For Jack Ma, executive chairman of Alibaba Group Holdings, today is an extremely busy and lucrative day because the company he founded 15 years ...
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Another growing payments challenge for retailers is how to handle payments on international sales. An Internet Retailer survey released in April showed that of web retailers that offer international sales, only 18.6% offered currency convertors and only 15.4% displayed the cost of the item, including delivery, in the consumer's local currency.
Not only must web merchants offer better features to international customers, those merchants have to understand the payment preferences of consumers in each country, experts say. For instance, German, French and Chinese consumers are more likely than U.S. consumers to use debit-based payments, says Clump of Retail Decisions. "It's not only credit cards," he says.