This episode was recorded at the Money 20/20 event in 2019. On this episode, PaymentsJournal’s editor-in-chief, Ryan McEndarfer, sat down with Steve Villegas, the VP of Partner Management and head of the U.S. Office at PPRO.

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PaymentsJournal:

Welcome to the PaymentsJournal podcast. I’m your host Ryan Mac, and on today’s episode we’re going to be talking about cross-border and e-commerce. To help me with this conversation, I have Steve Villegas, the VP of Partner Management and head of the U.S. office at PPRO. During our conversation, we’re going to be taking a look at why U.S. merchants need to look locally and expand globally and how local payment methods help facilitate the needs of economies across the globe. This episode is being recorded at the Money 20/20 2019 event. There’s a lot of information to unpack, so without any further delay, let’s start the show.

So Steve, thank you so much for joining me on today’s
episode. For our first question here, I’d love to take a look at this phrase
and what it is that it means to you at PPRO. Why do U.S. merchants need to look
locally to expand globally?

Steve Villegas:

Hi Ryan. First of all, thanks again for having me. When you
think about merchants expanding and what that means for a global expansion,
most U.S. merchants are very familiar with cards. They all accept credit cards,
all of us here domiciled in the U.S. are very familiar with them. But when you
expand and look globally, around 77% of all e-commerce is transacted with
something other than a credit card. It could be a local payment method specific
to wallet, or specific to a bank transfer method, or maybe a local card that’s
not a credit card per se, but it’s associated with some type of bank network.
So if U.S. merchants are really looking to go global, even across border, if
they’re looking across to Canada or even Mexico, which are not too far from the
U.S., those countries have some of the dominant payment methods they’re using
other than credit cards. In those environments, it’s going to be very important
for U.S. merchants to take advantage of that marketplace and sell goods and
services in that marketplace. They have to be able to accept those particular
payment methods that are generally accepted by consumers in those countries.

PaymentsJournal:

Wonderful, thank you for that explanation. I think that