Source: CellPoint Digital
CellPoint Digital, the global leader in Payment Orchestration, today announces a new partnership with Reach, a payment platform that simplifies how businesses sell cross-border--enabling merchants to process payments locally while selling globally.
An estimated 30% of eCommerce sales are now cross-border, but for businesses to accept payments in-country, many traditional payment acquirers require merchants to have in-country business entities - which can cause costly and complex operational challenges.
Reach solves this common pain point by using a Merchant of Record model that allows merchants to process in-country worldwide without having a local entity. In this way, merchants can avoid the process of establishing foreign entities in multiple markets while still benefiting from higher in-country approval rates and bypassing more expensive cross-border interchange fees.
Additionally, Reach offers cost-effective and streamlined cross-border transactions for any industry or use-case, helping customers in B2B, SaaS, marketplace, and retail.
Commenting on the partnership, CellPoint Digital Global Head of Revenue, Greg Worch, said: “As the pioneers of Payment Orchestration we know how important it is to allow customers to shop in their local currency and pay how they choose. Reach’s global network takes the border out of cross-border payments by processing transactions through entities local to merchants’ customers and in their local currency.
“The partnership with Reach is another way we are advocates for merchants, helping them navigate a payments ecosystem that’s not traditionally set up for their benefit, and overcome a huge obstacle to growth as they expand cross-border.”
The growth of cross-border transactions has presented several issues for businesses looking to scale further and expand their base of customers. The combination of CellPoint Digital’s Payment Orchestration Platform combined with simplified cross-border services is another win for merchants.
Another win for merchants is how well this partnership allows Reach and CellPoint to leverage their key competencies. Reach provides multiple payment methods, supports 36 languages, and offers in-country payments, while CellPoint Digital optimizes the payment experience and provides businesses insight into the payment ecosystem to maximize approvals, lower costs and take greater control of payments.
Matthew Steinbrecher, VP Partnerships at Reach, added: “At Reach we recognize CellPoint Digital’s position as the global leader in Payment Orchestration and strongly believe we are aligned technically, commercially and culturally. Our companies and solutions are complementary and transformative, both aiming to solve major operational challenges that have stymied merchants’ expansion.”
The partnership is the latest in CellPoint Digital’s ongoing commitment to offer easy-to-implement solutions that help merchants solve cross-border, operational and technological challenges and simplify back-office complexities.