PayU Hub raises the bar in cross-border e-commerce to match your consumer needs
The pandemic has had a massive impact on all businesses. However, even though this situation is unprecedented in the history of globalised trade, technological advances and new business models are set to help e-commerce players recover and adapt to the ‘new normal’.
At the same time, many merchants see a world of opportunity at an international level, as the cross-border e-commerce market continues to grow at a fast pace. Industry predictions indicate that the cross-border B2C e-commerce market is set to reach EUR 3.9 trillion by 2027 and this means more opportunity for growth in the future. Against this backdrop, how can emerging e-commerce leaders keep up with industry dynamics and capitalise on this trend, without putting their business and international expansion plans on hold?
Tackling cross-border challenges through technology
When it comes to cross-border expansion, there are many factors that must be considered. Technology providers should create streamlined customer journeys for businesses as a starting point for a positive end-user experience, while retailers must optimise their existing payments strategy before thinking about expansion. Localising the payments process – by understanding the regional payment preferences of the customers and integrating local and alternative payment methods into their checkout experiences – is also vital.
The payment-related steps that need to be taken can be cumbersome for merchants, and that is why partnerships with modern fintech and payment service providers dedicated to creating a fast and efficient payment process can streamline the process.
Making payments a strategic advantage with PayU Hub
Despite the attractiveness of growing markets, merchants are still being held back by cumbersome cross-border payment infrastructure and processes.
PayU Hub is the solution for global borderless online payments, enabling access to over 50 high-growth markets and over 400 international and local payment methods. Furthermore, with PayU Hub, global merchants can boost their business growth by fast switching to any payment provider and offer any payment method that’s suitable for their business at any time. Through a single integration, the PayU Hub provides merchants with access to 2.3 billion potential new customers in the major high growth markets globally.
PayU Hub’s combination of our own unique local knowledge and new technology helps emerging e-commerce leaders tackle barriers to cross-border expansion and ensure customers have access to the best financial services.
Looking forward
In 2021, it's time to say no to abandoned carts and cumbersome payment experiences. Business success will hinge on providing the right products in the right geographies at the right times, preferably with fast, seamless and easy-to-use payment services.
Since PayU’s creation in 2002, we have been driven by our belief that payment optimisation is a game-changer and PayU Hub is a reflection of our commitment to provide solutions that can support progressive businesses as they continue to expand across borders and redefine customer experience.
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