News • 08.11.2019

U.S. retailers are missing out on global eCommerce opportunities

International eCommerce will top $3 trillion in 2019, according to a report from BlueSnap and Kount

Online shopping with a smartphone. In the background: glasses with latte...
Source: PantherMedia / vlado85

Kount, the leading AI-driven fraud prevention provider, and BlueSnap, an All-in-One Payment Platform, have released a new Internet Retailer survey and report finding global eCommerce will top $3 trillion this year for the first time. One of the major findings is that despite more consumers shopping internationally, retailers say fraud prevention and currency and payment processing are obstacles to taking advantage of the growing market. 

International consumers are increasingly shopping online, with North America’s top 1000 e-retailers selling $143 billion worth of goods to customers outside the U.S. Amazon accounted for 44 percent of those international sales, largely because of its first-mover advantage. But the study found there is opportunity for retailers to gain significant market share by expanding their global efforts.

Fraud and foreign currencies

More than half of online shoppers have already purchased goods outside their country. Despite the opportunity for U.S. online retailers to sell internationally, less than half of them ship outside the country. The survey also found 67 percent of retailers agree international ecommerce is a critical source of future growth, and 52 percent concur with the statement that international ecommerce “is suitable for us because we have many international customers and followers of our brand and products.” The study found that two primary concerns are preventing North American retailers from catering to international shoppers: fraud and the challenge of accepting foreign currencies and payment types. 60 percent of respondents cited “currency and payment processing” as a top obstacle to international ecommerce. An identical 60 percent pointed to “fraud prevention.”

BlueSnap and Kount

A partnership between BlueSnap and Kount enables retailers engaged in international eCommerce to address their two primary concerns—fraud prevention and payments processing—with a single vendor relationship. The all-in-one solution combines BlueSnap’s payment platform, which handles payment processing in more than 100 currencies and via 110 payment methods, with Kount’s AI-driven digital fraud protection, which helps 6,500 global online businesses minimize fraud losses while maximizing the number of orders they accept. The integrated solution can help leading internet retailers compete internationally. “The combination of BlueSnap and Kount clears the way for retailers and brands to serve the hundreds of millions of consumers around the world ready to buy from their websites,” said Rich Stuppy, Chief Customer Experience Officer at Kount. “Our integrated fraud prevention and payments processing solution enables retailers to benefit from the strengths of both companies, while getting reports from a single source and managing a single technology platform.”

“The survey results affirmed what we already know to be true. The international market is still an area of massive potential for U.S. retailers,” said Ralph Dangelmaier CEO of BlueSnap. “In order to be competitive, companies need to have the right mix of payment solutions. We’ve partnered with Kount to make payment and fraud prevention integration easier and help U.S. businesses grow.”

Source: Kount

related articles:

popular articles:

Thumbnail-Photo: Nets and Swish partner on in-store payments pilot...
23.07.2019   #mobile payment #mobile terminals

Nets and Swish partner on in-store payments pilot

Bluetooth tech enables scalable instore payments for mobile payment app

Nets, a European payments company, and Swish, the number one payments app in Sweden, announce their collaboration on an in-store payments pilot program.Until now, Swish has mostly been used for account-to-account transactions and, more recently, ...

Thumbnail-Photo: Denmarks largest garden center chain is chasing a green profile...
26.06.2019   #sustainability #electronic shelf labels (ESL)

Denmark's largest garden center chain is chasing a green profile

Electronic shelf labels for paper reduction

Plantorama introduces electronic shelf labels in all stores, which significantly reduces the chain's paper consumption. The project will strengthen the chain's green profile and will have a positive influence on the customer experience and ...

Thumbnail-Photo: App creates personalised shopping experience...
26.08.2019   #mobile payment #app

App creates personalised shopping experience

The Swiss trading company Valora is opening its first cashless convenience store

The goods are chosen, scanned and paid for using the avec smartphone app. Mobile computer vision specialists Scandit’s scan engine is a key component of the customer-facing app. The future of shopping - whether online or offline - is ...

Thumbnail-Photo: New year brings new regulations
13.09.2019   #data management #receipt printer

New year brings new regulations

What are the big changes for German point of sales systems come 2020?

Big changes are coming to Germany’s point of sale systems starting January 1, 2020. Two terms that are tossed around in this connection are "Belegausgabepflicht" (Receipt Provision Ordinance) and ...

Thumbnail-Photo: Tackling organized retail crime with video analytics...
26.06.2019   #video surveillance #digital video surveillance

Tackling organized retail crime with video analytics

Inpixon joins forces with National Anti-Organized Retail Crime Association

Inpixon, an indoor positioning and data analytics company, announced it is collaborating with the National Anti-Organized Retail Crime Association (NAORCA Worldwide) to combat retail crime by providing a free 90-day trial offer for IPA Video™ ...

Thumbnail-Photo: Silver Surfers: Older adults ride the wave of mobile technology and shop...
01.08.2019   #online trading #e-commerce

Silver Surfers: Older adults ride the wave of mobile technology and shop online

The increasing importance of e-commerce for senior citizens

You are wrong if you think it’s mostly young people who spend time online. Older adults are also increasingly embracing online shopping with enthusiasm.In this interview, Spencer Hinzen, Director of Sales, Central Region, Ruckus Networks, ...

Thumbnail-Photo: When the product becomes the POS
19.08.2019   #mobile payment #pos systems

When the product becomes the POS

“Mobile-first” or the future of the Point of Sale

The classic Point of Sale means physical sales areas including a terminal, cash systems and queues. But this traditional image is changing. Nowadays many customers in brick-and-mortar retail outlets expect the same experience as online and require ...

Thumbnail-Photo: When customers become cashiers
01.10.2019   #epos systems #mobile payment

When customers become cashiers

Treading a fine line between traditional and visionary, between checkouts and codes

For years, we have done this in online stores: we fill our shopping cart, click to pay and are excited about our purchase. Thanks to the snabble app - now available at the Knauber Hobbymarkt in Bonn and at IKEA in Frankfurt – consumers can ...

Thumbnail-Photo: Mobile payments at the supermarket checkout
05.08.2019   #mobile payment #smartphone

Mobile payments at the supermarket checkout

An early adopter’s experience of mobile payments

Or: "What’s that you’re doing with your watch?“I still remember the first time I used mobile payment technology and paid for items with my smartphone at a supermarket checkout: It was October 17, 2018, exactly seven days after ...

Thumbnail-Photo: Retail service robots – helper or footfall generator?...
22.07.2019   #pos marketing #services

Retail service robots – helper or footfall generator?

Using drag and drop to train the new coworker

Many of us know their faces, even if we have never met them in person. One of these faces belongs to Pepper, the humanoid robot. It has fast become a media star. ...

Supplier

Superdata GmbH
Superdata GmbH
Ruhrstr. 90
22761 Hamburg
iXtenso - Magazin für den Einzelhandel
iXtenso - Magazin für den Einzelhandel
Celsiusstraße 43
53125 Bonn
Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen
Permaplay Media Solutions GmbH
Permaplay Media Solutions GmbH
Aschmattstr. 8
76532 Baden-Baden
APG Cash Drawer
APG Cash Drawer
4 The Drove
BN9 0LA Newhaven