Cross-border e-commerce represents a significant growth opportunity for online merchants of all sizes. A new report from Ingenico ePayments, highlights several considerations many merchants fall short on when expanding beyond their borders. The report, which focused on U.K. merchants, identified and examined six important areas they must target to succeed in cross-border e-commerce: localization, logistics, payment, mobile and multichannel, social, and fraud. Nearly 70 percent of merchants polled in the study agree that localization, in general, and in concert with the other areas named above, is vital to cross-border success. Nearly 55 percent of those merchants, however, said they have only “limited optimization” on mobile Websites when it comes to localization. In general, only 31 percent indicated they were even thinking about local language, currency and payment methods as important to cross-border profitability.
“The advantages of selling abroad are clear and plentiful, but to achieve long-term success, merchants must also address the risks and the layers of complexity involved,” said Julian Wallis, U.K. country manager at Ingenico ePayments. “Payments technology is often considered at the end of the international expansion strategy. But it is important to realize that a solid and secure payments strategy is embedded in every step of the expansion plan, not just at the final step of the checkout.”