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Similar to 7 International Payment Strategies Of Highly Successful International Marketers T F M A 2011 95 2003 Format
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7 International Payment Strategies Of Highly Successful International Marketers T F M A 2011 95 2003 Format
- 1. 7 Payment Strategies for International Direct Mail Success Brian Weekes VP International Development PacNet Services Ltd.
- 2. The Global Economy Today The UK is a small part of the global economy Emerging economies will add 100 million new middle class consumers per year over the next 5 years.
- 10. Non-cash Retail Payment Preferences Relative importance of payment instruments in % of total transactions Source Bank for International Settlements Country Cheques Cards Bank Transfers Direct Debit Germany 0.6% 14.5% 36.2% 48.3% Netherlands 0% 37.8% 31.8% 26.5% Italy 12.5% 39% 32.1% 14.9% France 23.8% 40% 17% 19% Belgium 0.5% 41% 42.8 11.4 U.K. 10.7% 48.4% 21% 19.9% U.S.A 28.6% 54.5% 5.7% 10.4% Canada 14.8% 65.3% 11.9% 8.1% Switzerland 0.1% 38.2% 56.4% 3.8%
- 11. 5/ Convey Pricing as Simply as Possible Simple order form can be used for multiple countries: Easy to laser subscription form for CANADA. Cheques accepted in Canadian dollars. Mailed to Canadian mailbox
- 12. Localised design appropriate for key markets. Priced in Indian Rupees Range of payment options requires space. Cheque, direct debit and credit cards accepted. Mailed to an Indian postbox.
- 13. Multi-national Order Form offers prices in three currencies simultaneously. USD is the default for miscellaneous countries. If you must price in USD for a multi-national campaign, be sure to request USD drawn on a US bank .
Editor's Notes
- Preferences vary with regard to how people pay from region to region and country to country. These preferences are influenced by many things: attitude toward debt, access to technology, purchasing habits and tradition are just a few. Honouring the internet comfort level and payments culture of target markets will result in higher sales and will often lower costs. • Increase confidence of potential buyers • Increase number of available buyers, eg. people who don’t have or don’t use credit cards • Demonstrate sensitivity to local habits of foreign countries • Some local payment methods are more secure or less expensive than credit cards While cost analysis is beneficial, avoid being penny wise / pound foolish. If accepting local currency payments of a particular type will lift sales by 4% to 24%, then don’t worry if the payments will cost a little more to clear.