Planning to go International?
To sell your awesome products to international customers, you need an international payment gateway.
An international payment gateway allows online merchants to receive payments from customers across borders.
Let us discuss what is involved in online payments across borders and what to look for in when choosing international payment gateway services.
Payment Method
Payment methods preferred by customers vary by country to country, so it is important to learn the preferred payment methods of international customers and the market that you are targeting. Some prefer to pay online via credit cards while some do not. The best way to address this is by offering your customers multiple payment options.
Local currencies
By selling online internationally, you can expand your customer base, but at the same time, you should make your customers feel at home. Checkout is the place where most of the shoppers abandon their cart. One of the main reasons for this being a lack of trust and convenience. For this, you need to list your prices in their local currencies. One other way to offer comfort and convenience to your customers is by allowing them to pay in their local currency using their preferred payment method. Whenever you are choosing an international payment gateway service, find out if they give the option to you to accept payment in foreign currency. The main benefit of this is to a customer is better user experience and hassle-free checkout as they are paying in a currency that is familiar to them. For you, this means higher sales!
Taxes and Duties
Apart from determining the preferred payment methods, you need to have a good understanding of the taxes, duties and customs of the country of your target audience. Each country charges foreign tax such as VAT on the goods sold. So, before selling internationally, you need to check the VAT rules and find out the steps that you need to follow.
Payment Options
Apart from accepting payments through credit and debit cards, wire transfer is another option to receive payments from your international customers. Another option is money orders, but for this, you need to accept only from customers with whom you have a history otherwise they can trick you.
Fraud and Risk management
When selling internationally, you should be prepared to handle risk and fraudulent transactions. To minimize risk, you need to beware of high-risk countries which are known for fraudulent transactions, suspicious email addresses and physical addresses. Anytime, if you are in doubt, it is always good to check with the customer and verify the transaction.
Conclusion
The success of your online store depends majorly on how well you sell your products to your customers. To sell products, you need the win the trust of your customers. For instance, by displaying your products in local currencies and allowing them to pay using their preferred mode of payment will prevent uncertainty during the checkout and minimize confusion. Using the above tips, now you can sell internationally through your e-commerce store and boost your sales.
To sell your awesome products to international customers, you need an international payment gateway.
An international payment gateway allows online merchants to receive payments from customers across borders.
Let us discuss what is involved in online payments across borders and what to look for in when choosing international payment gateway services.
Payment Method
Payment methods preferred by customers vary by country to country, so it is important to learn the preferred payment methods of international customers and the market that you are targeting. Some prefer to pay online via credit cards while some do not. The best way to address this is by offering your customers multiple payment options.
Local currencies
By selling online internationally, you can expand your customer base, but at the same time, you should make your customers feel at home. Checkout is the place where most of the shoppers abandon their cart. One of the main reasons for this being a lack of trust and convenience. For this, you need to list your prices in their local currencies. One other way to offer comfort and convenience to your customers is by allowing them to pay in their local currency using their preferred payment method. Whenever you are choosing an international payment gateway service, find out if they give the option to you to accept payment in foreign currency. The main benefit of this is to a customer is better user experience and hassle-free checkout as they are paying in a currency that is familiar to them. For you, this means higher sales!
Taxes and Duties
Apart from determining the preferred payment methods, you need to have a good understanding of the taxes, duties and customs of the country of your target audience. Each country charges foreign tax such as VAT on the goods sold. So, before selling internationally, you need to check the VAT rules and find out the steps that you need to follow.
Payment Options
Apart from accepting payments through credit and debit cards, wire transfer is another option to receive payments from your international customers. Another option is money orders, but for this, you need to accept only from customers with whom you have a history otherwise they can trick you.
Fraud and Risk management
When selling internationally, you should be prepared to handle risk and fraudulent transactions. To minimize risk, you need to beware of high-risk countries which are known for fraudulent transactions, suspicious email addresses and physical addresses. Anytime, if you are in doubt, it is always good to check with the customer and verify the transaction.
Conclusion
The success of your online store depends majorly on how well you sell your products to your customers. To sell products, you need the win the trust of your customers. For instance, by displaying your products in local currencies and allowing them to pay using their preferred mode of payment will prevent uncertainty during the checkout and minimize confusion. Using the above tips, now you can sell internationally through your e-commerce store and boost your sales.
No comments:
Post a Comment