{"id":1583,"date":"2019-10-09T11:10:00","date_gmt":"2019-10-09T11:10:00","guid":{"rendered":"https:\/\/www.nethues.com\/blog\/?p=1583"},"modified":"2022-04-05T06:48:23","modified_gmt":"2022-04-05T06:48:23","slug":"grow-with-prestashop-tips-for-capturing-global-audience","status":"publish","type":"post","link":"https:\/\/www.nethues.com\/blog\/grow-with-prestashop-tips-for-capturing-global-audience\/","title":{"rendered":"Grow With PrestaShop: Tips For Capturing Global Audience"},"content":{"rendered":"<p>It\u2019s a big world. And it gets bigger for eCommerce companies!<\/p>\n<p>Many of you might not agree with the statement, however, let\u2019s have a look at the numbers first:<\/p>\n<ul>\n<li>Cross-border commerce will reach$1 Trillion by 2020.<\/li>\n<li>27% of Indian and US shoppers shop both domestically and internationally. (Source: Statista)<\/li>\n<li>67% of shoppers contribute atleast 10% of their monthly online spending towards <a href=\"https:\/\/www.nethues.com\/blog\/getting-started-with-cross-border-commerce\/\">cross-border commerce<\/a>.<\/li>\n<\/ul>\n<p>The numbers leave no doubt about the fact that massive growth awaits for eCommerce businesses who go global.<\/p>\n<p>Nevertheless, your ability to capitalize on this opportunity greatly depends on your payment process. Before you proceed with going global, you need to ask yourself: Is my payment process designed to capture the maximum number of international sales? Moreover, you need to check for high cart abandonment rate, frequent refunds or charge backs among international shoppers. Why? Because this could be the fault of your global payments provider.<\/p>\n<p>So in terms of your payment system, what should you, as a PrestaShop store owner, be doing to get things right?\u00a0Don\u2019t worry, we have the perfect answer to this question. Here, we have highlighted a few tips that will help you attain an ideal global payment gateway\u00a0and ultimately the audience.<\/p>\n<p><b><\/b><strong><b>Accept L<\/b><\/strong><strong><b>ocal <\/b><\/strong><strong><b>C<\/b><\/strong><strong><b>urrencies<br \/>\n<\/b><\/strong>More than 80% of international shoppers prefer to pay in their own currency. If you ask your shoppers to pay in a foreign currency, chances are they will leave without making a purchase. For instance, if you\u2019re only pricing in USD, people from the UK might end up leaving your store for a competitor that provides the same product in pound sterling.<\/p>\n<p>Try to provide as many local currencies as you can, or atleast the major ones. In addition to this, transactions processed in the same currency for which the card is issued are more likely to be approved.<\/p>\n<p><b> <\/b><strong><b>Deploy <\/b><\/strong><strong><b>a <\/b><\/strong><strong><b>G<\/b><\/strong><strong><b>lobal <\/b><\/strong><strong><b>N<\/b><\/strong><strong><b>etwork of <\/b><\/strong><strong><b>B<\/b><\/strong><strong><b>anks<br \/>\n<\/b><\/strong>Every time a shopper submits a buy order, the payment gateway automatically routes it to an acquiring bank for approval. Some payment processors have a single acquiring bank partner to handle approvals. This means transactions originating outside that area will be seen as cross-border payments and are more likely to be declined.<\/p>\n<p>To avoid this, it is important to have a payment\u00a0provider that has multiple acquiring partners in different parts of the world. This will not only improve your payment conversion success rate\u00a0but give your users pleasant, safe shopping experience.<\/p>\n<p><b><\/b><strong><b>Don\u2019t Miss Out on Bank Approval<br \/>\n<\/b><\/strong>In case your global payment gateway has multiple bank partners, you are likely to experience more sales if the gateway automatically sends transactions to the banks that are most likely to approve them \u2014 basically referred to as an \u201cintelligent\u201d routing system.<\/p>\n<p>Based on certain criteria like the currency being used or the geography of the shopper, an intelligent system analyses the best places for transactions to get approved. Even if any transaction is declined, a fail-over system kicks in and sends the transaction to another bank until it\u2019s done. Isn\u2019t this a sure-shot way to maximize conversions?<\/p>\n<p><b><\/b><strong><b>Prepare a Strong Anti-Fraud Strategy<br \/>\n<\/b><\/strong>According to some studies, losses from\u00a0online payment fraud will top $22 billion\u00a0this year\u2014and could go as high as $48 billion by 2023. Thus it is critical to evaluate your global payment gateway\u2019s fraud-prevention measures. Does your payment solution check every transaction for fraud indicators? Does it give you the ability to customize your level of fraud protection? In case it doesn\u2019t live up to these parameters, its\u2019 time to act. Take measures to combat any kind of fraud, prepare strategies, customize your payment process &#8211; do everything bit of it so that you don\u2019t end up losing any sales due to fraud.<\/p>\n<p><strong><b>Improve Checkout Experience<br \/>\n<\/b><\/strong>The checkout process forms the bedrock of a successful online store. It\u2019s crucial to improve your international checkout experience with the help of payment analytics. For instance, if an analysis of your <a href=\"https:\/\/www.nethues.com\/blog\/advanced-tips-to-increase-ecommerce-conversion-rates\/\">conversion rates<\/a>\u00a0shows that a large percentage of international transactions are being declined, it might be directly related to your checkout. You need to examine your site from the customer\u2019s point of view by checking for security, the long checkout form, payment methods and so on.<\/p>\n<p>An ideal site must offer satisfactory data on all aspects of the payment process. This might include ways to track sales based on currency or region, refunds and charge backs reports and\/or reasons for declined transactions.<\/p>\n<p><em><i>What are you waiting for?<\/i><\/em><\/p>\n<p><em><i>Go alone or <\/i><\/em><em><i>go together<\/i><\/em><em><i>, it\u2019s time to optimize your PrestaShop store for a global capture.<\/i><\/em><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>It\u2019s a big world. And it gets bigger for eCommerce companies! Many of you might not agree with the statement, however, let\u2019s have a look&#8230;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":10,"featured_media":1586,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[30],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Grow With PrestaShop: Tips For Capturing Global Audience<\/title>\n<meta name=\"description\" content=\"Grow With PrestaShop - Here, we have highlighted a few tips that will help you attain an ideal global payment gateway\u00a0and ultimately the audience.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.nethues.com\/blog\/grow-with-prestashop-tips-for-capturing-global-audience\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Grow With PrestaShop: Tips For Capturing Global Audience\" \/>\n<meta property=\"og:description\" content=\"Grow With PrestaShop - 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