Payscout Inc.

Is your business ready to tap into the international ecommerce market? If not, you could be losing out on access to millions of potential consumers and their online purchases. The global business-to-consumer ecommerce market was valued at $230 billion in 2014, but is expected to reach $1 trillion by 2020, according to a report from global consulting firm Accenture and Ali Research, the research arm of Alibaba Group. This marks a pivotal opportunity for small- and mid-sized firms and global entrepreneurs who are interested in tapping into emerging markets. Cross-border ecommerce is a segment of the globalB2C market where consumers make online purchases from businesses physically located in other countries. One of the easiest and most secure ways to facilitate global ecommerce is through an international payment processing system. Experts estimate that by 2020, international ecommerce will account for almost 30% of global B2C purchases. According to the report, more

The global mobile payment market was valued at over $600 billion in 2016 but is expected to surpass $4,574 billion by 2023, according to findings published by Allied Market Research. That is a compounded annual growth rate of 33.8%. The Asia-Pacific region accounted for the most revenue in the mobile payment market in 2016,a trend that is likely to continue in coming years. In that same year, the retail industry accounted for nearly one-third of mobile market transactions, but the hospitality and transportation industry exhibited the fastest growth rate. Other industries listed in the report as also benefiting from the rise of mobile payments include healthcare, energy, and utilities. The term “mobile payments” refers to any transaction for a product or service that is made through an app, website, or mobile payment processing system on a smart phone, tablet, or other mobile electronic devices. In most cases, payment information is encrypted for security purposes.