How To Choose The Best Payment Gateway To Accept International Payments

One of the technological challenges online shops confront is choosing the best payment gateway to accept international payments. It’s about pinpointing the perfect financial partner for your unique business DNA. Feeling overwhelmed by endless payment gateway options while your international customers wait at checkout? You’re not alone. The decision to start selling overseas is a big one for any company. The process requires far more strategic planning than it may seem at first.

Selling Abroad Is Profitable

Although it is often known that e-commerce is growing, not everyone is aware that the proportion of international online transactions is also increasing. Using Europe as an example, figures show that approximately ¼ of European internet sales are already cross-border, and 60% of online shoppers currently buy from foreign websites.

If selling internationally looks riskier than remaining in your home market, why would you do so? Simply take into account these factors:

• You can reach a wider range of customers more easily because translating and localizing your offering takes less time than launching new product lines; 
• You can diversify risk because you are no longer dependent on the state of one economy; 
• you may face less competition overseas because markets vary in terms of saturation; and 
• your target market may be overseas because foreigners may have stronger needs or higher purchasing power.

However, it’s crucial to remember that a successful foreign expansion depends on selecting the right target markets. In-depth market research is required to choose profitable markets that are also reasonably easy to enter. The decisions you make about business development lead to higher income.

The best payment gateway to accept international payments is necessary

Once you’ve decided to play the global game, the technical issues seem to go on forever. Prior to choosing sales and marketing strategies or logistics, you should think about the best payment gateway to accept international payments. If you are not familiar with the term “What is a Payment Gateway?” read this post for a thorough explanation.

This piece is about selling overseas on your own website, where you won’t have to split the profits with big tech, but you won’t have to worry about it if you want to sell overseas on Amazon, eBay, or any other marketplace. Even if you use e-commerce software like Woocommerce, you still need to choose the finest international payment gateway, meaning one that will allow your customers to successfully execute international online transactions.

Essential Components of an International Payment Gateway

Naturally, you should list the best payment gateway to accept international payments, but what exactly should you look for? What features should the best payment gateway for international transactions have? All consumers appreciate a few characteristics, despite the fact that every market is different.

We’ve already discussed the essential features of payment gateways in general and those designed for subscription-based companies. When selling overseas, online businesses have additional challenges, which leads to a longer list of required attributes. 

Expanding with XAIGATE: The International Payment Gateway

At XAIGATE, cross-border sales are the way of the future for online shopping. By providing online payment solutions tailored to the requirements of global business, XAIGATE assists retailers who sell internationally.

Implementation Made Painless

Switching providers often triggers operational nightmares. Leading solutions counter this with:

• Pre-built E-commerce Plugins: 1-click integration for Shopify, WooCommerce, Magento
• Unified Crypto/Fiat Accounts: Manage all funds through single dashboard
• Smart Invoice System: Self-updating invoices with real-time exchange rates

Visit XAIGATE’s website or get in touch with our staff to find out more about our product. Finding the ideal payment option for your global company will be our pleasure!