New Ceevo product to allow European merchants access to streamlined payments solutions

Supported by the company's international reach and financial and technological expertise, Ceevo handles all the complexity of international payments including security, regulations, and a range of payment options so merchants can focus on growing their businesses.

While Eastern 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 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.

Ceevo's solutions are tailored to meet the specific needs of merchants looking to process online payment transactions for their customers in the EU 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.

Moreover, 32.5% 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 technology tools to address these concerns and provides merchants with a solution to participate in the digital economy.

Ceevo is a new product launched by the Ceevo Group - formerly known as Net1's International Payments Group, comprising of Transact24 and MasterPayment.