13/01/2023
Bruce Whitfield chats to Peach Payments’ Joshua Shimkin about key things ecommerce SMEs looking to expand cross-border need to consider with regards to successfully managing cross-border payments.
15/12/2022
For some companies, selling and servicing their products digitally is relatively simple. You upload your products into an online store and ensure the buying and delivery process is slick and seamless.
South Africans are embracing e-commerce in a big way, with PayFast reporting that Black Friday and Cyber Monday online transaction volumes surged by up to 30% this year.
If you’re anything like some of South Africa’s biggest retailers, you had a very good Black Friday. Through the course of the annual shopping extravaganza, South African consumers spent billions of Rands, with one spending R400 000 before sunrise and at least two others spending more than R1 million each. But even the most successful of Black Fridays doesn’t come without a few wrinkles.
Local data automation and integration startup, Synatic, has secured an additional $2.5 million (+- R42 million) in a seed extension funding round led by Allan Gray E-Squared Ventures and UW Ventures.
The World Economic Forum believes that as markets become increasingly digital, full SME recovery and success after the pandemic hinges on their ability to expand across borders. However, online SMEs who want to sell to international customers have to keep several factors in mind.
