PayU for emerging e-commerce leaders

As the financial partner of online merchants in emerging markets, we’re constantly watching the latest global trends in e-commerce. If you are as passionate about the future of financial services and cross-border e-commerce as we are, keep reading.

842

B $

Value of European e-commerce market

187

B $

Value of e-commerce in Latin America by 2021

37

B $

Value of India’s online shopping sector

29

B $

Value of African e-commerce by 2022

Are you an emerging e-commerce leader?

 

You were born online, you’ve cracked your first million in annual sales, and you’re already active in multiple markets. The world is yours, but where to go next?

Emerging e-commerce leaders are fast growing online or omnichannel businesses with big ambitions to be the stand-out brand in their sector. They understand the need to use state-of-the-art technology to uplift revenues and are looking for trusted partners to expand into exciting high-growth markets.

PayU believes these businesses are fundamental to the future of global commerce.

 

The role of financial services when selling across borders

 

In the world of e-commerce, payment options are numerous and payment preferences can differ widely by country. This is particularly true in emerging markets, where alternative payment methods represent as many as two-thirds of all online payments.

When expanding internationally, payment methods are an important part of localizing your offering. Local payments build trust, have higher conversion rates, and help you to meet your customers where they are.

To realize the full potential of a new market, emerging e-commerce leaders  require  payment technologies that localize the  shopping experience and make checking out frictionless, safe, and familiar.

At the same time, they require global solutions that allow their business to meet local payment needs across multiple diverse geographies.

Characteristics of emerging e-commerce leaders

Revenue optimization

Never-ending drive to improve conversion rates by optimizing the checkout process.

Cross-border expansion

See international markets as the best channel for new customer acquisition and long-term growth.

New technology

Seek to solve problems by incorporating new and innovative technology.

Emerging markets

Actively looking for solutions to realize the potential of emerging markets.

Solution-driven

Want seamless tools to ensure compliance with local regulations.

Locally-focused

Rely on local experts and know-how for meeting local preferences.

Global e-commerce trends

The developments we are watching right now
  • Global retail e-commerce

    Global retail e-commerce

    is predicted to be worth $3.9 trillion USD globally by the end of 2020.

    COVID-19

    COVID-19

    is driving further e-commerce growth. PayU merchants in select sectors reported >100% increase in online payments during March-May 2020 compared to 2019 levels.

    85% of the world’s population

    85% of the world’s population

    live in emerging markets. As a group, emerging economies now account for almost 60 percent of global GDP, up from just under half only a decade ago.

  • Economic recovery

    Economic recovery

    will be driven by emerging markets. The 10 economies with the highest projected growth rates for the next four years are all in Africa or Southeast Asia.

    Traditional Western payment methods

    Traditional Western payment methods

    are not as common in emerging markets. Credit card penetration in India is only 4%.

    In emerging markets

    In emerging markets

    alternative payment methods represent as many as two-thirds of all payments. Local payment methods account for 68% of online spend in Latin America.

How can PayU support emerging e-commerce leaders?

Latest content

Webinar #1: Demystifying the LatAm e-commerce landscape 

If your e-commerce business is ready to move to the next level and expand into Latin America, join our webinar to learn how to accelerate your growth by understanding the local payments landscape – and how it can be leveraged to your advantage.

 

Conquering new markets is crucial for the further growth of emerging e-commerce leaders, who are fundamental to the future of global commerce. E-commerce in Latin America is growing by 20% annually, and will reach a value of 187 billion USD by 2021. The opportunity for online retailers is enormous.   

 

Extending your customer base in emerging markets, however, can be complex, resource-intensive, and requires deep knowledge of the local payments ecosystem. In Latin America, local payment methods represent 68% of all online spend. This means that for international online retailers to achieve penetration in LatAm markets, they must be connected to local card acquirers and alternative payment methods. 

 

Join our webinar to learn more about offering local payments in Latin America – and why it’s essential for e-commerce success

 

 

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Everything about the exciting world of cross-border e-commerce

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