n a dynamic, increasingly connected world, consumers abroad may want to buy your products or services. This can sometimes prove to be a problem, because not all payment processors provide the ability to accept foreign currency. If you sell online, there is no doubt that foreign consumers will stumble upon your website. Luckily, with PayArc’s integration with Planet Payment,our merchants can do just that, and grow their business by competing in the global market.
According to thebalance.com, in 2018 the U.S. exported $2.5 trillion worth of goods and services overseas. There are plenty of opportunities to sell to consumers abroad, and that can only be good for your business—particularly if your business is a service (which comprises one-third of U.S. exports), and you don’t have to pay shipping costs for the performance of that service. U.S. services that were exported the most were travel, computer, business, and financial. All of these services are supported by PayArc and backed by our experienced team. Widening the net to include global consumers can only help your bottom line.
Planet Payment is an international payment processing platform that allows consumers to browse and pay in their own currency. They currently serve 47 different countries, support 150 currencies, and process over 10 billion Euros in transactions. They offer risk management solutions like security audit reporting of individual users and IP blocking to limit remote access for the peace of mind merchants who process with PayArc need,while also supporting new technologies and keeping up with changing industry standards and market nuances.
Planet Payment “provides the flexibility to deliver solutions tailored to meet the specific needs of Acquirers and Merchants in both established and dynamic emerging markets around the world.” With this integration, PayArc expects our merchants will have amuch easier time reaching and selling to foreign consumers so that their foreign payments will be processed as they should be: Simply.