Danish payment management firm Pensio and Venda, a digital commerce solutions provider, have launched a new payment system VendaPay, designed to help retailers with their international expansion.
Launched with London luxury retailer LN-CC, the new solution will offer a range of interchangeable payment options, including omnichannel solutions and a pay later function.
VendaPay will offer global customers a localised payment option enabling them to make purchases in their preferred way and currency.
Through this solution, retailers will be able to access an automated real-time analytics platform, which integrates transaction and payment data from a range of sources such as merchant websites, payment gateways and banks.
Additionally, the new solution will simplify the process and offer support to retailers working with international banks in addition to establishing fraud prevention measures.
LN-CC eCommerce director David Hobson said: "Online payments are handled differently across the world and as a retailer with international growth plans, we need to understand these country differences and offer the relevant payment options to our customers. By not offering a certain type of solution, we are needlessly missing out on sales and revenue.
"VendaPay offers us a single customisable solution that takes care of the arduous reporting and reconciliation processes that span international markets. Ultimately, it allows us to focus on our business, while offering local solutions in the regions we want to target."