Headline article image What Cross Border Commerce means for your business

What Cross Border Commerce means for your business

As retailers enter into the busiest shopping period of the year, Clearpay has released one of its most exciting capabilities to date: Cross-Border Commerce for merchant partners. But what does this mean and how will it benefit your business?

Put simply, retailers who already offer Clearpay’s Buy Now Pay Later payment option at checkout will be able to open their digital storefronts to shoppers in Australia, Canada and New Zealand. Next year, the U.S. will be added allowing merchants to sell to customers across America.

This development is an exciting milestone for you, our valued merchants, and Clearpay. Cross Border shopping represents a $1 trillion GMV opportunity and will allow even more retailers to gain access to Clearpay’s young and engaged customers across the world.

How does it work?

When a customer drops an item into their basket, they’ll see the price in their local currency. They’ll also continue to benefit from the flexibility and convenience of paying in four instalments over time, without incurring interest, fees or revolving and extended debt. Participating retailers can also open their storefronts to shoppers without paying set up or currency conversion fees.

What kind of growth can retailers expect?

Clearpay first introduced Cross Border shopping in Australia and New Zealand (ANZ) in March 2019 and this delivered YoY sales growth of nearly 576%. Because of such strong consumer demand, the number of ANZ merchants that are now selling outside their home country has grown by 10 times.

What our retailers say

"We have been very pleased with our Cross Border implementation. It has been seamless and very effective in scaling our efforts abroad as we grow globally,” says Justin Gaggino of Hi-Smile, an early adopter of Clearpay’s Cross Border offering. “We have seen an approximately 30% increase in overall orders come through our cross border partnership with Clearpay.”

“Cross Border trade allows retailers to open their storefronts to the world - delivering new customers, higher conversion and ultimately more merchant sales, without additional set-up costs or fees,” said Nick Molnar, Clearpay’s Co-founder. “We are particularly excited to offer cross border capabilities at a time when consumers are buying online more than ever and in advance of this busy Christmas shopping season.”

We can’t wait to roll out Cross Border commerce across the UK, and we look forward to seeing how it enables you to scale your business in 2021.

Learn how you can take advantage of our cross-border commerce opportunities by scheduling a meeting with one of our Retailer Team Members today at sales@clearpay.co.uk

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Written by
Clearpay Marketing
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