Nochex say that this is in response to reports that Europe has beaten North America to become the second biggest e-commerce market in the world with Annual e-commerce revenue in Europeup by 16.3% to €363.1 billion in 2013. The majority of European e-commerce still occurs in the UK which has the third biggest market in the world, valued at €107.2 billion.
Alistair Mason at Nochex told us: “Nochex is committed to providing SMEs with the best payment solution to help their business grow and this has been very successful in the UK. European merchants often complain to us that mainland Europe does not offer the same variety of payment solutions that the UK market does. We identified a gap in the European market for our product. However, it was not as simple as creating a ‘one-size fits all’ Nochex European account. Different countries have different regulations and retail cultures so our solutions are tailor made for each merchant.
Nochex added that despite the huge potential for growth, many leading payment processors retailers use in the UK do not operate on the continent saying “European merchants have previously not been able to use Nochex, leaving them with limited options for trading online”.
Nochex look to be on a strong development path in 2015, having already announced Multi-Seller Accounts. If you’re interested in finding out more about their European accounts you can contact them at [email protected].