Many U.S. eCommerce merchants prioritize international markets but see higher failed payment rates in cross-border transactions than in domestic ones. These payment failures significantly impact their bottom line. PYMNTS Intelligence estimates that failed cross-border payments cost U.S. merchants at least $3.8 billion in lost sales in 2023.34%: Share of merchants that derive at least half their sales from international markets
Most of these merchants struggle to identify the underlying causes of these failed payments, leading to other costs, and compounding their losses. These findings highlight the critical importance of merchants collaborating with payment service providers (PSPs) to implement effective cross-border payment solutions. Read more about the study…
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