Did you know that the growth of the cross-border ecommerce market does not show any signs of slowing down? As the COVID-19 pandemic has drastically changed consumer behaviour, bringing the digital universe into people’s lives to a greater degree, it is imperative to elaborate on how the changes from the last couple of years impacted the cross-border market. So, what developments should you pay attention to? Which trends should you follow?
The Cross-Border Payments and Ecommerce Report 2021–2022 provides insights on these topics and many other relevant ones that are pivotal for merchants, payment professionals, marketplaces, and beyond, drilling down into details ranging from the main challenges encountered when selling across borders to how to reap the benefits of online commerce’s growth and gain a competitive edge. Therefore, we invite you to keep on reading to learn more about the key topics tackled in the report published by The Paypers.
Setting the Scene
The State of Affairs in the Cross-Border Market
To get the pulse of the cross-border market in the most accurate way, we need to take a closer look at the factors that play a vital role in this space:
- constraints and opportunities for global merchants
- key drivers behind the success of the global online commerce space
- regulations impacting cross-border trade.
In the first chapter of the report, industry experts elaborate exactly on these topics and more in order to shed some light on the current state of affairs, in the aftermath of the COVID-19 pandemic.
Specific Challenges in Selling Across Borders
During the last couple of years, we have been witnessing transformations that would have been hard to grasp a few years ago, especially if we are to consider the speed with which all these industry developments happened. In the second chapter of the report, The Paypers analyses some of the recent but also the recurrent obstacles encountered in selling across borders, whether we are talking about fast-growing markets or mature regions. In doing so, the industry professionals that share their expertise also cover the following topics:
- fraud challenges in cross-border payments
- future regulatory changes impacting cross-border trade
- the risks merchants face in cross-border BNPL transactions.
Zooming in on Payments
Subsequently, the spotlight is on cross-border payments and how to streamline them in order to reap the benefits of online commerce’s growth. Some of the main aspects that merchants should consider before choosing the right payments partner are closely examined in this section, together with other extremely relevant factors, such as:
- optimising the checkout process
- foreign exchange and import taxes
- the future of open banking and real-time payments
- smart routing and the reconciliation process
- multi-acquirer sourcing
- how real-time refunds can help in winning customer loyalty.
Cross-Border Ecommerce Opportunities on the Horizon
The already thriving marketplaces ecosystem gained even more ground in the last 12 months, and it is imperative to take a closer look at this space which is full of opportunities. With this in mind, industry experts provide insights on relevant topics, such as:
- the impact of digital transformation on the marketplaces business model
- online platforms and the role they play in global expansion strategies
- the main fraud types that impact them.
Other ecommerce sectors that flourished during this period are digital goods and the gig economy, so we also share insights into:
- the global payment trends that shape the freelance economy in 2021 and beyond
- the relevance of providing cryptocurrency as a payment option for digital goods
- ecommerce shopping festivals and how these can be boosted with technology, sustainability, and green logistics innovation.
Gaining a Competitive Edge in Different Regions
The Cross-Border Payments and Ecommerce Report concludes with a one-of-a-kind analysis of Africa, Asia–Pacific, Europe, Latin America, and North America, as the contributors share insights on the diversity and particularities of each region.
This year’s edition features an extensive overview of European retailers from nine European markets, presenting key information about them and the payment methods they offer online. Additionally, the report contains a detailed ecommerce analysis for 20 global markets, conducted in collaboration with PPRO and featuring categories such as:
- tips good to know when entering a new market
- relevant payment methods in certain markets
- top ecommerce segments and stats per country
- key cross-border shopping origin markets
- card schemes and payment methods breakdowns per country.
The key objective is to help ecommerce businesses succeed in expanding globally and growing revenue, and with that in mind, together with the report’s contributors – top players, consultancies, industry associations, merchants, and marketplaces – The Paypers brings forward a comprehensive compendium that features essential information closely related to the cross-border payments and ecommerce market.
We invite you to download your free copy HERE and explore the Cross-Border Payments and Ecommerce Report 2021–2022 to stay one step ahead in this competitive market!