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Business leaders on Brexit | Going east by freight rail | Payment platforms go local

UK business leaders unite on Brexit transition deal
UK business leaders have come together in a letter to the Brexit secretary, David Davis, to urge him to establish a Brexit transition deal before firms start to finalise spending plans and budgets for 2018.
Signatories included the CBI, British Chambers of Commerce, the manufacturing trade body EFF, the Institute of Directors and the Federation of Small Businesses. It is reported that that the business groups wanted to present a united front in the key priorities for Brexit.
A spokesperson from the Department for Exiting the European Union said: “the EU has now agreed to start internal preparatory discussions on the framework for transitional arrangements as well as our future partnership.”

Going East. Booming rail freight links.
In our global customer magazine, DHL Delivered, we explore the booming rail freight links between Asia and Europe and the opportunities they create for Western exporters.
Traditionally, efficient logistics links have been dominated by sea and air and choosing between them was a trade-off between time and cost. More recently however, European companies have enjoyed a third option. Rail freight links between China and Europe offer a middle ground for those interested in the Chinese and surrounding markets.
Improved infrastructure is already making rail links slicker and more efficient. More than 300 trains made the journey from China to Europe in 2014 and by 2016 the number had surpassed 1,700. This is expected to double every year until 2020.
Taking ecommerce global and keeping payments local
Payment difficulties contribute to around 15 per cent of online shoppers abandoning their online shopping baskets before finalising the purchase. Online shopping now generates £1.75tn in global sales so understanding what payment options locals prefer is crucial to ecommerce success.
Consumers from around the globe want to pay in different ways which can cause hitches for retailers wanting to expand abroad. Nigel Whiteoak, co-founder of LoveCrafts, shares how his online shop catered to international customers using a payment company called Ayden, whose payment processing platform harnesses machine learning to customise the payment method depending on which country the buyer is in.
On his experience of cross-border ecommerce he said: “before we started selling outside of the UK we had a turnover of around £6.5m […] last year we posted £10.9m with the bulk of our sales coming from overseas, this growth is directly linked to our ability to offer local payment methods.”

Thursday 26 October 2017

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