BlueSnap Data Finds North American Retailers Miss Out on 6% of Global Sales by Not Using Localized Payment Processing
Summary
According to BlueSnap, retailers that do not process online payments in the country where the transaction is made will fail to convert 6% of all international eCommerce sales. Last year, Internet Retailer’s 2018 E-Retailer Global Expansion Report estimated that the international sites operated by the top 1000 US retailers (excluding Amazon and its financial data) generated $37.6 billion in sales outside of the US and Canada in 2017. “While there are many factors that contribute to businesses not using local payment processing -- including their global footprint, a lack of education and limited access to the tech that enables it -- the benefits of accepting local payment methods and currencies is obvious,” said Ralph Dangelmaier, CEO of BlueSnap. BlueSnap provides an All-in-one Payment Platform designed to increase sales and reduce costs for B2B and B2C businesses. Our Platform supports online and mobile sales, marketplaces, subscriptions, invoice payments and manual orders through a virtual terminal.
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