Cross Border eCommerce Payment System StrategiesApril 5, 2017
eCommerce isn’t just the future – it is now. eCommerce issues currently shape the way businesses structure and strategize, and will continue to be a primary business factor for the foreseeable future.
The Return on Investment (ROI) for businesses that seriously pursue an eCommerce strategy varies– a business with up to $1 million in annual sales can realistically achieve a median annual sales growth rate of up to 137 percent as a result of its eCommerce efforts alone.
With eCommerce providing such lucrative potential ROI for many businesses, including a person on your team who has an idea of the “what” and “why” of the eCommerce process is essential.
One of the main eCommerce issues companies face, time and time again when handling cross-border eCommerce transactions is the payment process. With credit cards being the most common form of payment associated with these transactions, there are number of factors that can go into ensuring the process is as smooth as possible.
It’s important for businesses to:
- Develop an understanding of rates and fees associated with card-based transactions;
- Mitigate fraud risk through use of advanced security tools;
- Employ a streamlined workflow for handling and fighting chargebacks; and,
- Select the best payment gateway to ensure compliance and maximize ROI for their industry
To help you and other U.S. exporters to better understand the “what” and “why” of eCommerce payments, the U.S. Commercial Service will host a two-part webinar series titled “Cross Border eCommerce Payment System Strategies” on Tuesday, April 18, and Thursday, April 20, both at 1pm EST.
The webinar is hosted by the U.S. Commercial Service’s Vets Go Global Team and the eCommerce Innovation Lab and led by Ryan King of Guardian Payment Systems. In Part One (April 18), Ryan will explain the technology behind the payment process – shopping carts vs gateways, along with card rates and strategies to optimize your processing fees. In Part Two (April 20), Ryan will show you how to work with your funding bank on issues such as chargebacks and risk management, and explore the tools and resources that are different for processing international payments.
Click here to register for Part 1 (Tuesday, April 18, 1pm EST).
Click here to register for Part 2 (Thursday, April 20, 1pm EST).