Payments processing overlooked by online retailers

Payments processing is often being overlooked by retailers when launching a web presence in overseas markets. According to Julian Wallis, head of sales at payments service provider, Ogone, international expansion is being halted by retailers who aren’t

offering local payment types:

“There are lots to consider when expanding overseas. Retailers need to think about localising the offering as this gives a better chance of success. This involves using the local language and having a specific website per country that has a local domain name. However, the payments side is often left until the end and is [often] an afterthought.”

Research shows this is a mistake because it means retailers will have invariably spent lots of money and effort to get people to the site but then when they arrive at the checkout they find the local payment methods are not available. This leads to abandoned carts.

“There is a presumption that everywhere accepts credit cards and many UK-centric businesses simply don’t know local markets. They might know of some of the bigger alternative payment types like iDEAL in The Netherlands but not the likes of Open Invoice in Germany that is a newer method,” suggests Wallis.

He says retailers are also benefiting from the ease-of-use of the Ogone Collect proposition to help them “dip their toe into new markets” and cites Schuh as having implemented the Schuh.eu site for taking European transactions with varying payment methods accepted. “It’s got an EU site now and will localise over time as it takes the markets one at a time,” he says.

Research shows that UK retailers are catching up slowly and spotting the need to adopt local payment methods, which can have immediate increases in sales figures.