right payment mix
An important piece of the puzzle for any U.S. business expanding into Europe is enabling the right payment mix on a country by country basis. Specifically, offering the locally-preferred alternative payment methods that are expected in each market. Without Sofortüberweisung in Germany, or iDEAL in the Netherlands, payment providers and their merchants will simply not maximize conversion rates. In the more mature European eCommerce markets, invoice-based payment methods constitute 30-40% of online payments, which highlights how different the payment landscape is to the card-dominated U.S. market.
Simplifying international expansion with Open Payment Platform
PAY.ON’s COPYandPAY widget-based payment page provides a powerful yet simple solution for configuring the payment methods that are needed in each European market. COPYandPAY is a cornerstone of Open Payment Platform, our innovative open payment technology that we will be showcasing to visitors at the CNP Expo. An interactive demo session (11.00am on Tuesday May 19th) will be a perfect opportunity to see how Open Payment Platform can simplify international expansion for payment providers and their merchants.