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Payments Resources

Payments Resources

Local Payment Methods in Indonesia: How Dana Works in an International Payment Gateway

The eCommerce scene in Indonesia is a lucrative and burgeoning market, evident with its current placement as the 10th largest eCommerce market in the world with a revenue of USD 52.9301 B this year, putting Italy in 9th place¹. The market is certainly a healthy one with a CAGR of 10.4% and has contributed 17% to the global eCommerce market growth rate¹. This makes Indonesia a prime choice market for any prospecting eCommerce business looking to venture into the international marketspace, especi

Mar 15, 2023

3 min of read

Payments Resources

Synchronous vs Asynchronous Payment Methods: How They Work in an International Payment Gateway

The savvy e-Commerce merchant knows that when it comes to payment methods, they are spoiled for choice. Knowing how many to take on, and the suitability of each in any given market, is a crucial matter entirely that could spell the difference between success and mediocrity in the sphere of e-Commerce. Generally speaking, it is good business sense to have multiple localised payment methods on hand to both increase your odds of successfully integrating into the local market ecosystem and reducing

Mar 9, 2023

3 min of read

Payments Resources

How having Local Payment Methods in your Payment Gateway Helps Increase Conversions for your eCommerce Business

Having a variety of local payment methods in your payment gateway is generally good business sense, since it can help prevent chargebacks and other potential setbacks when compared to relying on only a single local payment method. Another benefit of having multiple local payment methods in your payment gateway is that it also goes a long way towards increasing conversion rates for your eCommerce business. Here’s how they make it possible to do so, and how to further increase your conversion rat

Mar 7, 2023

2 min of read

See all 34 Posts

Product Info

Omoney Named to the 2023 CB Insights' Fintech 100 List

CB Insights today named Omoney to its sixth-annual Fintech 100 ranking (previously the Fintech 250) - showcasing the 100 most promising private fintech companies of 2023. "Representing 24 different countries across the globe, this year's Fintech 100 is shaping the future of real-time payments, spend management automation, embedded finance, and more," said Chris Bendtsen, Lead Fintech Analyst, CB Insights. Together, they are not only increasing the pace of innovation, but launching new products

Oct 4, 2023

2 min of read

Omoney Secures MPI Licence from Singapore's MAS, Bolstering Its Cross-Border Payment Capabilities

Coupled with the successful closing of our series A funding of USD 16.9 Million, Omoney is better positioned than ever to transform the way cross-border e-commerce merchants operate especially in sectors such as travel, education technology, fashion & apparel, gifting and gaming.

Aug 3, 2023

2 min of read

Payment Gateway Features: Native Checkout API for Beginning eCommerce Businesses

In the burgeoning and competitive scene of the eCommerce market, prospecting merchants need any advantage they can get. One way of doing this is by providing a smooth and pain-free UX since it can make the difference between making a profit and seeing a rise in cart abandonment. This is compounded further as businesses look to scale up since they would need to improve upon the bells and whistles that they have, with priority given to their payment gateways. A fledgling online business might be a

Mar 28, 2023

4 min of read

See all 23 Posts

eCommerce Tips

Navigating Cross-Border Chargebacks – Tips for Merchants

eCommerce gives merchants access to a global audience. Via digital payments, anyone in the world can be your customer. The simple shift to online shopping resulted in a complex, worldwide eCommerce marketplace. But global access also creates challenges, specifically with disputes and chargebacks. Standard domestic chargebacks on a regular day are difficult and costly—the problem only grows more complex with international payments. From changing country regulations to different payment processin

Sep 29, 2023

4 min of read

How having Local Payment Methods in your Payment Gateway Helps Increase Conversions for your eCommerce Business

Having a variety of local payment methods in your payment gateway is generally good business sense, since it can help prevent chargebacks and other potential setbacks when compared to relying on only a single local payment method. Another benefit of having multiple local payment methods in your payment gateway is that it also goes a long way towards increasing conversion rates for your eCommerce business. Here’s how they make it possible to do so, and how to further increase your conversion rat

Mar 7, 2023

2 min of read

Card Authorization Rates: a Consideration for Your eCommerce Business's Payment Gateway

Your eCommerce business is booming. It is as secure as it can ever be and has multiple localised payment methods to help decrease checkout abandonment. However, a customer attempts to pay by credit card, but leaves after being notified that his payment was not authorized. Card payments still remain one of the most popular payment methods in the world despite the emergence of newer payment methods. Therefore, it is important to take note of your eCommerce business’ card authorization rates and le

Feb 28, 2023

4 min of read

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Insight & Trends

Insight & Trends

The Online B2B Payment Landscape in India for 2022

What can anyone presently venturing into India’s B2B e-commerce market expect? Based on a 2019 report by management consulting firm RedSeer, India’s B2B e-commerce market is expected to outgrow B2C e-commerce with a compound annual growth rate (or CAGR) of 80%. By 2025, it is expected to reach USD60 billion.1 With B2B markets thriving (thanks in part to COVID-19 which disrupted the traditional supply chains), these are exciting times to evaluate B2B payment gateways that can support your online

Feb 11, 2022

7 min of read

Insight & Trends

Online B2B Payment Trends in Singapore 2022

Singapore’s a digitally literate nation with an 88.9% internet penetration and a 97.9% financial inclusion rate amongst the 5.87 million people that make up the nation’s population.1 Because of this, the local online business environment has adopted digital means of payment like fish to water. This is as evidenced by the fact that roughly 52.3% of all Singaporeans have purchased goods via the internet as of 2021, signaling an increase in the adoption of e-commerce among firms, with the smallest

Jan 28, 2022

10 min of read

Insight & Trends

Got Your Shipment Delayed and Already Processed the Payment? Suez Canal Blockage Might Be The Reason!

What is the Suez Canal? The Suez Canal is a 193 KM artificial man-made canal – making it the world’s longest canal with no blocks. It is a very busy trade route & has been the shortest sea link between Asia and Europe since 1869. Courtesy of britannica.comImportance of Suez Canal With the responsibility of 30% container-ship traffic daily, these waterways saw 18,800 vessels pass in 2020. Being one of the most heavily used shipping lanes for global trade, the Suez Canal was responsible for 12%

May 20, 2021

3 min of read

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Customs & Incoterms

Customs & Incoterms

DDP vs. DAP vs. DAT: Understanding the Difference

Incoterms basically indicate the point from where you are held responsible for taking certain risks and the costs involved. Additionally, it can also affect the incoterms you have negotiated with your supplier as well as the expertise that are needed by you to understand the definite processes involved in importing your goods. DAP - What does it stand for when it comes to shipping logistics? As far as shipping logistics are concerned, DAP is an international trade term and an acronym for Delive

Nov 23, 2021

3 min of read

Customs & Incoterms

2010 vs. 2020: What Has Changed in Incoterms

The proliferation of the Internet, e-commerce, and opening up of international trade norms across the world have made it easier for buyers and sellers, importers and exporters across the world to conduct trade and business deals. The varying import and export norms and practices in different countries, however, present the risk of misunderstandings and disputes. To resolve these and to facilitate global trade the International Chamber of Commerce (ICC) has established the Intercoms (Internationa

Sep 9, 2021

2 min of read

Customs & Incoterms

Seller Obligations under DDP Incoterms

Every day, millions of tons of cargo are shipped to destinations within a country or overseas. Hence, rules and regulations regarding incoterms have been enacted to manage this national and international trade. There are 11 incoterms, and these list out the responsibilities of both buyers and sellers. Delivery Duty Paid (DPP) is one of these 11 incoterms and defines the responsibility of sellers. Courtesy of seller.alibaba.comObligations of the sellers DPP is a delivery agreement between the bu

Aug 5, 2021

2 min of read

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Export & Import

Export & Import

Why Do B2B Businesses Need Escrow Services

The global B2B e-commerce market was valued at US$14.9 trillion [https://www.statista.com/study/44442/statista-report-b2b-e-commerce/] in 2020; this valuation is five times that of the B2C market and does not even take into account other aspects of the B2B trade. A huge chunk of B2B business is cross-border trade [https://Omoney.com/guides/international-b2b-payments-a-simple-guide/] and as a whole, this sector deals in higher transaction values of goods and services. The high amount of funds i

Dec 15, 2021

3 min of read

Export & Import

Problems Escrow Is Intended to Solve

Escrow is a legal arrangement in which a third party temporarily holds large sums of money or property until a particular condition has been met (such as the fulfillment of a purchase agreement). Agents hold the funds or assets in digital 3rd party escrow accounts until the predetermined contractual obligations are met by the two parties. As such, digital escrow is emerging as a major alternative to other forms of major B2B and B2C payments such as letters of credit, while also solving age-old

Nov 23, 2021

3 min of read

Export & Import

Most Asked Questions on Letter of Credit

In international trade and business dealings, a Letter of Credit is a trusted way of mitigating the risk for vendors. Its universal acceptance amongst business-conducting parties comes from the ease with which it established a clear intent and ability to pay. Its importance can be gauged from the fact that the global letter of credit confirmation market is projected to reach a value of $4.99 billion [about:blank] by 2027. Yet, the term can be confusing for many people, especially those who are

Nov 23, 2021

4 min of read

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Guides

Using Local Payment Methods in Cross Border Payment Gateways: Faster, Cheaper, and Higher Conversions

With the advent of digital technology, more opportunities have emerged for businesses to expand their scope around the globe. However, digitisation in each region and country developed differently, and this also affects the way consumers behave around the world of online payments.

Dec 16, 2022

4 min of read

Guides

International B2B Payments – A Simple Guide

B2B (business to business) payments are the transactions between two companies, rather than between a company and a direct customer.

Oct 29, 2021

24 min of read

Guides

Export & Import – A Simple Guide

When goods move from one country to another, the following considerations are to be kept in mind: Physical movement of goods, insurance of goods, legal requirements within the countries

Sep 6, 2021

20 min of read

Guides

Customs and Incoterms – A Simple Guide

Incoterms, simply meaning INternational COmmercial TERMS, is a phrase first coined by the International Chamber of Commerce in 1936. A growing increase in the number of shippers and carriers globally, each using their own shipping phrases, had resulted in a great deal of confusion.

Jul 19, 2021

12 min of read

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