Establishing and scaling a presence in the global Software as a Service (SaaS) industry is an exhilarating potential win. Still, the resources and operational workload that go into this adventure pose a serious threat to the viability of your SaaS company.
And, going global means more than switching languages!
International expansion means managing local SaaS payment processing, afghanistan telemarketing list tax and regulatory compliance requirements, shielding your SaaS platform from a greater fraud risk, and accepting diverse payment methods and currencies, not to mention the constant need to innovate in terms of product development.
When selling worldwide, it's important to simplify how customers pay for your products. However, it's easy to get caught up in perfecting payment processes and lose sight of what truly captivates existing and new users: your SaaS product.
So, what happens next? How can you solve payment challenges and expand internationally while focusing on your products and services?
The short answer is joining forces with a Merchant of Record.
As we discuss several advanced strategies capable of boosting your global SaaS payments, you'll quickly see why and how an MOR service provider can ease the transition and supercharge your revenue:
1. Offer Localized Shopping Experiences
With 2.64 billion online buyers in 2023, it’s natural to assume that payment habits exist amongst shoppers and, what is more, that they are in a constant state of change. For instance, debit cards are among the preferred options in the UK, whereas in the Netherlands, local payment methods like iDEAL rank on top.
Plus, considering local economies and customers’ willingness to pay, you could use regional pricing to your advantage. Streaming services, like Paramount, practice different prices based on the customer’s location. Others personalize their campaign based on cultural differences.
