eCommerce payments requires the use of software service providers
eCommerce Payments
Online payments require service providers and software to grow your overseas sales

eCommerce Payments

eCommerce Payment Methods

Credit cards are still the primary method of payment online by default - both domestically and internationally. However, preferences for payment method vary by country and geography so make sure to understand how and where purchases are being made online in your target markets. For example, we have seen wider use of ewallets and consumer accounts due to the perception from the local consumers of increased risk of transaction fraud with online card payments through payment gateways.

Accepting Online Payments

A payment gateway is a software set up as a part of your website to enable customers and other businesses to complete onsite transactions and is responsible for authorizing and processing payments and securely delivering payments to accounts. Payment gateways require merchant accounts, whereby the gateway authorizes the payment to the merchant account, and it is recommended you contact an Online Payments eCommerce Service Provider. 

Payment Service Providers can help with payment gateways, shopping carts, VAT tax, and even foreign exchange rates. 

Online payments will require the assistance of service providers

eCommerce Payment Gateway vs Merchant Account 

Merchant accounts and payment gateways are different services, but both are essential for ecommerce transactions and are often bundled together. 

A merchant account is simply a bank account that allows you to accept payments from credit and debit cards. A merchant account serves the same function in a brick-and-mortar store as it does online. 

Payment gateway software allows credit and debit card payments to take place securely and rapidly over the Internet from your site. Both a merchant account and a payment gateway are needed to make online payments.  
 

What about online payment fraud-prevention? 

Selling through cross-border ecommerce inherently raises your risks for fraud.  It is important to go with a well-known cybersecurity service provider with a strong reputation for security, as overseas consumers need to feel their payments and transactions are secure. 
 

Is a local legal entity required for payment processing? 

Some overseas markets have established that in order to complete financial transactions, or conduct business altogether, you must establish your company in-market. This can be for multiple jurisdictional reasons, such as local tax revenue generation for example. Avoid a rigid one-size-fits-all approach towards entering overseas markets, and be adaptable to rule changes in the future, as with local legal entities. Talk to a Trade Specialist at the US Commercial Service today to learn more.
 

 

Explore Our eCommerce ResourcesLearn about the WGR Service for SEORead the eCommerce Frontline Library

 

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Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

Limitations

As a beta product, the Chatbot is currently being tested and its responses may occasionally produce inaccurate or incomplete information. The Chatbot is trained to decline out of scope or inappropriate requests. The Chatbot’s knowledge is limited to the public information on the Export Solutions web pages of Trade.gov, which covers a wide range of topics on exporting. While it cannot provide responses specific to a company’s product or a specific foreign market, its reference pages will guide you to other relevant government resources and market research. Always double-check the Chatbot’s responses using the provided references or by visiting the Export Solutions web pages on Trade.gov. Do not use its responses as legal or professional advice. Inaccurate advice from the Chatbot would not be a defense to violating any export rules or regulations.

Privacy

The Chatbot does not collect information about users and does not use the contents of users’ chat history to learn new information. All feedback is anonymous. Please do not enter personally identifiable information (PII), sensitive, or proprietary information into the Chatbot. Your conversations will not be connected to other interactions or accounts with ITA. Conversations with the Chatbot may be reviewed to help ITA improve the tool and address harmful, illegal, or otherwise inappropriate questions.

Translation

The Chatbot supports a wide range of languages. Because the Chatbot is trained in English and responses are translated, you should verify the translation. For example, the Chatbot may have difficulty with acronyms, abbreviations, and nuances in a language other than English.

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