According to a survey by payment processing firm Chase
Paymentech, 30 percent of the 200 businesses questioned had
international growth plans within the next two years, but most
did not have the payment systems in place to properly support
European customers.
The survey, conducted by research company Dynamic Markets for
Chase Paymentech, also found that 77 percent of companies that
were already trading internationally felt that their payment
systems were not set up to meet the demands of European
customers.
Further, many UK merchants seem to be overlooking the hurdles of
cross-border sales in their rush to target European consumers.
Eighty-six percent of respondents that trade overseas stated that
their card-not-present processing was “fragmented”,
making operating outside of the UK more challenging and
expensive.
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