Cross Border Commerce

NEW REPORT: ‘Act Local’ Taking On New Meaning For X-Border Merchants

PYMNTS X-Border Payments Optimization Tracker

As more companies engage in trade across borders, new partnerships and data insights are emerging as a result of the international interactions.

Businesses are entering partnerships in an effort to help the pace of cross-border commerce deals go at a smoother pace. Under these collaborations, merchants are investing heavily in various solutions aimed at helping improve the flow of trade, including logistics, authentication and conversion rate initiatives.

At the same time, a new batch of survey data is offering new data on international trade patterns. These reports include information on the what age group is the most active eCommerce shoppers and the most frequent obstacles merchants encounter when they are engaged in cross-border trade.

Notable news from the X-Border space

Companies engaged in cross-border trade are realizing that having company is more desirable than going it alone. To that end, several merchants are partnering together to reduce friction with global commerce.

In an effort to improve international logistics, WCA announced a collaboration with Alibaba that aims to deliver “vetting and approving” support to improve services between nations. Meanwhile, Danish financial institute Danske Bank is turning to Worldline’s payment services to expand its global reach across Europe.

Several new surveys on global commerce are revealing new information on both buyers and sellers. A survey by KPMG International of over 18,000 online shoppers found Generation X does the most online shopping worldwide compared to other age groups. Another report from Hyperwallet found independent sellers can struggle to reach customers beyond their geographic base due to high costs and payment deliveries.

Reaching consumers in different geographic locations can be a difficult task. Several companies are finding that navigating the different rules that vary between countries and regions can be tricky. For the February X-Border Payments Optimization Tracker feature story, PYMNTS spoke with Casey Bullock, North America general manager for payment processing firm Worldpay, about helping companies stay on top of local regulations and navigating an uncertain political climate.

Check out the feature story, along with the latest headlines from the world of cross-border commerce, in the latest X-Border Tracker.

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To download the February 2017 edition of the PYMNTS X-Border Payments Optimization Tracker, click the button below. 

ABOUT THE TRACKER

The PYMNTS X-Border Payments Optimization Tracker is the framework for evaluating players in the cross-border payments landscape, and the quarterly index tests the readiness of the companies to serve a global audience.

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