European direction part 2

Previously, the question of transcontinental trade was opened. So, let’s get further investigation and get more information about other large European markets.

Specific Russian market

One more peculiar market, that cannot be discounted, is the Russian one. Russia is taking giant steps towards electronic commerce development. Owing such conditions, the country counts a number of payment methods to choose from. They include eWallets like QIWI, WebMoney and Yandex.

The major popularity belongs to QIWI. Several worldwide companies appealed to it, aiming to operate in the Russian direction. WebMoney tries to maintain its high level as well. The title of the largest electronic payment service refers to YandexMoney, which was created as a joint venture of Sberbank and Yandex.

Despite the significance of the Russian market, there are a lot of language and payment options’ circumstances, impending the running e-commerce business internationally.

Dutch market

Not the largest market but still in demand in e-commerce is the one in Netherlands. There customers used to commit payments through iDEAL. This local payment method permits to pay for any kind of goods and services online. Cooperation with this system is essential to enter the Dutch market.

Pre-paid cards growing pace in Italy and Turkey

italian market

The fifth place by scale of the e-commerce belongs to Italian market. In general, it has a cash-based economy. Looking for more security and savings Italians prefer using pre-paid cards, by the way, Postepay cards are the most famous. However, credit cards implementation still remains on the top. Among cards CartaSi can be mentioned, which is co-branded with MasterCard and Visa.

Another country, in which prepaid cards experience high interest from the customers side, is Turkey. Moreover, this place is mostly focused on mobile payments, owing to its young mobile population. This country is really geared towards foreign merchants. On the other hand, to enter Turkish market there are some regulation requirements:

– credit card payments are of great demand, but they could be used, if there is connection to individual banks;

– payments can be committed only if linked to local acquirers. Otherwise, buyers obtain surcharges.

Online banking preference is the case of Poland and Sweden

There are two markets, were online banking is preferred. This method is a feature of Poland and Sweden. In the last one, online banking is proceeded through the three major banks: Handelsbanken, SEB and Nordea. After all, credit cards stay the most popular way to pay online here as well.

These two markets are relatively easy to enter also. One tip to be aware about Poland, is that cardholders should register their cards, while making the first purchase or the card will be declined for another shopping.

As for Sweden, it is in the lead in using invoice payments, which is the second payment method by popularity after credit cards.

Whatever country, credit/ debit cards still the favorite. Spain and Ireland markets

Credit and debit cards spread their usage for two more big economies: Spain and Ireland markets. It must be said, that besides the cards, in Spain prepaid cards are also strongly favored. This country also recommends to foreign merchants to connect the local acquirers in order to get more successful cooperation.

Nowadays world is full of ambitious and prospering businesses, which seek for expansion and growth. There are so many directions to devote company’s forces. In fact, there is no question of determination, there is one of action!