Global ecommerce sales hit a new record last year at $2.3 trillion. Since this massive amount was generated by only about half the worldwide population, this figure is bound to skyrocket during the years to come as more people catch on to the benefits of shopping from home or phone. For businesses hoping to cash in on this growing realm, having the right payment platform is going to make all the difference.
Surging Revenue from a Growing Marketplace
Paper and metal money is rapidly becoming a thing of the past; in fact, many of today’s cash register attendants are leery of money printed only a couple decades ago because it’s essentially foreign to them. While chip-infused plastic has all but weeded out yesteryear’s currency, it’s merely a fraction of the modern-day marketplace. Some limited payment platforms have attempted to rise to the challenge of an increasingly diverse financial world; however, few are able to keep up the pace.
Though a number of payment options span the globe, each country also has its own range of indigenous digital solutions. As the internet takes locally owned and operated businesses to the global level, certain payment alternatives are posing purchasing restrictions due to non-global platforms. Companies like Blue Snap are striving to bridge the growing gap with all-in-one payment platforms designed to offer more far-reaching solutions than those currently on the market.
Benefits of an All-in-One Payment Platform
With a comprehensive payment platform like the latest offering from Blue Snap, businesses are able to accommodate a wider range of global payment options. This means they’re able to cater to far more customers around the world. They can scale their platforms to meet their individual needs while integrating sales into a single merchant account and payment gateway without sacrificing much-needed versatility.
Sales are expected to reach $4.5 trillion on the ecommerce front by decade’s end. No doubt, payment options wiill continue to branch out in the meantime. Businesses who aren’t able to keep up with the increasing diversity stand to lose quite a bit of potential revenue, making a global and all-inclusive payment platform a crucial component in future online sales success.