More than a third of Europeans who shop online choose to shop from foreign e-commerce stores. In response to the growing interest of the e-commerce sector in international expansion PayU is expanding the range of payment methods offered.
Payment cards (credit and debit) are the international standard for payments in e-commerce. However, in many countries, alternative, local payment methods such as fast bank transfers in Poland, so-called pay-by-links, or the iDeal system in the Netherlands, which works very similarly. The list of such examples is very long. When considering the expansion of your own e-shop to new markets, it is therefore necessary to pay attention to adapting payment methods to the preferences of local customers.
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Introducing the consumer's preferred payment method in the local currency also allows for all additional fees, including shipping costs, to be clearly stated. This ensures that the buyer knows exactly what to expect.oneprice to pay and is more willing to complete the purchase. In response to the growing trend of cross-border sales in e-commerce, the PayU has expanded its already rich range of payment methods, previously offered in Central and Eastern Europe (Poland, Czech Republic, Slovakia, Romania), and added local solutions popular in Western Europe. The offer now includes payment methods such as: Sofort (Klarna), Giropay, iDeal, Paysafecard, Banccontact, MyBank.
"Online stores that do not follow localization principles when implementing their international expansion strategy could, in some cases, lose access to more than 80% of the market if they limit the payment methods offered to only credit cards. ProThis is the key to success in cross-border e-commerce: offering local payment methods, "summarizes Barbora Tyllová, country manager PayU for the Czech Republic, Slovakia and Hungary.
A normal person pays with a card and doesn't deal with single-purpose bird stuff :P