4 minute read

Your guide to local payment methods around the world

Friday, February 11, 2022

4 minute read

Ecommerce has broken down borders, as many businesses are now able to attract and transact with customers from around the world. Offering the right local payment methods to meet your customers' preferences—wherever they reside—will greatly increase your opportunities for growth.

In our guide, How local payment methods help businesses capture more market opportunity, you'll learn how consumers prefer to transact in different regions around the world, including Asia Pacific, the Americas, Europe, the Middle East, and Africa.

By understanding and enabling local payment preferences, your business can:

  • Reach new customers. Drive business growth by offering the local payment methods your customers prefer in each market you serve.
  • Capture more sales. Offer the right payment mix to increase conversion rates, reduce cart abandonment, and help grow revenue.
  • Optimize your costs. Reduce your total cost of acceptance by offering lower-cost payment methods when and where they're available.
  • Reduce fraud and transaction disputes. Payments with higher levels of customer authentication typically result in lower fraud rates.

More than 70% of all consumer transactions are paid via bank transfers, digital wallets, and cash-based payments - not the major card networks

More than 70% of all consumer transactions are paid via bank transfers, digital wallets, and cash-based payments - not the major card networks

And while you may be offering local payment methods preferred by your customers today, don't assume those preferences will remain static for long. As new payments continually emerge and gain popularity across different regions and countries, you need to remain vigilant and review your offerings frequently. A few questions to ask yourself:

  • Where do my customers live and transact?
  • How do my customers buy from me (in person, online, mobile)?
  • Do I want to expand across borders?

For more information about how you can set up the right mix of payment options for your customers, download our guide How local payment methods help businesses capture more market opportunity, explore our database, or contact us today.

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