- Media OutReach - July 02, 2020 -
Ceevo today announces the launch of its
automated-onboarding (AOB) payment gateway solution across Europe, offering
local merchants a fast and simple plug-and-play payments solution. Find out how
we can help them capitalise on growing cross-border ecommerce opportunities at www.ceevo.com.
the company's international reach and financial and technological expertise,
Ceevo handles all the complexity of international payments including security,
regulations, and a vast range of payment options so merchants can focus on
growing their businesses.
Challenges of Cross-border Ecommerce in Eastern Europe
Europe is one of the fastest growing ecommerce markets on the continent,
growing at a steady rate of 10.3% year-on-year, the region's merchants remain
hugely underserved: many international providers are yet to actively target the
region, and domestic players are unable to provide the right solutions and
services to support businesses with international ambitions.
solutions are tailored to meet the specific needs of merchants looking to
process online payment transactions for their customers in the EU (European
Union) and international markets. While the Ceevo solution is available to all
European merchants, Ceevo believes that Eastern European merchants are
particularly underserved and that its solution will bridge the payments gap for
these merchants who are keen to expand out of their homegrown markets.
A recent Ceevo survey
of small online retailers in East Europe revealed that the top two concerns for
small online retailers payments are security (42%) and cash flow
management (21%), while unaccepted payment methods (30%) is cited as the most
frequent problem experienced at checkout.
of respondents also stated that most of their sales were made cross-channel and
via marketplaces like Amazon and eBay. The top three concerns for these
businesses in cross-border payments are currency and payment processes and
adapting to real-time exchange rates (25%), customer support and service
(24.17%) and reconciling payments from other countries (23%). Respondents also
cited the integration of digital payments and the challenges of keeping up with
rapidly evolving consumer trends, along with complex EU regulations, as
barriers to exploring opportunities for growth outside their home
markets. The Ceevo automated onboarding and payment gateway solution incorporates the latest technology tools to
address these concerns and provides merchants with a seamless solution to
participate in the digital economy.
Philip Meyer, Group CEO of Ceevo said, "Inevitably, many small online retailers are missing out on
the opportunity to sell their goods and services internationally and are
therefore unable to scale their businesses if they are not able to accept
payments from any prospective customers. The reality for small businesses is
that they're worrying about payment technology when they should be focused on
running their businesses - something we felt was very important to address by
providing a user-friendly solution which caters for local languages and rapid
Empowering Businesses to Accept Almost Any Type of Payment from Anywhere
tailored its payments solutions to directly address the challenges faced by
these businesses. It offers fast and automated onboarding without additional
compliance overheads, self-service support that includes public documentation
and a customer support section to help merchants troubleshoot payment issues.
Ceevo also provides intuitive dashboards that enable easier multi-channel
management to have your business operating soonest.
Philip Meyer further
commented, "With Ceevo payments we want to empower merchants to sell to all
their potential customers across the EU markets and beyond. We want to be a
champion for small businesses and enable them, through our services, to focus
on the things that matter instead of the confusing world of payments. Our
solutions will make it easier for customers to accept payments from anybody, in
any currency, from anywhere in the world without needing legal or technical
expertise. We look forward to partnering with more types of merchants than ever
before and supporting the next wave of businesses fueling growth in Europe and
the rest of the world."
Ceevo is a new
product launched by the Ceevo Group - formerly known as Net1's International
Payments Group, comprising of Transact24 and MasterPayment. The Ceevo Group is
a leading international payment services provider offering payment processing,
credit and debit card acquiring, transaction security and regulatory compliance
services. It is a subsidiary of NASDAQ-listed international financial
technology solutions provider, Net1 UEPS Technologies Inc (NasdaqGS: UEPS, JSE:
The issuer is solely responsible for the content of this announcement.