New Report Analyzes Global Ecommerce Landscape, Cross-Border & Digital Wallets

Dec 29, 2017

According to the 2017 Global Ecommerce Report, the global retail industry is at a “crossroads”. This wide-ranging study of e-commerce surveyed 1,200 retailers from 8 countries and 12,000 consumers from 11 global markets. The perspectives of both consumers and retailers revealed interesting data for those concerned with card-not-present payments.

The key points this study uncovered include:

  • Cross-border is figuring more prominently in the plans of consumers and retailers.
  • Marketplaces are becoming a global force in e-commerce.
  • Digital wallets continue to make inroads as a preferred online payment method in many international markets.

Additional findings by this survey support that these changes will continue in this same direction in the future. Seventy percent of online shoppers made a cross-border purchase this year – up 6 percent from last year. In addition, 62 percent of retailers currently engage in cross-border e-commerce. By next year, that percentage is predicted to increase sharply to 93 percent.
Last year, credit cards were more popular than digital wallets from a payment method perspective. This year, more global consumers (41%) preferred digital wallets to credit cards (39%) when making cross-border purchases.

Lila Snyder, executive vice president and president of Global E-commerce and Presort Services at Pitney Bowes explained that “It is important that cross-border retailers focus on the consumers they are trying to reach; not necessarily the consumers they are most used to dealing with.”

She went on the explain, “That goes for developing their strategies around payment options and just about every aspect of their global e-commerce business.”

Creating a Safe Payment Processing Experience for Your Customers

There is little doubt that e-commerce has become a global force. With online sellers reporting all-time sales records for Cyber Monday 2017, it is no secret that more and more customers taking their shopping online. This has many businesses looking for their best option for protecting themselves and their customers by providing the safest payment processing experience possible.

This is seldom an easy task, considering how many merchants struggle to secure the payment processing services they need from traditional processors. If your business is one of the many that has found this task riddled with obstacles, consider what eMerchantBroker.com can offer your business. In as little as 24 hours, your business can gain access to a merchant account with secure payment processing services and multiple gateway options. Your business also benefits from EMB’s team of experts with years of experience helping industries other providers consider “too risky”.

Let us help you get a high risk merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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