News Highlights:
- Inaugural X-Border Payments
Optimization IndexTM quantifies online merchant preparedness to
meet the needs of cross-border shoppers
- Research identifies cross-border
payments friction points and strategies for online merchants to
capitalize on the growing cross-border opportunity
- Study finds that highest ranking global
ecommerce sites offer consumers at least six language options and
11 or more currencies
Get Additional Information Online:
- Access the full report here
- Tune in to a live webinar on Thursday,
May 21, 2015, at 12 p.m. EDT, sign up here
- Connect on social:
- PYMNTS: Facebook, Twitter and
LinkedIn
- Digital River: Twitter and
LinkedIn
PYMNTS.com, the premier source of news and commentary on
innovation in payments and commerce, and Digital River, a leading
global provider of Commerce-as-a-Service solutions, today announced
the release of the X-Border Payments Optimization Index. The new
Index, which will be published quarterly, quantifies the friction
in the online cross-border purchasing process. The report goes into
detail on merchant preparedness to handle the needs of
international shoppers and offers suggestions on how merchants can
capitalize on the growing opportunity in the global online
marketplace. The Index assessed more than 160 online stores, across
more than 60 attributes, nine industry categories and 10 countries,
including Brazil, Canada, China, France, Germany, Mexico, Spain,
and the Netherlands, U.K. and U.S.
“According to recent industry estimates, with three billion
people using mobile Internet-connected devices, cross-border
ecommerce revenue is expected to exceed $300 billion in the next
three years. In light of the large opportunity, it’s essential for
merchants around the world to take the steps necessary to be
successful on the global stage,” said Rick Barbari, group vice
president for Digital River World Payments, the company’s
full-service global payments solution. “This new Index will help
online merchants pin-point specific actions they can take to more
successfully convert international shoppers into buyers.”
The Index found that a majority of online merchants are not
fully prepared to effectively welcome the influx of global
shoppers. Based on the Index scale of 1(low) to 100 (high) – online
merchants’ aggregate score was 60 – marginally above average – when
it comes to conducting global ecommerce.
A number of key findings emerged from the X-Border Payments
Optimization Index research, including:
- Performance by geography: The
U.S., followed closely by China, was the most welcoming to
cross-border customers and best equipped to making cross-border
commerce easier for the consumer. In contrast, Mexican websites
presented significant barriers to consumers’ cross-border
purchases. Based on the Index, U.S.-based sites scored the highest
(74), followed by Chinese sites (64); Mexican sites scored the
lowest (44).
- Performance by industry segment:
Travel sites offered the best cross-border shopping experience for
consumers and represent five of the top 10 most optimized sites in
the study. On the other hand, specialty stores presented the
greatest amount of cross-border friction. Travel sites had the
highest index score (71), followed by mass merchants (65);
specialty sites scored the lowest (55).
In addition to providing performance benchmarks, the Index also
offers merchants specific action items for growing their
cross-border customer base. According to the X-Border Payments
Optimization Index, there are five things merchants need to do, and
do well, to excel at cross-border commerce:
1. Speak the local language: Support a minimum of six
different languages on their site.
2. Do the math: Present prices in local currency,
offering 11 or more currency options that are pertinent to a
buyer’s location.
3. Play the global card game: Accept the “big five”
global payment brands and methods, including Visa®, MasterCard®,
American Express, PayPal® and Diner’s Club International®
cards.
4. Keep help alive: Ensure customers have easy access to
help when needed.
5. Slim down checkout: Minimize the number of pages that
customers must navigate to complete their checkout process – aiming
for completion in less than 90 seconds.
The complete report detailing the findings of the X-Border
Payments Optimization Index is now available. Access a copy of the
report here.
The results of the study will be presented as part of a live
60-minute webinar on Thursday, May 21, 2015, at 12 p.m. EDT.
Speakers Karen Webster, CEO of PYMNTS, and Rick Barbari, group vice
president at Digital River World Payments, will provide commentary
on the most important insights gleaned from the research.
In 2014, Digital River processed more than $35 billion dollars
in online transactions across more than 240 countries and
territories. Today, through its Digital River World Payments
solution, the company offers a wide range of customizable services
for managing the complete payment lifecycle. These services, which
work through a single payments connection, include checkout page
optimization, A/B testing, real-time fraud detection, solutions to
manage PCI exposure and currency risk, as well as advanced
back-office reconciliation services and business intelligence
tools.
About PYMNTS.com
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payments share relevant information about the initiatives that
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about “what’s next” in payments. C-suite and VP level executives
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demonstrate thought leadership, popularize products and, most
importantly, capture the mindshare of global decision-makers.
PYMNTS.com, where the best minds and best content meet on the web
to learn “What’s Next” in Payments and Commerce.
About Digital River, Inc.
Backed by 20 years of ecommerce experience, Digital River is
recognized as a leading global provider of Commerce-as-a-Service
solutions. Companies of all sizes rely on Digital River’s
cloud-based commerce, payments and marketing services to manage and
grow their online businesses. In 2014, Digital River processed more
than $35 billion in online transactions, connecting B2B and B2C
digital products companies and branded manufacturers with buyers
across multiple devices and channels, and nearly every country in
the world.
Digital River is headquartered in Minneapolis with offices
across the U.S., Asia, Europe and South America. For more details
about Digital River, visit the corporate website, read
the Digital River Blog, follow the company
on Twitter or call +1 952-253-1234.
Digital River is a registered trademark of Digital River, Inc.
All other company and product names are trademarks, registrations
or copyrights of their respective owners.
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http://www.businesswire.com/multimedia/home/20150505005393/en/
For PYMNTS.comBrooke Hawkins,
617-374-4700bhawkins@pymnts.comorFor Digital RiverMaryna
Frolova, 952-225-3247publicrelations@digitalriver.com