With 380 million shoppers and an annual revenue of USD670 billion, Chinese ecommerce is one of the most exciting sectors in the world. Breaking into the market is not a simple process, however. The Chinese online shoppers is extremely choosy about where and how they buy their products. Unless you understand their preferences, it will be impossible to get their attention in such a competitive region.
Last week, over 1000 merchants and payment experts gathered in Berlin for 2017’s Merchant Payment Ecosystem (MPE) conference. Across a packed three days, all of the key issues facing our industry were placed under the microscope, with thrilling keynote speeches and a lot of networking.
On Wednesday, it concluded with the prestigious MPE award ceremony… where Payvision and Acapture took home gold as the best PSP of the year! The Best PSP Award honours the provider that offered the leading overall service over the previous twelve months.
The P2P sharing economy has revolutionized the way we access products and services. By allowing companies and consumers to deal directly with one another, platforms like Airbnb and Getaround have forged an entirely new business model. It is also a lucrative one, as P2P marketplaces collect a healthy commission on every deal. This model creates certain payment complexities, however. Indeed, payments are one of the most pressing issues facing the industry, significantly impacting business growth.
Boasting the 6th biggest ecommerce market in the world and the 3rd biggest in Europe, France represents attractive territory for online merchants looking to branch out internationally. In fact, 6% of all French retail is done online. Yet, while the French buyer is comfortable with web-shopping, that does not mean getting their attention and capturing their business will be easy.
Boatsters is an Amsterdam-based ecommerce marketplace that supports agreements between boat enthusiasts and boat owners in various regions across the globe. As a rapidly rising company in the lucrative sharing economy, it needs a payment solution that can deal with complex transactions.
When ecommerce payments need to be split, things quickly get complicated. Dividing a transaction manually drains time, resources and money. If the recipients operate in different regions, varying financial regulations and currency exchanges come into play. SlicePay ensures even the most complex transaction is settled with minimum hassle.
In the video below I explain it in more detail.
When Payvision launched Acapture a little over one year ago, we knew that a new type of payment service provider (PSP) was needed. Payment processes were not in step with the pace of modern retail. Major PSPs were still relying on bloated, inflexible payment solutions from previous decades, which were slowing down their clients’ growth.
As we built our new platform, we put flexibility and data science at its heart. The flexibility would ensure each client got a solution crafted to their needs, while the data aspect meant changes could be made to improve conversion rates as the client used the solution.
CROWDYHOUSE, the premier launch platform and marketplace for the world’s best designers and makers, allows design fans to buy directly from the source. It won the Accenture Innovation Award in 2014 and was one of WIRED’s 100 Hot European Startups in 2015.
In its early days, CROWDYHOUSE’s local Dutch payment service provider was all the company needed to handle the transactions being made on its platform. Yet, as it entered a period of rapid growth, it quickly became apparent the innovative marketplace would need a more powerful payment solution.
Back in 2013, IBM told the world that 90% of its data had been created during the previous two year period. Three years later, it is clear that the era of Big Data is here to stay. What is less certain, however, is what the average business should be doing to take advantage of the situation.
For those of us in the omnichannel payments industry, however, there can be no hesitation. Data science gives us the chance to offer a new standard of payment services to merchants, with solutions that adapt based on systematic analysis of the oceans of key data accrued from the long list of potential sources: from sales channels to public government information to social media data and more.
At the beginning of 2016, many were predicting it would be the ‘Omnichannel Year’, a time in which consumer demands would dominate. Now, as 2017 looms into view, those predictions are being proved correct. Merchants are beginning to see omnichannel retail as a must-have rather than a possible choice.
We believe going omnichannel is not just a trend but rather a major development in a merchant’s business performance. To illustrate this, here we list the three most important things you are missing out on if you do NOT go omnichannel.