When it comes to cross-border commerce, it all boils down to logistics.
As the latest X-Border Payments Optimization Tracker™ reveals, sales and the consumer demand for international goods is higher than ever, as the speed and connectivity offered by new technology has made consumers able and eager to explore companies from beyond their borders. Over the past month, and beyond, companies both big and small hoping to do business internationally and expand their customer bases are increasingly relying on the power of logistics in order to survive and thrive in the modern global economy.
Around the X-Border world
The international commerce boom may be best exemplified over the last month by activity in the Asia-Pacific region, with South China’s eCommerce industry set to be worth roughly $839 billion by 2021.
Perhaps inspired by that growing market, DHL’s eCommerce division recently announced it will look to increase its presence in the region by expanding shipping facilities in the area to handle 81 million shipments a year.
Similarly, England’s SafeCharge corporation announced it would open new offices in Singapore and Hong Kong. The company also recently joined UnionPay International in a move designed to better support a growing international transaction load.
For a roundup of the latest cross-border commerce news, check out the News and Trends section in the Tracker.
Using blockchain to track coffee from bean to cup
As demand and access to international goods and services has grown, consumers are increasingly becoming concerned not only about the quality of the product they are buying, but about the mission and ethics behind the companies offering those products.
For the April Tracker, PYMNTS spoke with Daniel Jones, founder and CEO of Bext360, a new Denver-based fair-trade coffee supplier for retail coffeehouses that uses social commerce to give back to communities from where the coffee is sourced.
Jones told PYMNTS the company plans to pair blockchain tracking technology with a message that caters to these socially conscientious consumers when it begins partnering with local coffee chains this summer.
“People are becoming more socially conscious of where their products come from and what those dollars actually contribute to,” he said. “I think that’s a positive thing, obviously not only for our business, but in general, and I think that’s a trend that’s going to continue to grow, and one that we’re working to find an efficient way to satisfy.”
Find the full story inside this month’s Tracker.
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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.