Ä¢¹½AV

Generative AI could instantly translate text into a wide range of languages, enabling retailers to reach a larger audience and quickly scale-up cross-border commerce. Data analysis and insights. Generative AI could provide real-time insights from large data sets, such as product sales or returns data, in easy-to-digest tables, charts, or briefs.

It already allows cross-border sellers on other versions of its service, including in the UK, Vietnam, Malaysia, and Singapore. The broader context: TikTok’s push into social commerce makes sense given the way in which its platform has become enmeshed in the lives of consumers—particularly Gen Z.

The news: UK-based cross-border payments fintech Paysend expanded its partnership with Mastercard to offer new remittance services, per a press release. The firms already work together in key regions like Latin America. What this means: The expanded partnership helps Paysend and Mastercard build out their respective money transfer networks.

Cross-border commerce will offer opportunities. Cost-conscious European consumers are increasingly turning to cross-border ecommerce to hunt for the best deals. Nearly three-quarters (71%) of millennials and 60% of Gen Zers in Belgium, France, the Netherlands, Portugal, Spain, and the UK are shopping cross-border several times a year, per a June 2023 report by Worldline.

It wasn't worth your while, you were better off cross-border shopping. I also don't know if Nordstrom... I mean Target definitely had issues scaling their operations. One of the "issues" with Canada is that everybody is pretty much around the US border and then there are bits and pieces of people everywhere else.

More US consumers are becoming cross-border buyers. Yesterday’s Chart of the Day: Stream another day. Methodology: Estimates are based on the analysis of survey and web traffic data from research firms and regulatory agencies, historical trends, and demographic adoption trends.

Improving cross-border payments costs and speed. Compared to neighboring countries, Australia has higher costs and slower payment speeds for cross-border payments, Lowe said, citing Swift research. More than 80% of the time it takes for a cross-border payment to reach an Australian recipient occurs in the final Australian dollar leg—which means Australian banks take the longest to process the payment.

PDD misses expectations as competitive pressures erode price advantage: The ecommerce company expects challenges to continue in the short-term as domestic and international rivals gain an edge.

Additionally, cross-border imports valued at less than $800 are exempt from US tariffs, and Chinese ecommerce platforms have exploited this loophole by having packages shipped directly from China. How can US brands and retailers prepare for the new landscape of Chinese-influenced ecommerce? Focus on improving customer relationships to build loyalty. Inflation has made consumers fickle.

The retailer is also bringing its marketplace to new regions, including Chile, increasing cross-border opportunities and growing its potential audience. Our forecast expects Walmart’s marketplace ecommerce sales to grow 12.6% this year to $8.57 billion, slightly faster than Amazon’s projected 11.1% growth.

The firm’s cross-border volume jumped 22% YoY during the quarter, down from 40% the year before. Digging deeper: CEO Al Kelly highlighted three areas that contributed to the firm’s performance during Visa’s earnings call. Issuer and fintech partnerships. Visa renewed its partnerships with Bank of America, Capital One, and Commerce Bank.

Amazon launches Temu competitor Haul to maintain price advantage against online retailers: However, growing pains like shoddy AI-generated imagery could limit its traction with customers.

In addition to cross-border hits, foreign productions with ensemble casts can also help Netflix meet the current and pending localization quotas in Canada, Europe, and Australia. Ad-supported video-on-demand (AVOD) is growing slowly but steadily. Netflix launched ad-supported plans across 12 countries in November 2022.

JPMorgan has used the tech to transfer its own assets, completing its first-ever cross-border transaction on a public blockchain in November. And Swift is pushing against disintermediation by developing its own blockchain-based solution that would make central bank digital currencies (CBDCs) and other cryptos interoperable between countries. What could the future look like?

Ecommerce International: This includes cross-border and global retailers such as AliExpress, Lazada, Trendyol, and Daraz. Digital Media and Entertainment: This group will include video content streaming platform Youku Tudou, music streaming platform Xiami Music (which was shuttered in 2021, but could be spun off), online ticketing platform Damai, and online literature platform Alibaba Literature.

Other telecom-friendly policies on the table include enabling cross-border mergers and potential telecom and carrier consolidations. These could result in a genuine single market for European telecoms. EU’s competition chief, Margrethe Vestager, supports the idea as long as it doesn’t reduce competition in individual EU countries.

These visitors are likely to spend heavily during the quadrennial event—helping bolster Visa’s cross-border payments volume, which surged 36% year over year (YoY) in the three months ending September 30, 2022. Visa CFO Vasant Prabhu highlighted strong travel spending as a growth driver last quarter. It can trial new tech before a broader rollout.

They’re ripe for digitization, and acquirers and processors will home in on top demands including centralized account management, regulatory support, and cross-border offerings, per a June 2022 Capgemini survey of small-business owners worldwide. Providers will ramp up direct sales tactics to reach this base. Omnichannel sellers.

Digital payment methods continue to displace cash and checks in the US payments ecosystem. But after a pandemic-driven crest, growth is moderating amid economic uncertainty, resetting the stakes for share of wallet.

Competition from Temu caused Shein’s revenue growth to slow in H1 2024: The fast-fashion retailer faces a challenging path ahead as regulatory scrutiny and a highly competitive environment threaten its IPO chances.

And then crypto themselves, things like remittances and cross-border payments are absolutely improved by blockchain technology. Grace Broadbent:. Yeah, I agree with that. I'd say there's a lot of use for crypto overall and blockchain technology in the payment sector like remittances and B2B payments, like Tyler said. Rob Rubin:. Are B2B payments really ready for it though?