In partnership with Edgar, Dunn & Company (EDC), PPRO Group, a global cross-border e-payment specialist, today released exclusive data affirming that while the U.S. is a world leader in e-commerce, U.S. based merchants still lag behind other countries across the world when it comes to embracing cross-border e-commerce. With the U.S. remaining a global leading commercial nation, PPRO’s recent research also affirms why America has strong advantages in a global marketplace and how merchants can leverage them.
Titled “Is U.S. e-commerce ready to take on the world? ”, the white paper reveals U.S.-based online merchants are far behind with taking advantage of global e-commerce growth because most are not offering enough or any local payment methods (LPMs, also known as Alternative Payment Methods or APMs) to international markets. LPMs, defined as those payment methods outside of traditional credit card brands such as Visa and Mastercard that facilitate the needs of different geographies, cultures and domestic economies. By 2021 only 15 percent of global online payments will be done by credit card, an indication that LPMs are rapidly becoming a primary means when paying for online goods beyond local borders.
While a little over a third of American merchants sell across borders, PPRO’s recent findings confirm that this is comparatively low to other major markets around the world. Across European markets – including Germany, France and the UK – almost half of online merchants sell cross-border. The potential boost of the U.S. cross-border e-commerce growth is exponential, with PPRO’s data showing that by 2021 cross-border sales will likely account for more than 17 percent of all United States e-commerce.
“The U.S. is a world leader in e-commerce, with merchants enjoying astonishing success in encouraging consumers to change their shopping habits to buy online rather than in-store. But U.S. merchants are significantly less likely to sell cross-border than competitors from other major markets,” said Steve Villegas, Vice President of Partner Management at PPRO Group. “With the lion’s share of e-commerce growth now coming from markets outside the U.S., that has to change. Now is the time for American e-commerce to go global. “
The whitepaper will be officially announced at Money 20/20 Las Vegas, where PPRO will be exhibiting. The whitepaper will be distributed during the event and PPRO will have executives available on-site for further details or questions.
For more information on the recent e-commerce research and results or to arrange an interview with PPRO during Money 20/20 please contact Nikkia Adolphe at email@example.com or 678-367-0043.
To book an appointment with PPRO Group at Money 20/20, please visit https://www.ppro.com/money2020paymentsjeopardy/#.