News

Getting A Piece Of The Trillion Dollar Commerce Pie

Collaborate to conquer. That’s what players seeking to seize their piece of the trillion dollar cross-border commerce pie are doing. Unilever’s products can reach rural China, Amazon will facilitate U.S. food exports to China and Alibaba will make eCommerce efficient in Singapore. The August X-border Optimization Tracker looks at such key deals, profiles five new player additions and updates four existing profiles.

The X-Border Payments Optimization Tracker™ powered by PYMNTS.com and Digital River, is a repository of key global payment service providers in six categories: Payment Methods, Geographies, Developer Tools, Risk & Compliance, Fraud Tools, and Omnicommerce.

Overview

  • As global retail eCommerce will grow to become a trillion dollar market this year, companies are collaborating to conquer as much space of this canvas as they can.
  • Notable deals included Unilever China’s tie up with Alibaba to expand its distribution chain and Amazon’s partnership with the U.S. Department of Agriculture to promote American exports
  • A look at bitcoin’s place in cross-border commerce.

Player Updates

  • In this issue, we’ve profiled 45 global payment service providers, including five additions to the Tracker: Abilipay, AlliedWallet, dialXS, Bango and MasterCard.
  • We also provided payment methods information for four players: Alipay, CardinalCommerce, CyberSource, and Elavon.

Commentary

Cross-border eCommerce, at least from the consumer trust perspective still remains like it was in the very early days of the Web: new, untested and unproven. Merchants need a thorough reading of the market to march on and take on the $300 billion opportunity. In this edition we discuss the challenges in integrating omnichannel with cross-border commerce.

DOWNLOAD THE AUGUST 2015 TRACKER

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

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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