B2B Payments

Digi-Key B2B Firm Posts Big In Europe

Digi-Key Corp, a B2B firm based out of Minnesota that sells of prototype and production quantities of electronic components, has increased it’s European E-commerce sales by 26 percent from last year during the first three quarters of 2014, Internet Retailer reported.

The B2B company, which launched its online European Sales sales las year, carries around 3 million products from 650 manufacturers and earns 42 percent of its revenue outside the United States. In Europe, Digi-Key sells online to consumers in such countries as the United Kingdom, Germany, France and Italy, according to Internet Retailer.

“We understand e-commerce infrastructure and, at the same time, we understand the importance of localization,” Chris Beeson, executive vice president of sales and supplier development for Digi-Key, said in the Internet Retailer report. “As we tap into the readiness of the European marketplace, we are committed to making it as easy as possible for engineers to research, select and purchase electronic components. With a focus on maintaining the broadest inventory of components, we will continue to expand our selection, improve our services and localize our offerings in Europe so that we are, hands down, the engineer’s first choice.”

“Analysts at research firms such as Gartner Inc. project that B2B e-commerce transactions U.S. companies in are approaching annual B2B e-commerce sales of $1 trillion, a number that’s nearly four times the size of the business-to-consumer e-commerce market that recorded sales of $263.3 billion in last year,” Internet Retailer cited from the U.S. Department of Commerce.


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Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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