International expansion from a payment perspective

The International payments They play a fundamental role in global trade, not only facilitating the exchange of goods and services between countries, but also allowing companies to expand beyond their borders. However, sending and receiving payments abroad can be a complex process, and the ability to efficiently manage international payments is critical for businesses to expand beyond their domestic markets.

They talked about this during the Retail Forum event how to improve customer payment experience in e-commerce, fraud prevention when opening up new markets, management of local currencies and payment methods as well as experience in the internationalization of retail. On this occasion, the person in charge was responsible for moderating the round table Rodrigo VilariñoCountry Manager Spain & Portugal WORLDPAYwho was accompanied by Diego SanchezGlobal E-Commerce Director LLADRÓ; And Federica MiselliE-Commerce Director AWWG.

In general, during the lecture, the experts discussed several topics that focused on international expansion from a payment perspective. Vilariño began by saying: “Payments have a very big impact on the internationalization of a trade“ and then gave way to Diego Sánchez. “For Lladró, China is a challenge. The approach is to think globally and currently locally“, said. Regarding the payments, he noted: “The customer is always the focus and we must make it easy for them to make their shopping experience simple, hassle-free and frictionless.“. “One of the very insightful things I learned in the online channel is global knowledge.“, he emphasized.

To work in China, you need a certified local partner. Once you find him, start working with him. We have a person in China helping. They need to understand what they want and reach a point of convergence“, he indicated. Regarding the importance that a payment method plays when entering a new market, for Diego Sánchez “essential“have several:”“We have many payment methods, we are constantly testing.”.

For example, he continued: “In Spain the deferred payment method did not work and we removed it, but are in the process of reintegrating it in another way“. “In e-commerce we are constantly testing. There are so many possibilities that just because something doesn’t work right now doesn’t mean it won’t work in the future.“, he said. When asked about the scam, he explained that there is a person on their team who is responsible for monitoring the scam: “We are double checking and it is important to continue to be vigilant“.

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On your side, Federica Miselli explained that the AWWG’s focus is on Europe. “It is very important that the customer is always the focus and in the case of fashion, which is a very volatile environment, it is also important to have a more personal experience.“he explained, pointing out that when deciding when and where to expand, “We lean on the distribution we already have, and another thing that works really well for us is trying out the marketplaces first.“.

He also pointed out the mistakes that need to be avoided when considering an international strategy: “Sometimes it’s good to make mistakes. The most important thing is to learn from them, and the communication and marketing part is also very important: we need to understand how they work and choose local partners who will help us learn how the market works.“.

For us it was important and very useful to have a multi-channel structure to understand how the markets work and to stay informed and closely follow the latest developments.“Miselli emphasized, emphasizing the importance of payment methods, “We try to offer what the customer wants“.

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