PayPal has launched a Canadian version of PassPort, a website designed to help small merchants sell globally.
According to PayPal, Canada is the fourth most popular online cross-border shopping destination in the U.S., U.K, Germany, Australia, China and Brazil. Combined, these markets generated CAD 6.4 billion in sales in 2013 and are expected to increase that figure 192% by 2018. Up to 14.2 million American shoppers are expected to purchase Canadian goods in the next four years.
"We designed PassPort with our international insights to help small businesses tap into global sales opportunities as simply and seamlessly as possible," Cameron Schmidt, general manager of PayPal Canada, said in an Oct. 24 press release.
Business owners can use PassPort to find international markets with higher demand for their goods based on trade information and data about seasonal sales, shipping and distribution, currency exchange and fees, customs procedures, taxes, as well as cultural mores and traditional events. For example, China celebrates a Singles Day every November, and this has become the largest online shopping day in the country, according to the release.