AUSTIN, Texas--(BUSINESS WIRE)--World First, a global leader in the international payments space, and SHOP.COM, a virtual marketplace that sells over 50 million products in over 200 countries, have joined forces to make it easier for e-commerce retailers to sell to overseas customers.
The arrangement provides SHOP.COM sellers competitive rates on foreign currency exchange as well as a suite of products to protect against currency volatility. As part of the agreement, World First will provide exchange services in 140 currencies and 45 countries worldwide for SHOP.COM sellers, who will also have direct access to the benefits of World First’s award-winning customer support.
“When our merchants list and sell products cross-border they need an in-country bank account for payments, which is sometimes a barrier,” said Eddie Alberty, Vice President of Strategic Partnerships for SHOP.COM. “World First helps solve the issue so merchants can easily access all of our marketplaces.”
Merchants can now sell their wares in the international marketplace, working with World First to open a receiving account in the country in which they are conducting business. This process allows sellers to easily transfer funds back to their domestic currency.
“World First is excited to collaborate with market leader SHOP.COM to help it onboard, attract, and retain top ecommerce merchants,” said Seth Harvey, Head of Global Partnerships at World First. “Our partnership breaks down barriers for so many e-retailers, a segment of retail that is poised for growth not just in 2017, but in the coming decade.”
About World First
World First is a market-leading, rapidly-growing international payments company. Specializing in foreign currencies and money transfer, World First combines specialist knowledge of the exchange markets with technological innovation to help individuals and businesses manage cross-border currency payments quickly, securely and transparently. A specialist alternative to traditional banks’ generalist approach, World First has successfully exchanged more than $35bn for more than 100,000 individuals and businesses since 2004. World First employs over 500 people across six international offices including London, Sydney, Austin, Amsterdam, Singapore and Hong Kong with plans for further expansion into new countries.
Market America, Inc. is a product brokerage and Internet marketing company that specializes in One-to-One Marketing. Its mission is to provide a robust business system for entrepreneurs, while providing consumers a better way to shop. Headquartered in Greensboro, NC, the company was founded in 1992 by President and CEO JR Ridinger and has generated $6.4 billion in accumulated sales. Market America employs nearly 750 people globally with operations in the United States, Canada, Taiwan, Hong Kong, Australia, United Kingdom, Mexico and Singapore. Through the company’s shopping website, SHOP.COM, consumers have access to over 50 million products, including Market America exclusive products and thousands of top retail brands. Internet Retailer has ranked SHOP.COM #59 in the 2016 Internet Retailer Top 500 Guide and the 18th fastest growing Internet Mobile Retailer. Driving sales growth is the introduction of the company’s revolutionary Shopping Annuity®, which allows customers everywhere to convert their spending into earning. By combining Market America’s entrepreneurial business model with SHOP.COM’s powerful comparison shopping engine, Cashback program, Hot Deals, ShopBuddy®, social shopping integration and countless other features, the company has become the ultimate online shopping destination.