There is a contradiction at the heart of modern ecommerce: while shoppers are becoming more international in where they buy, they are becoming increasingly localised when it comes to payments. So how do you know what payment tools to offer in which countries?
Thankfully, help is at hand. PPRO , a cross-border e-payment specialist, in collaboration with Edgar, Dunn and Company, has published a new and improved Payment Almanac 2.0 – available both online and in-print for PPRO’s customers and partners.
The new and updated Almanac is the most complete guide to the complex and evolving world of local payment methods. Listing and contextualising450 payment methods, the PPRO Payment Almanac 2.0 is an invaluable document for PPRO partners and customers in need of insight into the global payment landscape to inform global strategies and extend international customer reach.
Visa and Mastercard account for only about 25% of global e-commerce payments, which will fall to 15 percent by 2021, says a Worldpay study. Acquirers, PSPs and merchants must accept that unless they can localise payments, they will miss out on sales.
PPRO Payment Almanac 2.0 is the first step in organising and categorising the bewildering world of LPMs. Details on each LPM including the region where and how the LPM operates, making this an indispensable reference source for payment businesses looking to increase their e-commerce offering globally.
The Almanac also identifies booming high growth e-commerce markets. For example, South Asia is an area with exceptional market growth, with 100% e-commerce growth in Malaysia, 50% in the Philippines, and 25% in Singapore.
An online version of the PPRO Payment Almanac will also be available and regularly updated with the latest figures and the newest LPMs, as the market continues to expand and adapt rapidly in line with changing global consumer demands. A 30-day trial is available online for those interested in a nation’s e-commerce market, with detailed insights into over 60 high relevance countries exploring its market size, e-commerce growth, shopping habits and, which LPMs are prevalent. For an additional 100 markets, users will find basic information, but also which LPMs work in those countries.
“There’s a strange paradox at the heart of online shopping. It’s becoming more global as consumers look outside their home countries for a wider selection of goods and lower prices,” explains Stefan Merz, COO, PPRO. “Yet when it comes to paying for these goods, that’s still very much a local affair. Acquirers and PSPs are helping their merchants to increase reach and make customer journeys smoother. At the same time, the back-end payment challenges are growing. PPRO helps to make this part easier. When it comes to local payment methods across 175 countries, we’re the payment professionals. We process, collect, reconcile, consolidate and pay out to merchants — all on one contract, one integration and one platform. Simple. The Almanac explores hundreds of payment methods and presents our customers and partners with an array of new opportunities,”
The product of thousands of hours of research and analysis, this unique document contains the distilled knowledge of PPRO’s global team of online payment experts. The Almanac provides detail and up-to-date information every payment service provider and merchant needs – on 160 different markets and many hundreds of local and global payment methods – to plan for success in the year ahead.