As online payments have become the norm for brands and merchants, it is inevitable that many are beginning to expand and take advantage of the growth in international opportunities. Traditionally merchants have made this move by creating websites in local languages and formats to suit local customers’ preferences.

Yet, with recent research suggesting that as much as 60 percent of shoppers are abandoning their shopping carts before the completion of their transactions, it is clear that merchants seeking to capitalise on international opportunities must ensure that payment processing must be holistically tailored to suit local preferences.

Consider Turkey, a country where over 60 percent of online customers pay using credit cards, as compared to Germany, whose customers are accustomed to paying by online transfer. The UK is different again – payments such as credit, debit cards and mobile payments are prolific in this country.

Merchants are also beginning to recognise that varying consumer behavioural trends can also dramatically affect the risk profiles for customers in each country – for instance, whilst the use of an e-wallet for the purchase of a TV might be considered unusual in the UK, this may be seen as normal behaviour in Spain.

Many of our merchants realise that the one-size fits all model is by no means a panacea to international trade, and indeed one which could significantly have an impact on revenues. In our experience, payments require a deeper insight into local preferences, payment landscapes and behaviour types.

The best approach is to ensure that websites have a dynamic payment processing solution which holistically meets the individual local needs of customers. In doing so, merchants can ensure that they have created the best possible opportunity to capitalise within the markets they want to be in.

Ajay Bhalla, President, DataCash