Ceevo Bridges the International Payments Gap for Europe

New Ceevo product allows European merchants easy access to simplified payments solutions along with the company’s global expertise to sell beyond their borders

VALLETTA, MALTA - Media OutReach - July 02, 2020 - Ceevo today announces the launch of its automated-onboarding (AOB) payment gateway solution across Europe, offering local merchants a fast and simple plug-and-play payments solution. Find out how we can help them capitalise on growing cross-border ecommerce opportunities at www.ceevo.com.

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 vast range of payment options so merchants can focus on growing their businesses. 

The Payment Challenges of Cross-border Ecommerce in Eastern Europe

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 hugely 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 (European Union) 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 the latest technology tools to address these concerns and provides merchants with a seamless solution to participate in the digital economy.

Philip Meyer, Group CEO of Ceevo said, "Inevitably, many small online retailers are missing out on the opportunity to sell their goods and services internationally and are therefore unable to scale their businesses if they are not able to accept payments from any prospective customers. The reality for small businesses is that they're worrying about payment technology when they should be focused on running their businesses - something we felt was very important to address by providing a user-friendly solution which caters for local languages and rapid integration." 

Ceevo - Empowering Businesses to Accept Almost Any Type of Payment from Anywhere

Ceevo has tailored its payments solutions to directly address the challenges faced by these businesses. It offers fast and automated onboarding without additional compliance overheads, self-service support that includes public documentation and a customer support section to help merchants troubleshoot payment issues. Ceevo also provides intuitive dashboards that enable easier multi-channel management to have your business operating soonest.

Philip Meyer further commented, "With Ceevo payments we want to empower merchants to sell to all their potential customers across the EU markets and beyond. We want to be a champion for small businesses and enable them, through our services, to focus on the things that matter instead of the confusing world of payments. Our solutions will make it easier for customers to accept payments from anybody, in any currency, from anywhere in the world without needing legal or technical expertise. We look forward to partnering with more types of merchants than ever before and supporting the next wave of businesses fueling growth in Europe and the rest of the world."

Ceevo is a new product launched by the Ceevo Group - formerly known as Net1's International Payments Group, comprising of Transact24 and MasterPayment. The Ceevo Group is a leading international payment services provider offering payment processing, credit and debit card acquiring, transaction security and regulatory compliance services. It is a subsidiary of NASDAQ-listed international financial technology solutions provider, Net1 UEPS Technologies Inc (NasdaqGS: UEPS, JSE: NT1). 

About Ceevo

The Ceevo Group specialises in international payment service solutions that empower businesses to accept almost any type of payment from anywhere in the world.

The Ceevo Group comprises of the following entities (which all form part of the "Ceevo" brand): Ceevo Financial Services (Malta) Limited; Ceevo Blockchain Ventures Limited; Transact24 Limited; Transact24 (UK) Limited; Transact24 LLC; and Masterpayment GmbH and its subsidiary companies (Summit Payment Services AG and Masterpayment Limited). Ceevo Financial Services (Malta) Limited (Registration Number: C36102 ) is authorised and regulated by the Malta Financial Services Authority (MFSA) and Transact24 (UK) Limited is authorised and regulated by the Financial Conduct Authority (FCA) of the United Kingdom (Register Reference Number: 900538). Ceevo is backed by the experience and technology of its parent company Net1 UEPS Technologies Inc. (NasdaqGS: UEPS, JSE: NT1). For more information, visit www.ceevo.com