Payvision’s annual report reveals cross-border ecommerce trends in 2017

With online marketplaces and consumer technology leading the way for growth
Press release date: 
2017/10/19

Amsterdam, The Netherlands – October 19, 2017 - Payvision, global acquirer and data-driven omnichannel solutions provider, has published the findings of its fifth annual cross-border ecommerce research report, in collaboration with Juniper Research. The paper includes the results of a global survey of various industry players regarding the game-changers, the biggest challenges, the best practices for going cross-border, and much more. When compared to last year’s findings, the report reveals a new and exciting context for global cross-border trade. The compound annual growth rate predicted for the next three years for cross-border ecommerce is now 17%, whereas it stands at just 12% for ecommerce overall. Also, over the past 12 months, merchants’ attitudes towards cross-border ecommerce have become more positive, with 50% of respondents agreeing and 31% strongly agreeing that cross-border ecommerce is profitable.

 

If last year mobile commerce was considered to be the biggest cross-border ecommerce growth factor, this year the main driver merchants pointed out was the accelerated development of online marketplaces. 39% of the world’s entire ecommerce market will be controlled by marketplaces by 2020. However, the research also discusses a few regulatory items introduced by the European Union that pose major challenges, specifically for international marketplaces. More precisely, the new Payment Services Directive (PSD2) to be introduced from January 2018, requires all merchants operating under a marketplace business model to acquire a payment institution license. The costs and efforts attributed to getting such license will have a massive impact on the business activity of merchants, and the most preferred solution is to partner with a compliant solution provider.

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