Today PayPal announced they are launching PayPal Global Sellers, a new service to help small to medium-sized business (SMBs) sell internationally.
PayPal Global Sellers tackles the most common problems with cross-border trade:
- Website Translation
- Taxes/Duties Presentment
- International Shipping and Return Facilitation
- Localized Payment
PayPal partnered with Webinterpret to provide these valuable services at no charge to PayPal merchants. The Global Sellers service is available to U.S., UK, and German merchants now.
The company expects to expand the service to more countries in 2017.
TRANSLATION SERVICES IN UNDER A WEEK
One of the best benefits of this new program is that PayPal will offer to translate for free websites in under a week. This feature allows merchants to provide a localized version of their store.
Na’vi Organics, an early PayPal Global Sellers beta merchant, has launched 55 localized versions of their store and are now accepting payment in 25 different currencies.
The company also implemented the other PayPal Global Sellers services and showed remarkable growth in short time. In just six weeks, Na’vi Organics realized a 72% increase in revenues by expanding their business globally!
PAYPAL STUDY SHOWS GROWTH FOR CROSS-BORDER SELLERS
While certainly, Na’vi Organics’ rapid international growth is likely out of the norm, PayPal did release a study showing cross-border trade is a tremendous opportunity.
The PayPal study showed that from 2015 to 2016, SMBs who started to export products using PayPal saw an average of 33% growth in sales. This study is based only on using PayPal for payment processing.
Since the Global Sellers Program did not exist then, it is easy to see the potential for even better growth utilizing the new service.
By offering a service to localize websites, PayPal is reducing the barrier of entry to global sales. Customers prefer to shop in their own language and the Global Sellers program makes this possible.
PAYPAL PROTECTION INCLUDED
Of course, as it is standard now, PayPal will continue to provide PayPal protection to global transactions. This protection reduces the chance of fraud, returns, and claims.
Global selling is here to stay. PayPal’s Global Sellers program seems to address many concerns by SMBs. And one cannot argue with the price, Free!