With your initial market research out of the way, start thinking about how you’ll get paid. International customers, just like UK customers, often abandon their purchase at the point of payment. So, it’s important to ensure consumers have confidence their payment will be handled more securely, and convenience of paying in a local currency using their preferred method.
Know the preferred payment methods of international buyers
Preferred payment methods vary by country, so it’s important to understand what’s best for each market you’re targeting. As you research payment providers, make sure you’re able to offer payment methods your international customers will be comfortable with. Consider using a payment wallet like PayPal. Instead of picking each local funding method by market, PayPal has done this work for you and when customer’s pay with PayPal they can fund their wallet with their preferred payment type.
Offer a local currency option
In an IMRG survey, businesses that offered local currency and language options saw an average uplift of 91%.1 Some ecommerce shopping cart providers will allow you to list products in a number of different currencies. If that’s a tool they offer, you should use it. If not, consider providing a currency conversion option (at least for key local markets) so customers know exactly how much they’ll be paying in their local currency. For buyers using PayPal to pay, the item cost will be automatically displayed in their local currency.
Help convert more international sales with PayPal
PayPal, for instance, consistently ranks among the top payment methods for international transactions. Buyers choose it because it's more secure, easier to use across devices and they can receive PayPal Buyer Protection benefits for eligible transactions.2 For businesses, PayPal gives you access to local funding methods without the hassle of opening multiple merchant accounts overseas. You can accept payments from over 200 countries, get paid in more than 100 currencies, withdraw funds to your bank accounts in 56 currencies and hold balances in your PayPal accounts in 25 currencies.3
Our Seller Protection programme covers eligible international transactions, as long as you meet programme requirements. We also have a dedicated team to help mitigate fraud so you can confidently sell in new markets. Worried about return shipping costs holding potential customers back? 44% of consumers say the cost and complexity of return shipping stops them shopping internationally.4
Your business could see many more sales than returns with Return Shipping on Us. There's no fee for this service, and no activation required on your part. See the difference Return Shipping on Us could make for your sales and checkout conversion, click here to learn more. If you’re already using PayPal to accept payments, be sure your account settings are configured to accept local currencies. If you don't have a PayPal account, visit our signup page to learn more about accepting PayPal.
For help on how to set up your PayPal accounts to accept international payments, download our guide:
1 IMRG, May 2014
2 Programme eligibility requirements apply. See eligibility requirements.
3 Merchants can get paid in more than 100 currencies, withdraw funds to their bank accounts in 56 currencies and hold balances in their PayPal accounts in 25 currencies.
4 Exclusions apply. This service is offered by PayPal Pte. Ltd in partnership with CallPoint New Europe JSC (TELUS International Europe), the service processor. This is an exclusive offer offered to eligible PayPal account holders. See full terms and conditions.