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MARKETING
Accept European Payment Preferences
MANY EUROPEAN consumers European’s preferred payment deposits and nine percent ac-
prefer to pay online with such methods provides web mer- cept payment cards specifi c to
methods as checks, eWallets, chants with a powerful hedge foreign markets.
debit cards and electronic bank against recession. For online retailers already
transfers, according to a study Letting European shop- selling into foreign markets, the
by CyberSource Corp. Yet, while pers pay online through their costs to start accepting new pay-
59 percent of North American preferred methods can boost ment methods can be minimal
merchants accept international overseas sales an average of 20 and are usually related to soft-
orders, the percentage of these to 30 percent, CyberSource Corp. ware coding that ties a retailer’s
merchants that accept payment advised in its 2009 Project Guide checkout process to new pay-
methods preferred by overseas for ePayment management. ment methods, the study said.
consumers is relatively low, the For orders from outside of the CyberSource has a stake in rising
report said. U.S. and Canada, CyberSource sales abroad, because it provides
The study revealed that ac- noted that 26 percent of North an on demand global payment
cepting European payments of American online merchants ac- service that can enable retailers
all kinds can boost sales by as cept bank transfers; 15 percent to handle local currencies and
much as 70 percent. And the an- accept payments in foreign cur- payment methods in more than
alysts suggested that accepting rencies; fi ve percent accept direct 190 countries. ■
38 June 2009 www.covermag.com
MENTION

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