FinTech Magazine August 2019 | Page 31

SMOOTH TRANSACTIONS
deal with a branded marketplace like eBay , Amazon or AliExpress – it ’ s like if you live in a small town you will deal with the local restaurants , but if you travel abroad you might choose McDonald ’ s or Starbucks as you know exactly how they work .”
While in the US , around 60 % of ecommerce is done by independent retailers , China has yet to catch up and is still building trust . Generally though , customers the world over are more likely to buy foreign goods through a well-known international platform . “ In cross-border retail , most transactions are still done through Amazon , eBay , or other established brands in the marketplace ,” says Qu . “ However , we are seeing a shift because more and more consumers feel confident to buy foreign goods from retail stores directly .”
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With the rise of omnichannel retail , the payment experience becomes more and more important as consumers demand more choice and a smoother transaction whether instore or online . This needs to run like clockwork on international platforms and at electronic
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