Consumer expectations and shopping habits are evolving and changing all the time. So, both large and small businesses can’t be unaffected. These changes are especially vivid in the e-commerce field. If you’re interested in U.S. e-commerce in the global landscape, as well as need secure and cheap high risk credit card processing, just read below.
E-Commerce Changes & High Risk Credit Card Processing
Credit cards are playing a dominant role in the online payment market in North America, especially in the U.S. In Western Europe, credit cards account for 43% of all purchases completed over the internet, and 34% in Eastern Europe. As for Asia-Pacific, that figure is 30%. In North America, it is 59%.
Currently, the U.S. payment market is showing signs of diversification. Retailers are getting involved in pricing wars and working on improving their e-commerce capabilities during this battle for market share, according to Moody’s Investors Service. The latter provides the global capital markets with credit ratings, research, tools, and analysis.
With all that being said, it’s critical for merchants to look for a reliable and experienced payment expert to work with. With a respectable payment processor, you can get the necessary merchant services, including high risk credit card processing, for your company. This is critical to your company’s success and further growth.
Global E-Commerce Landscape
According to Moody’s vice president Mickey Chadha, the competitive landscape is getting more and more challenging.
Let’s take FedEx Ground. It’s been offering 7-day residential ground delivery during holiday seasons. In January 2020, the company will start offering all-year-round 7-day residential delivery services. Walmart and Amazon are also applying some changes.
In the U.S., 37% of merchants are selling internationally. Since the U.S. boasts a large internal market, most people in the country don’t need to make purchases in foreign markets. Based on the data provided by a company offering integrated electronic payment processing, 34% of American online shoppers purchased something from a foreign market in 2018. That figure is still the same.
To sum up, the U.S. e-commerce field has started to diversify in the changing global landscape. Find a reputable payment processor that can help you succeed in your business without major challenges.
Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest-rated high risk merchant account processor in the country that’s dedicated to offering the most secure and cheapest high risk credit card processing in the space. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.