PayPal introduced Global Sellers, the newest cross-border trade service that helps small and midsize businesses in the U.S. increase their international presence and sales.
The program addresses common cross-border retail barriers such as website translation, taxes/duties presentment, international shipping and return facilitation, localized payments and more.
Other attributes to the service include allowing consumers to shop in local currencies; a localized and secure checkout; low-cost options for shipping from the U.S.; and product visibility in 60 countries.
"This is the first time PayPal is offering a comprehensive set of tools for SMBs that remove pain points to help them expand globally, including translation, currency, shipping and returns—it is a completely new program," Melissa O’Malley, director of global initiatives at PayPal, told FierceRetail. "The PayPal Global Sellers program builds on our leadership in the global payments space and provides merchants the additional capabilities they need to easily create translated versions of their site, making their products searchable internationally while enabling international buyers to shop in their own language and currency—all at no additional cost to the merchant."
One of the first brands to implement Global Sellers is Scotland-based Na’vi Organics, which has launched 55 localized versions of their store and can accept payment in 26 different currencies through PayPal. Na’vi reported a 72% increase in international sales in the first six weeks after implementing PayPal Global Sellers.
Na'vi had always received interest on their website from international visitors, but these users never converted as well as their domestic ones. With a small team, running international versions of their store was not a realistic option, so Na'vi partnered with PayPal and after a simple plug-in was installed, the retailer was able to sell internationally with ease.
"There is a big opportunity for SMBs to scale globally—less than 5% of all U.S. small businesses export—and they are missing out on the associated benefits of doing so. In fact, recent PayPal data shows that small businesses that use PayPal grew 22.9% year over year and those using PayPal are far more likely to engage in exporting than traditional U.S. small businesses," O'Malley added.