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Interactive GLOBALISATION AND LOCALISATION


Big Money Issues: Settling your bills


G3 seized the opportunity to discuss online payment solutions at both the global and local level with paysafe’s CEO of Digital Wallets and Income Access, Lorenzo Pellegrino


How do operators strike a good balance of local / global when it comes to payments?


Lorenzo Pellegrino, CEO Digital Wallets & Income Access, Paysafe


Lorenzo Pellegrino is CEO of Digital Wallets & Income Access, at Paysafe. Prior to assuming his current role, Lorenzo was the Executive Vice President for Digital Development for Optimal Payments plc from 2012 to 2015. Before joining Optimal Payments, he held executive level positions at Skrill (previously known as Moneybookers); first as Vice President for Sales and Account Management in the UK and then as Vice President of Business Development in the US. Lorenzo earned his degree in Public Administration and International Institutions Management from the Università Commerciale "Luigi Bocconi", located in Milan. He also attended the University of Westminster in the UK, where he completed a Business English Certificate & Diploma, with a concentration in Marketing.


P118 NEWSWIRE / INTERACTIVE / 247.COM


Tis year, 2.2 billion gamers around the world are expected to generate $108.9bn in revenue. If operators are not providing a seamless digital experience to their customers, they may potentially lose out on their share of that revenue. Te payments stage is often the last thought about, but arguably amongst the most important. If it is not optimised to include the payment methods most regularly used by their customers, operators are likely to see a high drop-off rate when it gets to the important part – the payments and depositing page. Tat’s because not all payment methods are created equal. Especially when you consider different cultural preferences towards methods of payment.


Trends don’t happen in isolation. Tere’s always


something driving them and fundamentally altering the behaviour of large groups of people and payments are no different. Te challenge for businesses is understanding the trends and adapting to them alongside their customers’ needs. Te key is the localisation of the payment needs while still allowing customers to connect to a global economy. Innovation in this industry means trends can change very quickly in local markets.


With so many payment methods on offer, it can


be daunting for an operator to narrow it down, but considering the cultural context, attitudes to security and authentication, and economic circumstances in the markets in which they operate can be the difference between success, or losing out to a competitor.


How can an operator successfully tackle cross- border payments?


Offering innovative, engaging and localised payment solutions can help differentiate businesses looking to compete in international markets. Competition is fierce across all sectors of e-commerce, including online gaming and gambling, and merchants vying for attention require innovation and alternative payment acceptance solutions that meets both consumer expectations and regulatory requirements. Offering a large number of payment methods isn’t always feasible. Te cost of implementation, set-up, and maintenance can be high with some payment methods requiring operators to register a bank account in certain countries, and difficulties associated with managing multiple


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