Due to international nature of modern merchant services market, many companies start looking for opportunities to expand their online payment processing operations to new geographies.
International payment platforms
This tendency towards global payment processing creates new challenges for expanding companies, such as having to deal with multiple international payment platforms, multi-currency operations, underwriting arrangements (granting merchant accounts) in foreign countries, and others. Entities, which have to look for international payment processing solutions, include expanding large companies, franchisors, and international payment processing software vendors. Independently of the type of a particular company, the main issues it needs to address in the context of expansion, include: prioritization of regions, prioritization of supported transaction types, handling of multi-currency international sales, and development merchant on-boarding procedures in new geographies. In order to solve these tasks, you need to have a clear step-by-step strategy in mind. An example and description of such a strategy are provided in the respective article on Paylosophy.