High-growth markets are critical engines for global economic growth, driven by digital infrastructure, rising middle-class populations, and high mobile penetration. In three years, nine out of ten Gen Z and Millennial consumers will be in these markets.
While the financial opportunities for business expansion are abundant, there are key challenges to expanding an online business into these areas. Without a local entity, for example, online merchants run the risk of high foreign exchange fees and poor authorization rates in high-growth markets. Partnering with a Merchant of Record, meanwhile, allows international businesses to trade like a local one, without setting up a foreign presence.
This series of guides helps merchants build and execute their globalization strategies. This first edition outlines the key opportunities in UAE and Colombia, including preferred payment methods, local consumer trends, and how to address regional obstacles.
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