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Table of Contents

Lead Story

Integrated systems create a new POS paradigm

News

Industry Update

Intuit's IMS ends agent program

Indictment halts the action for poker sites, processors

PayPal, Discover launch Money Messenger

Does certification without licensing make sense?

Selling Prepaid

Prepaid in brief

China's prepaid market a different world

Prepaid's unique way in India

Features

Text message marketing, the other mobile

Pal Flagg
Street Savings

Meet The Expert: John Arato

ISOMetrics:
Technology in the hospitality world

Press release power

Views

Facts and figures from the feet on the street

Jeffrey Shavitz
Charge Card Systems Inc.

Education

Street SmartsSM:
Let's reform our industry's education and training

Bill Pirtle
MPCT Publishing Co.

What tokenization is and isn't

Tim Cranny
Panoptic Security Inc.

Ask, don't sell

Jeff Fortney
Clearent LLC

How to use direct mail to build your business

Peggy Bekavac Olson
Strategic Marketing

Global opportunities mean global strategies

Caroline Hometh
RocketPay LLC

New Products

Tapping the government and education markets

ConvenuPAY
Electronic Merchant Systems

Inspiration

Learn to make use of conflict

Departments

10 Years ago in
The Green Sheet

Forum

Resource Guide

Datebook

Miscellaneous

2011 Calendar of events

Skyscraper Ad

The Green Sheet Online Edition

May 09, 2011  •  Issue 11:05:01

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Global opportunities mean global strategies

By Caroline Hometh

A n increasing number of ISOs and acquirers are asking RocketPay LLC what it takes to build an international payments strategy. I thought an article in which I share some thoughts on the subject would be of interest.

Great opportunity

I'll begin by looking at the opportunity. Global e-commerce volume is projected to be $963 billion by 2013. RocketPay projects an approximate 9 percent e-commerce growth for the U.S. market, an 18 percent e-commerce rise for the European market and a 27 percent growth for e-commerce in the Asia Pacific market this year. Most importantly, 43 percent of e-commerce merchants who are not currently selling internationally have indicated they plan to begin international e-commerce sales this year.

It's obvious the global opportunity is significant. To exploit it, a payment business must adapt its technology. Here are two important factors to consider in this regard:

  1. Card-not-present transactions come in a variety of technology flavors that are commonly called e-commerce (Internet), v-commerce (virtual POS), m-commerce (mobile device) and s-commerce (social media).

  2. Internet gateways must be multiple currency, have multiple language support, and have connectivity to acquirers worldwide and country-specific payments. Gateways should also have fraud tools, robust reporting and reconciliation, and short message service/email alerts.

International acquirers

Next, a payment business must choose an international acquirer. This selection depends on what region or regions you (and your merchants) want to expand into. It also depends on the kinds of merchants you target. More and more, international acquirers are interested in working only with partners who will bring a balanced portfolio, not just high-risk accounts they want to dump "off shore."

When you work in e-commerce internationally, employ a weighted fraud offering that addresses "friendly" fraud. Use a good chargeback management system that recognizes international acquirers will probably want to work with your merchants directly. And be sure you have chargeback insurance. All of these costs can be charged directly back to merchants.

Additionally, your internal staff, external agents and value-added partners will need training and collateral that will assist in selling new technologies and payment types. Your marketing team will need to alter your websites, social media, presentations and proposals to adapt to new markets. The underwriting and risk team will need to be prepared to assess merchant applications from different parts of the world. And remember that your personnel will have a new process to deal with.

As an industry, we are accustomed to seizing the kind of dynamic new opportunity now evident in international payments. This is what makes us strong and relevant now and will continue to do so in the future.

Caroline (Carrie) Hometh is the Executive Vice President, Sales for RocketPay LLC. She can be reached via email at chometh@rocket-pay.com; via office phone at 978-255-3109, wireless at 978-807-5047 and direct at 978-462-3459; via the web at www.rocket-pay.com.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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