Consider your payment options
With your initial market research out of the way, start thinking about how you’ll get paid. Customers often abandon their purchase at the point of payment. To help overcome this, it’s important to make sure consumers have confidence their payment will be handled securely, and that they have the comfort and convenience of paying in a familiar currency using their preferred method.
Know the preferred payment methods of international customers
Preferred payment methods vary by country/region, so it’s important to understand what’s available in each market you’re targeting. For example, in the Netherlands 60% of payments are by direct debit; in the Czech Republic more than 50% of payments are cash on delivery; while in Germany 46% of payments are by online bank transfer. As you research payment providers, make sure you’re able to offer payment methods your international customers will be comfortable with. With PayPal, instead of choosing each local funding method by market, we have done this work for you. When your customers pay with PayPal, they can choose their preferred payment methods.
Offer a local currency option
Some eCommerce providers let you list products in a number of different currencies. If that’s a tool they offer, you should use it. If not, consider providing a currency conversion option (at least for key local markets) so customers know exactly how much they’ll be paying in local currency. For customers who pay with PayPal, the item cost will be automatically displayed in their local currency unless they opt for their bank or card issuer to convert the currency.
It’s also important to check local variations and offerings before selecting a payment-processing provider. To give yourself room to expand into new countries/regions, consider a payment provider with global reach.
Help convert more international sales with PayPal
PayPal, for instance, consistently ranks among the top payment methods for international transactions. Customers choose it because it’s more secure, easy to use across devices, and they can receive PayPal Buyer Protection benefits on eligible transactions. For businesses, PayPal gives you access to local funding methods without the hassle of having to open multiple merchant accounts overseas. You can accept payments from more than 200 markets worldwide in over 20 currencies. PayPal Seller Protection safeguards your eligible international transactions, and we have a dedicated team to help mitigate fraud, so you can confidently sell in new markets.
If you’re already using PayPal to accept payments, please make sure your account settings are configured to accept local currencies.
If you don’t have a PayPal account, sign up now and visit our Business Resource Hub to learn more about how to use our payment solutions, plus tips and guides to help grow your business.
Additional Resources
One of the most crucial steps for getting paid online is selecting a payment processor. Check out these common missteps to ensure you make the right choice. Download our whitepaper on “Seven common mistakes to avoid when selecting a payment processor” for more information.