Integrating Cross-Border Payments, eCommerce Solutions Smooths Path to International Sales
As the pandemic does a slow fadeout, eCommerce companies are increasingly looking to expand their cross-border reach without taking on the administrative and payments headaches that seeking conversions in other markets typically involves.
There are the building blocks that make it easy for customers to get the products they want: a suite of order management, digital asset management and product information management solutions.
However, companies must also ensure that customers can actually pay for what they want, wherever they are, navigating a complex web of regulatory compliance, taxes, refunds and acceptance of preferred payment methods — not to mention the task of trying to find the smartest path to routing transactions to optimize authorizations.
The barriers are daunting and potentially expensive for even the savviest enterprises looking to scale internationally.
Two longtime players in the space, eCommerce Software-as-a-Service provider (SaaS) BigCommerce and eCommerce enabler Digital River, are hoping the partnership they announced last week provides a compelling solution to the problem, Digital River CEO Adam Coyle told PYMNTS’ Karen Webster.
It’s an ambitious move to create a more powerful platform model that can give rise to the next-generation Shopify or other major marketplace or online cross-border B2B seller.
The solution is aimed squarely at midmarket and large enterprises that don’t have the resources to buy and manage the tangle of tools that were table stakes for international expansion until very recently. Far better, Coyle argued, for companies to opt for an eCommerce engine that integrates localized payments out of the box.
Putting Digital River’s payments orchestration at the center of BigCommerce’s offering is a way of ensuring fewer regulatory hassles, fewer declines and fewer disputes — and ultimately developing whole new offshore markets that were inaccessible before.“It’s having the infrastructure to be actually operating as a local in those regions because we believe that having a […]
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