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The Green Sheet Online Edition

February 27, 2023 • Issue 23:02:02

New Products

Unlock cross-border ecommerce revenue streams

Product: Ecommerce consulting services
Company: FYST

FYST launched a one-stop consultancy designed to help ecommerce merchants navigate the fast-growing cross-border ecommerce market. By bringing together fintech innovators under one brand, the company provides tailored advice to help businesses scale up and access more than 70 payment methods through its global partner network. Having observed that post-pandemic ecommerce businesses are at an inflection point where they need to have digital payment services in place, Ryta Zasiekina, CEO of FYST, said, "That's where FYST comes in—we are right beside our clients and partners at every step of their journey into global ecommerce."

A payments industry expert with deep roots in fintech, Zasiekina moved to Latvia, fleeing Russia's war in Ukraine, in early 2022 to establish FYST. She had previously served as an independent business adviser specializing in ecommerce, fintech, payment processing, risk management and fraud mitigation strategies.

International commerce, simplified

Zasiekina noted FYST removes complexity from cross-border payments by helping online ecommerce businesses manage ​international ​payment schemes and navigate numerous global banking relationships to ensure fast, flexible and cost-effective international commerce.  

We path your way to easy B2B banking transfers, she stated, through services such as account opening and payment technology guidance to provide a rich network of card processing and bank payment solutions. FYST has created a diverse team of successful industry pioneers, she added, and we share our product knowledge, practical advice and first-hand scaling experience to help businesses go beyond just offering payments.

A growing international market

Noting Bank of England recently predicted the value of cross-border payments will reach $250 trillion by 2027, Zasiekina said FYST is a timely solution that can help businesses move beyond basic digital payment capabilities to fully participate in the robust, international ecommerce market. FYST provides 360-degree advice and support designed to help clients unlock new opportunities in the fast-evolving ecommerce space, she added. Bank of England researchers also observed that progress has been slow with regard to improving cross-border payments, largely due to communication gaps among participating intermediaries, time zones, jurisdictions and regulatory environments. While domestic payments have improved in many regions, researchers cited a range of friction points in cross-border payments, including capital controls, requests for documentation, balance of payments reporting and compliance processes that can cause significant payment delays. In conclusion, they stated international collaboration can help resolve these challenges.

FYST can help companies cut through all of these challenges in the cross-border space, Zasiekina proposed, while optimizing payment flows both operationally and technically, providing legal consultation and helping clients streamline compliance and AML procedures.

Expanding global footprints

Bank of England researchers attributed global ecommerce growth to a number of factors, including manufacturers expanding their supply chains across borders, cross-border asset management and global investment flows and increased traffic from migrants sending money through international remittances. With continued growth in cross-border payments, FYST empowers partners and their merchants with a unique mix of agile digital payments capabilities, the company stated, noting these services are backed by personalized support. In addition, the company's payment and banking experts, who are pioneers in their respective fields, offer compliance, KYC and AML advisory services.

The FYST team knows that creating an unforgettable experience is key to client acquisition and income generation, Zasiekina stated, adding that customers remember merchants who provide a positive ecommerce shopping experience on their websites. Ultimately, designing a positive user experience requires a blend of intuition and keen understanding of customer needs, and FYST helps clients cultivate those essential skill sets, she said.

In a Sept.12, 2022, blog post, "Creating Efficient Customer Experiences Through Exceptional UX Design," Zasiekina noted it's difficult to stand out in the digital world. "To stay ahead of the competition, a web store doesn't necessarily need to offer the most merchandise or even the lowest pricing," she wrote, "but it does need to strike a balance between simplicity and aesthetic." end of article

Website: https://fyst.com Contact: hello@fyst.com

The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information.

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

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