According to eMarketer, global ecommerce is forecasted to reach USD 1.7 trillion in 2015, driven by growth in emerging markets including Asia-Pacific, Latin America and India. Emergent Payments is taking a new step in in the payment solutions to enable digital businesses get to markets like Latin America and South East Asia, where increased broadband connectivity and connected devices have opened up new revenue opportunities.
Emergent Payments handles all of the local compliance, VAT and cross-border challenges so that businesses can focus on delivering services to their customers – and allow customers to pay with whichever payment method they prefer.
Emergent Payment’s main product is Pay+, a turn-key payments platform that enables digital businesses to monetise products and services globally by expanding into the world’s fastest growth markets. Country-specific payment methods can account for as much as 70% of transaction volume in global markets, and there are the added complexities of local VAT calculation, collection and remittance, withholding tax, compliance and local entity requirements.
Pay+ enables digital businesses to sell globally in 180 territories, using over 200 payment methods (e.g. credit cards, debit cards, bank transfers, pre-paid cards, online bank transfers, mobile payments, e-wallets, cash-based transactions, crypto currencies, and more).
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