Ready to go global? The stats and the business are there to support your decision. Here are just a few reasons to take your business global.
Global Electronic Payments Growth
European payment transactions are expected to grow to $55 billion in 2018 (up 55% from 2012). Latin America will grow to $22 billion, Canada to $11 billion. Those are significant growth numbers that deserve your attention.
Your Customers Are Global
95% of world’s customers are outside the US. Merchants are trying to reach them either through e-commerce avenues or at brick and mortar locations. These customers are SMB customers as well. Over 300,000 businesses in the US export internationally, and 97.7% of those are SMBs. Those businesses want to be able to provide a single service to all of their customers.
Banks, Merchants, and Vendors are Evolving
POS, software, and ISV companies have no boundaries. It benefits service providers and processors to be able to follow them to foreign markets. To make it better, there is a trend of expanding acceptance of third party providers, creating a less bank-centric attitude in many countries.
Profit Margins Are Better Internationally
Over the last decade we’ve watched profit margins considerably shrink in the US market. This is due to increased competition, market saturation, technology, and other, more complex reasons. Many other countries, like Mexico for instance, are still in the early stages of market maturation. With that comes decreased costs, higher margins. There is an overall sense of welcoming competition and choice vs competitive burnout that can frequently happen in the US.
Learn more about going global with World Access—the first unified sales program enabling ISOs, MSPs, and Sales Agents to sell globally.