ATLANTA--(BUSINESS WIRE)--PPRO, an industry leader in local payment methods has released a new report showcasing the opportunity for US merchants to expand their sales around the world. The report features data on the changing nature of global e-commerce and insights into how localization is crucial for global expansion.
Data in the report highlights the importance of local payment methods as a catalyst for sales conversion all over the globe: Local payment methods account for 77% of total global e-commerce spend and by 2024 are expected to reach 82%, further proving that consumer preferences are inherently local.
The opportunity for growth is evident as in 2018, US merchants sold $57 billion worth of goods to foreign buyers in America’s top 14 e-commerce export destinations alone. PPRO data further shows that only 37% of US merchants sell cross-border which is comparatively low to other major markets around the world. With a localized approach US merchants can unlock this global cross-border e-commerce opportunity, a sector that grew by 4% last year to a value of $412 billion.
“American merchants have a golden opportunity to take their business to global consumers. It is a matter of localizing their approach to meet the cultural factors of various markets,” said Steve Villegas, Payment Partnerships Leader at PPRO. “While credit cards are king in America with 70% of US consumers owning one, they are only used by 18% of global customers. Local payments are the key to conversion with these global consumers.”
The report will be officially announced and distributed at this year’s Money 20/20 conference, where PPRO will be an exhibitor and featured speaker on a panel titled “X-Border Customer Journeys." More PPRO executives will be available on-site for further details or questions around the report.
The report can be accessed at: https://www.ppro.com/e-book/us-cross-border-e-commerce-report/. For more information or to arrange an interview with PPRO please contact Matthew Kaiserman at email@example.com or 678-943-7408, or book an appointment with PPRO using the following link: https://www.ppro.com/#event.
Cross-border e-payment specialist, PPRO, (PPRO) removes the complexity of international e-commerce payments by acquiring, collecting and processing an extensive range of local payment methods for Payment Service Providers (PSPs) under one contract, through one platform and one single integration. PPRO supports international payment methods across more than 100 countries, allowing PSPs to expand their merchants’ e-commerce reach, arrange hassle-free collection and achieve higher conversion rates.