Local payments, BNPL and multi-currency accounts: how we increased our clients conversion rates in foreign markets.
Money20/20 Europe makes one simple thing clear: payment is not a technical detail, it is part of the product.
The local payment method matters more than price
In the Netherlands you need iDEAL, in Germany invoice payment, in the Gulf cash on delivery and local wallets. We have seen double-digit conversion gains just by adding the right method at the right moment.
BNPL is mature, no longer a trend
Klarna and Scalapay now handle significant average baskets. They work well for furniture, electronics and fashion; far less for low-margin products.
Multi-currency and FX
Collecting in the customer's currency and managing FX with dedicated accounts removes hidden costs that, at international volumes, are worth margin points.
Conclusions
Before spending another euro on advertising, fix the checkout. It is the cheapest and fastest lever we know.
CEO & Co-Founder of BusinessLabs. I have attended major international trade shows since 2015 and share here experiences and insights for online sellers.
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