For businesses expanding into new markets, there is a whole host of components to consider and, as a result, a multitude of potential suppliers to work with.
Global E-Commerce Experts Founders recognised this and set out to build a one stop shop, providing an end to end E-Commerce management solution for businesses looking to launch new markets.
Global E-Commerce Experts is now a leading agency providing best in class business development services for companies looking to expand into the UK, EU and US.
Managing international payments
Many Global E-Commerce Experts customers are US businesses looking to expand to the UK and Europe, as such, being able to seamlessly take payments across borders is crucial.
Initially, Global E-Commerce offered payment by card but International VAT Specialist Joe Webster soon found that the associated transaction fees were unsustainable so the team started looking for something different. He explains:
“Processing card payments is expensive, particularly when you require settlement in a different currency."
We started looking at Direct Debit and the fees for taking international payments with GoCardless are much lower than other providers.”
International payments with GoCardless are processed via our global network, and currency conversion is done with our partner Wise at their fairest 'real' exchange rate. This is different to other providers that treat foreign exchange (FX) as an additional revenue stream and add a fee on top of the exchange rate (this can cost merchants as much as 8x more).
50% of Global E-Commerce Experts’ customers now pay via GoCardless’ recurring payment network.
We were able to get up and running in a month through the integration with Xero. Since then, the cost of processing international payments has reduced significantly,” says Joe.
A seamless customer experience
With customers around the world, Global E-Commerce Experts has found that paying by GoCardless simplifies the process for its customers too. Joe explains:
“GoCardless, gives our customers a localised payment experience. So wherever they are in the world, it’s really clear which details they need to provide in order to set up the Direct Debit.
“With other providers this has been much more complex and we have had to do a lot more work to help customers understand and gather the right information.”
Direct Debit has been well received by Global E-Commerce Experts’ clients around the world. According to Joe, this is in part down to the additional flexibility offered by the GoCardless platform:
“With GoCardless, we can still give our customers the option to authorise the payments each month. With E-Commerce businesses, this is really useful and helps them to know exactly when funds are leaving their account.”