PCN Magazine | Thought Leadership
E-commerce and payments leader Nexway sees geographic expansion driving the future
of online sales as digital solutions bring down barriers.
E-commerce Health Check
Nexway wanted to better understand the impact of the Covid-19 crisis on e-commerce and payment priorities, and here are the results as shared by Casey Potenzone, CSO at Nexway.
The year 2020 has brought radical changes to lifestyle and work habits that nobody could have predicted, and one thing we can say for certain is the demand for e-commerce has never been greater.
Previously held beliefs about the limits of online shopping versus the in-store experience are fading as customers of various generations in search of different product types suddenly get more comfortable with the idea of digital shopping. In response, companies are reconsidering opportunities to expand their global reach to new foreign markets in places where the return on investment in the past seemed too low.
E-commerce is growing, and with it comes an increasing demand for third-party Merchant of Record services. A Merchant of Record (MoR) can be an entity that operates a webstore or platform to manage interactions with its customers, sellers (sub-merchants) or suppliers. MoRs provide due diligence and oversight over all commercial activity that happens on that platform, including managing transactions and refunds, maintaining a direct relationship with payment service providers and providing billing-related customer support.
As a result, companies now have the unique opportunity to expand into markets which have previously been too expensive, unknown, or complicated. Incremental expansion to high-potential markets like Brazil and China, when done right, can contribute significantly to the bottom line.
ABOUT NEXWAY
Nexway SAS is a software and service company for e-commerce and payment. We expand the sales potential of software, retail, and services companies across 140 countries. Our customers rely on Nexway to power their subscription models, manage local payment methods, prevent fraud, engage resellers, deliver key customer insights, and beyond.
About Casey Potenzone
Chief Strategy Officer, Nexway
Casey Potenzone joined Nexway in 2014 and currently serves as Chief Strategy Officer and a member of the company’s executive team. A seasoned technologist with a history of developing new applications and business models around innovative technology, he has been awarded multiple patents. Prior to joining Nexway, Casey previously worked for Arvato, Uniloc, Avangate and MTV.