Data: The era of cross-border e-commerce
Cross-border e-commerce is seeing explosive growth, driving a race among payment providers and acquirers to equip online sellers with the technology to accept any kind of payment in virtually any region. Credit and debit cards are the dominant payment type North American merchants accept, but are much less common elsewhere.
This month alone, First Data announced a deal with BlueSnap expanding global e-commerce options, Adobe announced plans to roll out Magento Payments globally through a partnership with Braintree and PayPal, and The Gap selected Adyen for cross-border e-commerce in Europe. A key element in each deal is support for local payment options for online purchases from foreign merchants. Here’s a look at some of the factors driving new cross-border e-commerce alliances.