Businesses in today’s marketplace are able to achieve global expansion, but finding success in a global marketplace presents unique challenges to new and existing businesses.
Navigating foreign languages and processing different currencies require a specific set of tools and considerations. Businesses must understand the local preferences related to making payments online. Thankfully, technologies such as safe payment cards allow you to process international payments for your business. This gives you a larger market in which to offer your products and services.
Understanding Global Payments
Successfully expanding to other countries requires that you understand all factors related to processing global payments.
Every country is unique. Consumers in countries such as Switzerland and Germany, for example, are comfortable making purchases from foreign businesses online.
This makes it essential for you to know the payment preferences and behaviors of local consumers. Your business must provide the support to allow for a variety of payment methods.
The following are a few international payment methods:
- Giropay in Germany
- iDEAL in the Netherlands
- SEPA Direct Debit for countries all across Europe
By supporting these and other payment processing methods, your business is positioned to succeed in gaining hundreds of millions of potential new customers.
Optimizing for the Global Marketplace
New ways of supporting global expansion include the use of hosted payment pages (HPP). These make it easy to create a seamless sales process for your customers. Your payment page design can be matched when routed to a secondary server for processing.
Using Direct API, all payments can be hosted on the server for your business site. This simplifies the process even further by minimizing the steps needed to complete a payment.
International search engine optimization (SEO) allows you to improve your site’s ability to cater to an international, online market. In addition, international search engine marketing (ISEM) and other strategies make it easy to cover all of the components of your international sales process.
Simplifying the Payment Process
Safe payment cards give your customers the option of making purchases without having to provide sensitive information related to bank accounts or credit cards. This gives your customers the ultimate level of security and convenience.
Many businesses make the mistake of asking for too much information in their sales processes. This can create anxiety in the mind of your customers who may feel that their payments may not be secured, which can lead to users abandoning their online shopping carts at the moment just before purchase, which results in significant losses in revenue over time.
Using safe payment cards prevents these and other issues. It offers a universal payment process that maximizes your revenue while providing greater service to your customers.
Credit card- and bank-free methods of payment simplify the process for both sides of a given transaction. Your customers no longer need to have their account information, passwords, or security codes with them to buy from you. This streamlines the process and improves your conversion rates.
Using safe payment cards along with the tools that optimize your online business for a global market keeps you ahead of your industry competitors. By offering a secure and easy method of payment for international buyers, you position your business to achieve great success in your global expansion efforts.