Money20/20 is drawing closer. It’s time for the second post in our countdown of the Top 5 Ways SPEED WINS – a countdown that can make a difference in your global online payments program!
#4: EXPAND ONLINE SALES GLOBALLY
Expanding your online business globally today has never been easier or harder. Yes, there are many businesses that are growing exponentially. But why are some businesses successful while others aren’t? Their secret to success? Speed in entering the right markets when their business is ready and catching their target audience first with best-in-class transactional experiences and the payment methods they prefer.
That may sound simple, but achieving that promise is more complex than it seems. When expanding globally, you face a myriad of challenges, including:
- Sourcing market intelligence and performance insights to determine geographic expansion priorities,
- Delivering localized online shopping experiences and preferred payment methods for each country where you do business,
- Handling traffic spikes that are often unpredictable,
- Complying with different regional taxes and regulations, and
- Working with local markets to process payments, which is often fraught with uncertainties.
And the list goes on. However, when online businesses are able to navigate these issues, their revenues grow, and the “uncertainties” become much more predictable and manageable. Doing the homework it takes to solve these challenges is worth the effort. Operating on a global scale, for example, can offer your business greater resiliency and new growth opportunities.
Of course, rather than reinvent the wheel, it’s always smart to learn how businesses around the world are already solving these issues. Click here to learn how a global leader in online music streaming went from being a start-up to a global game changer by expanding their payment transaction processing and subscriptions worldwide.
We’re happy to speak with you in person about how you can take advantage of the global online opportunity and the commerce and payments solutions that go along with it. If you’ll be attending Money20/20 in Las Vegas, stop by the Digital River booth #1101 to meet with our payments experts.
And while you’re at it, you can test your own need for speed – literally – request a “Fast “Pass,” strap on a pair of skis and hit the slopes on our ski simulator to feel the rush of how SPEED WINS. If you can’t make Money20/20 but would like to chat, we’d be happy to hear from you at firstname.lastname@example.org.