The Importance of Locally-Preferred Payment Options

Introduction

Charles Whiteman, MotionPoint’s SVP of Client Services, recently shared a list of emerging global payment trends with readers of Total Retail.

When e-commerce companies support locally-preferred payment methods, they generate much higher traffic, conversion and revenue metrics, Whiteman said.

For instance, "e-wallet platforms represent an ever-growing sector in this space," he wrote. "In fact, Worldpay believes purchases made via e-wallet platforms will overtake credit cards in three years. Research suggests global consumers believe these PayPal-like platforms are more secure and convenient than credit cards."

By combining MotionPoint's proprietary data (gleaned by operating more than 1,200 translated global websites) with third-party information, Whiteman shared locally-preferred payment options for several key global markets, including France. Germany, Russia and South Korea.

Read the full story at Total Retail.