The Google-Ingenico Partnership:Growth of E-Commerce in Europe

The Unique Advantageo E-commerce in Europe, has received a shot

in the arm with the announcement of the partnership between the king of search engines, Google, and Ingenico Payment Services.

o The two companies have the unique advantage of pooling in their respective expertise to provide the perfect answer to the merchants by tapping potential business and successfully converting them into sales .

Opportunitieso The Export Accelerator (Joint venture between google

and ingenico) will be launched in Belgium which has a multi-lingual market that is reported to also have a great e-commerce potential.

o According to Forrester, the European cross-border online sales are expected to grow by a compound annual growth rate (CAGR) of 11% over the next five years and are forecasted to reach €40 billion by 2018. 

Opportunitieso Recently, cross-border sales accounted for 16% of

all Western European online retail sales.

o The global B2C cross-border e-commerce market will balloon in size to $1 trillion in 2020 from $230 billion in 2014, according to a report from global consulting firm Accenture and AliResearch, Alibaba Group’s research arm.

Challenges in cross border E-commerceLanguage Barrier

Fraudulent transactions

Longer delivery times

Higher delivery costs

Addressing consumer rights

Some interesting factso The online retailers generate more page

views than news sites and they need to cash in on this market reach by monetizing the visitor visits via Google Adsense or DoubleClick

o The British online retailers are closed to the idea of generating revenue via Ads unlike their counterparts in the US

Anti trust Violations of Googleo Google also recently announced a “buy

button” on paid search list that will enable customers to buy a product within a single web page.

o Investigations by the European regulatory body try to find out if Google favours its own products in search results over its rivals’ services.

What Google will offer through the partnershipGoogle will provide analytics tool which will help to

Get more opportunities

Build relevant solutions

Identify potential buyers

Generate more traffic

What Ingenico will offer through the partnershipIngenico will leverage its superior payment technology to

Enable local payment

Enable advanced payment

Online Fraud Management

Risk Management

What the companies are expecting?“The Export Accelerator is a great way to help Belgian businesses to grow online. Businesses that invest online grow twice as fast as companies that don’t. It’s our goal to inspire as many Belgian entrepreneurs as possible to make use of the opportunities provided by the web.  There are 11 million consumers in Belgium; the 2.5 billion potential consumers worldwide provide a huge export opportunity. This collaboration with Ingenico Group will make it easier for Belgian businesses to tap into that potential.”

Thierry Geerts, Country Director, Google Belgium 

“We are very pleased to team up with Google and to leverage our position in the payment ecosystem. This cooperation demonstrates our ability to continue to simplify payments for merchants while helping them to easily and securely expand across borders.”

Stephen Buechner, EVP e-payments at Ingenico Group

What the companies are expecting?

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For any queries on E-Commerce

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