LONDON--(BUSINESS WIRE)--International payment experts, World First, today announce they’ve teamed up with Meridian Global Services, a market-leading VAT and sales tax advisory firm. The partnership will help cross-border online sellers targeting new sales territories access competitive exchange rates and global tax compliance advice to give them a competitive start in new markets.
The sheer pace of globalisation and technological change naturally presents huge opportunities for cross-border trade, especially for online sellers, but the move into new markets and territories is not without barriers – currency transfers and tax complications are two such hurdles.
World First has established itself as a leading provider of international payments by offering online sellers access to overseas bank accounts and competitive exchange rates when repatriating sales revenues – the savings could be up to 4% compared to an international bank transfer or the default transfer method offered by international online marketplaces. With access to an overseas bank account, online sellers will also have a convenient way to pay their international tax directly in the local currency.
Similarly, online businesses selling in overseas territories will be faced with the unenviable challenge of trying to understand local VAT and sales tax regulations for each market, with many sellers deliberately attempting to restrict revenues to stay below the threshold where tax becomes payable. Meridian has more than 20 years’ experience of guiding clients through the minefield of global VAT regulations.
The benefits of this partnership will be communicated on an on-going basis to both sets of customers. As long as online sellers target growth, World First’s international payment solution and Meridian’s tax services will be of value.
Commenting on the partnership, Seth Harvey, Global Head of Partnerships at World First, said:
“Our ambition is to help our customers sell more goods across borders. We are responding to customer needs by removing hurdles to that growth; and VAT is one that I hear our customers cite time and time again. Moving into new international markets is an exciting time for our customers, but can also be challenging as it means getting up to speed on local rules and regulations to ensure you are both compliant and competitive. We’re tremendously excited to be working with Meridian who can help our customers avoid a major VAT headache and target international growth.”
Commenting for Meridian, Chris O’Shea, Channel Manager, said:
“We are excited to partner with a global player like World First. Meridian works with some of the world’s fastest growing e-commerce companies to help them succeed when accessing new markets. This partnership will assist sellers in expanding overseas and reaching new customers, all the while ensuring they can repatriate their monies at cost effective rates and remain VAT compliant in the process.”
Notes to editors:
About World First
Since 2004, World First has exchanged more than £60billion for more than 75,000 individuals and businesses. It is one the fastest growing fintech companies in Europe, with an annual growth rate of around 50%. This has been driven by an obsession with exceptional customer service and innovative marketing – not least the creation of Mr. First, the first new Mr. Men character in more than 10 years.
World First was started in a South London basement in 2004 by Jonathan Quin and Nick Robinson. 11 years later, it employs more than 350 people and has offices in London, Sydney, Washington DC, Texas, Singapore and Hong Kong.
About Meridian Global Services
Meridian Global Services’ core business is focused on providing a range of international VAT compliance and consulting services to over 15,000 clients worldwide. Meridian provides a comprehensive VAT & Sales Tax registration and return filing service combined with consultancy and advisory offerings. This includes the filing of VAT/Sales Tax returns at required intervals in relevant jurisdictions.
Meridian Global Services is headquartered in Dublin, Ireland with offices across Europe, North America and Asia. For more details about Meridian Global Services, visit the corporate website, follow the company on Twitter or call UK: + 44 (0) 20 8601 4600 USA: + (1) 212 554 6600.