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Insights and Expertise

international payment methods are making cross-border
transactions more accessible, propelling this boom. Coun-
tries such as Indonesia are leveraging technology to en- The growth trajectory in Asia
hance their digital ecosystems, spurring both ecommerce
and fintech advancements. and Latin America is not merely
a trend but a testament to global
These trends underscore the immense potential of these
regions as prime markets for cross-border ecommerce. economic change.
With technology evolving and online shopping on the
rise, these regions are set to redefine the global ecom-
merce landscape.
Strategies for thriving in high-growth markets
To seize these opportunities, businesses must delve into
these dynamic markets and tailor their strategies, secur- In the global marketplace, a one-size-fits-all payment
ing a formidable position in digital commerce. strategy falls short. Each market demands a nuanced ap-
Challenges and strategies for proach due to its unique regulations, payment habits, and
cultural quirks.
expanding to new markets
Tapping into the fast-growing ecommerce markets comes To thrive in international markets, businesses should con-
with its own set of hurdles. Each region boasts distinct sider partnering with a comprehensive payment service
payment systems, business climates and regulatory land- provider that offers a centralized view of payment activi-
scapes, making it imperative for businesses to grasp these ties across multiple regions. This approach simplifies the
intricacies thoroughly. management of complex cross-border payment processes,
enhances approval rates and reduces costs.
One prominent challenge is deciphering local consumer
behaviors and payment preferences. Take Thailand, for in- By leveraging a single provider's deep expertise in regu-
stance, where bank transfers lead with 31 percent of trans- latory compliance and foreign exchange risk manage-
actions, while cards and e-wallets each hold 22 percent. ment, businesses can streamline operations and focus on
growth. Centralized access to advanced reporting and
In contrast, in Latin America, although digital payments reconciliation tools is crucial, enabling businesses to track
are gaining traction, cash still plays a significant role. This performance and adapt strategies effectively, ensuring
variation in payment preferences underscores the neces- compliance with local regulations and maximizing their
sity for versatile and adaptable payment solutions. Com- global reach.
panies that overlook these preferences risk missing out on
substantial market opportunities. As digital commerce continues to evolve, the spotlight
shifts towards harnessing the untapped potential of high-
Navigating the regulatory terrain presents another layer growth markets. The growth trajectory in Asia and Latin
of complexity. Each market comes with its own financial America is not merely a trend but a testament to global
regulations, compliance standards and legal stipulations. economic change.
For instance, South Korea's currency, the won, cannot be
moved out of the country, requiring currency conversion For businesses keen on expanding their horizons, these re-
for international transactions. gions offer a gateway to new consumer bases, innovative
practices, and a chance to be part of the dynamic future of
Being well-versed in local laws related to issues like anti- ecommerce.
money laundering, data protection and taxation is essen-
tial to avert legal complications and earn the trust of cus- Guillaume Tournand is vice president of growth at Worldline, where he
tomers and partners. expands the company‘s unique selling proposition through geographi-
cal expansion, alternative payment methods and M&A. He has 20 years
Operational issues such as managing transaction approv- of experience in various positions, including IT/development, sales,
al rates, dealing with high interchange fees and handling marketing, product management, corporate development, and M&A/
currency fluctuations can affect profitability. finance. Worldline has long recognized the shift toward harnessing
the untapped potential of high-growth markets. It has been studying
To overcome these challenges, businesses should collabo- these markets and building relationships within local banking and
rate with payment experts that can provide advanced pay- payment ecosystems. The company is dedicated to aiding its customers
ments technology, local payments expertise and solutions in expanding globally and operating more efficiently in these vibrant
that can fit into a variety of different markets and indus- areas. For more information, contact Guillaume via LinkedIn at www.
tries.
linkedin.com/in/guillaume-tournand.

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