Cross-border e-commerce continues to rise in the payments industry – by 2020, more than 900 million people will be international online shoppers.
Without adaptation to this global expansion, which will see the cross-border e-commerce market grow to $1 trillion next year, you risk being left behind.
KeyTrends in The Rise of Cross-Border E-Commerce
It’s important to consider wide-ranging trends when you’re looking to take advantage of the global e-commerce swell.
These include:
- The Importance of Local Knowledge Continues to Increase:
While payments may be global, having a granular understanding of the places e-commerce is taking place is critical. Entering new markets can be made easier with the help of a payments partner that can combine global scope with this important local knowledge.
- Global E-commerce is Increasing Exponentially:
We’re not talking a small-scale bump, here – global e-commerce is exploding. It’s time to partner with a payments provider ready to scale up alongside that growth and look ahead, not simply focus on catching up.
- New Compliance Standards are Being Set:
You’ll need to comply with the Payment Card Industry Data Security Standard (PCI-DSS), PSD2 and GDPR, but, as open solutions continue to be developed into 2020, it’s likely that even more compliance standards will come down the pipe.
- External Demand for U.S. Goods:
According to Kount and Internet Retailer, e-commerce is projected to exceed brick-and-mortar sales by 2036 – and that growth is mainly fueled by demand for U.S. goods.
How to Adapt
To keep pace, you need a customizable, API-driven and multi-currency solution.
That’s where Amaryllis’ Intelligent Payment Facilitation® Technology enters the equation.
Amaryllis’ Enterprise Technology removes the technical barriers and works seamlessly with legacy systems, saving you the headache and allowing you to move straight into integrating and focusing on new markets, customers and opportunities.
To learn more about how Amaryllis can help you take advantage of increasing cross-border e-commerce, visit https://www.amaryllispay.com/platform/.