Going Global as an Independent Website: Localizing Payment for the Last Mile

The era of 'traffic is no longer king'

In the past, independent websites achieved order growth by attracting a large amount of traffic, but as market competition intensifies and consumer habits change, the impact of traffic on the operation of independent websites is gradually decreasing. Fine-tuned operations have become the new business logic, where every aspect from UI design to payment experience has a significant impact on order conversion. Data shows that the order conversion rate is only 3.3%, and the strict privacy policy after iOS 14.5 update has also increased the cost of user acquisition.

Smooth out the localization of the 'last mile'

Independent websites face traffic from global markets, with notable differences in consumer habits and payment rules in each market, and the payment process is the 'last mile' to complete orders. Different markets have varying demands for localized payment experiences; for example, Southeast Asia prefers COD (cash on delivery) while European and American consumers are used to credit card payments. Imperfections in the payment process may lead to potential order loss, and the settlement process also directly affects the actual profit of independent site sellers.

When facing this difficult problem, Airwallex launched a global collection solution in the cloud, supporting over 160 payment methods in more than 180 countries and regions worldwide. This means that independent stations can provide more suitable payment methods for the majority of online shopping users around the world through the Airwallex cloud solution, achieving deep localization.

Choice of local payment methods for local consumers

For consumers shopping on independent sites, localized collection solutions allow local consumers to choose payment methods that are more suitable for them. This is a great convenience for consumers and can increase their satisfaction with shopping on independent sites.

Seller's choice of collection methods

The Airwallex global collection solution supports multiple settlement currencies, such as dollars, Hong Kong dollars, euros, etc., which can effectively reduce sellers' exchange losses. Sellers priced in dollars can directly settle in dollars and use dollars to pay suppliers and advertise, reducing foreign exchange costs, to a greater extent ensuring the profit of each transaction.

Increase independent site order conversion rate

The AirCloud currency exchange service first supports a seamless payment experience without redirection, allowing consumers from around the world to achieve a "smooth shopping" experience through the independent station payment plugin, thereby increasing the order conversion rate of independent stations. The speed and convenience of this payment method can attract more consumers to complete their purchase.

Simplify Global Operations

In global operations, selling goods is only the first half, while collecting payment and making funds flow is the incremental key in the second half. AirCloud currency exchange provides independent station merchants with a full-chain fund experience, solving the needs of broad and powerful business partners. Companies can manage cross-currency revenue through AirCloud currency exchange's global corporate account, perform currency exchange, and make payments through global payment channels or payment cards, meeting the needs of enterprises in operations for collection, management, and payment.

Powerful Technical Support

AirCloudPay relies on long-term financial technology research and development strength, holding multiple national government-issued payment licenses, such as Mainland China, Hong Kong, Singapore, the United States, the United Kingdom, Australia, etc., ensuring the localization and global compliance of the payment process. By providing safe, compliant, and efficient collection and payment services, AirCloudPay is committed to helping independent online sellers achieve stable business growth.

AirCloudPay has become a 'fintech unicorn' sought after by top venture capital institutions such as Sequoia Capital and Hillhouse Capital, providing localized professional services for global payments in 19 office locations worldwide. Through its comprehensive financial technology solutions, AirCloudPay not only helps enterprise clients reduce payment waiting times, save costs, but also provides stronger support for cost reduction and efficiency improvement for enterprises going global.