A survey by e-commerce solutions company WorldPay of 200 global retailers revealed that only three percent of Web sites offer multi-currency payment facilities and less than one in five offer international delivery. Furthermore, only 62 percent of the world's -top" retailers have an online shopping channel.
-It is disappointing that firms who spend millions on physical stores and beautiful Web sites ignore the Internet as a global revenue generator," said WorldPay business development director Adam Kerr.
-Without multi-currency payment options, multilingual capabilities and international delivery, retailers are ignoring millions of potential overseas shoppers who buy from the Internet for its convenience and accessibility," Kerr said.
He explained that multi-currency payment processing is vital to an online store as it enables shoppers to make an accurate value for money judgement.
ZDNet Australia found that some of Australia's well-known retailers were among the long list of global online stores ignoring the potential for a wider business reach.
Local online retailer Estore admitted that it does not offer multi-currency payment facilities or international delivery, which a spokesperson for the company said is mostly to do with freight costs, which outweigh the savings that can be made from purchasing online.
-Another reason is fraudulent orders are more likely to come from overseas, which are harder to check," the spokesperson said.
Australian retailer David Jones also does not provide multi-currency payment facilities and delivery for international punters, according to a spokesperson.
Heres are one of the big reasons why Aus e-tailers
don't take overseas credit card orders..
Visa/Mastercard REFUSE to do destination verification, thus the merchant has NO way of verifying the authenticity of the person placing the order. We found that 99% of all our fraudulent orders were from overseas, and 99.9% of them could have been avoided had we been able to validate the delivery addres..
However, American Express happily do verification for us, and hence why it's the ONLY credit card we accept for international orders.
Anthony