First Data launches local payments platform for e-commerce companies
First Data has rolled a new local payments solution to enable e-commerce firms to accept payments across the globe.
The online payments solution, dubbed First Data Local Payments, will give online firms and their clients access to 195 local payment options when fully implemented.
The platform will allow merchants to manage varying online payment methods through a single interface, using a single collection model, the company said.
First Data global head of eCommerce Shane Fitzpatrick said: “There has been a significant increase in cross-border shopping in recent years, and while geography is no longer a transactional barrier for eCommerce, payment methods can be a hurdle.
“Today, 57% of global consumers shop across international borders, and separate reports have indicated that as many as half of these people may end a sale if their payment choice is not offered.”
The launch of the new platform expands the company’s eCommerce portfolio. It now offers a range of solutions for businesses of all sizes, including the recently-announced Global PFAC Program for payment facilitators and the company’s cutting edge Fraud Detect Solution.