Report: Cross-Border eCommerce on the Rise Worldwide
11-19-2019
A recently released report from Payoneer Inc. has found that the third quarter of 2019 (Q3 2019) saw impressive growth worldwide in ecommerce revenues cross-border.
According to Payoneer’s Global Seller Index: Q3 2019 report, cross-border ecommerce revenue grew by 49 percent in the United States, putting it second in the top ten countries by revenue. The United Kingdom, fourth in overall Q3 revenue, grew 56 percent year-over-year, good enough for the top spot for cross-border ecommerce growth.
Ukraine grew 52 percent year-over-year, the second highest growth rate, while China – the number one country by overall revenue – grew by an impressive 33 percent year-over-year. Japan had the lowest year-over-year growth, registering only three points higher than last year, but it still occupied the seventh spot in the top ten countries by overall revenue.
According to the report, analysts are expecting a 35 percent increase in cross-border ecommerce sales this holiday season; sellers are expecting another record-breaking year due to increased consumer access and growth in the seller community. Cross-border ecommerce over the holidays is expected to increase 95 percent in the United Kingdom alone, the report found.
Click here to read the report.
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.
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