Shoper&Ebury cooperation will help Polish e-shops to expansions abroad

Up to a few percent of margins can be lost by companies operating in the cross-border e-commerce model if they do not take foreign transactions seriously. Shoper and Ebury have reached an agreement that will give e-tailers tools to solve this problem. They make it possible to manage exchange rate risk when selling in multiple markets and currencies.

Ebury, a global provider of payment solutions for businesses, has signed a cooperation agreement with Shoper, a company that supports setting up and running online stores and offers tools to support sales on marketplace platforms. Both parties to the agreement are among the leaders in their respective industries - Shoper is Poland's most popular platform for subscription-based online sales, while Ebury's fintech for handling cross-border e-commerce settlements.

What both companies have in common is that they offer tools to support Polish e-commerce companies in expanding into foreign markets (cross-border e-commerce). Thanks to the partnership between Ebury and Shopera, Polish e-tailers will gain tools to go to foreign markets, as well as to manage exchange rate risk when selling in multiple currencies.

Ebury's partnership with Shoper comes at a time when the number of Polish companies selling online, either considering or starting operations abroad, is growing rapidly. Shoper's research shows that 14% of its customers plan to expand internationally. The potential for overseas e-sales development is also confirmed by Eurostat data: 5.9% of Polish companies will sell online abroad to European markets in 2021 - while the EU average is 8.1%.

- Interest in cross-border is growing rapidly, so we have developed our cooperation model. It allows current and future customers of the Shoper platform to access our unique international transaction banking and risk management solutions. I would point out among them, first and foremost, foreign currency accounts with a virtual IBAN number available in more than 30 markets, the ability to collect receivables in more than 40 currencies, support in currency risk management and purchase financing. Thanks to such solutions, e-exporters can protect their margins, reduce financial transaction costs and significantly speed up the settlement process, says Jakub Makurat, Ebury's country manager for Poland, the Czech Republic, Slovakia and the Baltic States.

- We talk to our vendors and listen to their needs. From these interactions, we find that many of them are considering expansion into foreign markets, seeking the help of experienced experts. Our goal is to provide comprehensive support to online stores that are planning similar moves. The partnership with Ebury is an important part of this offering, significantly enhancing the competence of Polish e-shops in the area of settlement and exchange rate risk protection," emphasizes Łukasz Piechowiak, Head of Financial Services at Shoper.

Jakub Makurat and Lukasz Piechowiak emphasize that online store owners who plan to sell through the cross-border e-commerce model often overlook the transaction aspect. They forget, for example, how important are the costs resulting from currency conversion of transactions. Companies can lose as much as 4-5 percent of revenue this way, significantly reducing margins and even causing them to lose money. However, cross-border e-commerce sellers are able to prevent margin erosion by using available solutions and hedging against foreign exchange risk.

- We expect that our cooperation with Ebury will make it easier for our vendors to expand the scale of their business and enter more foreign markets, including those outside the EU. Importantly, any type of business - large, medium and small companies - can benefit from these solutions ," comments Lukasz Piechowiak.

- Shoper is constantly expanding its own ecosystem of various services and tools for online stores. Together we have ensured that flexible and secure transactional solutions will become part of it," adds Jakub Makurat.

Ebury

Ebury is a global payment institution with the status of an electronic money institution. The fintech team of more than 1,700 professionals works in more than 30 branches, offices and subsidiaries located in more than 20 countries on six continents.

Ebury enables transactions for businesses in more than 140 currencies (including the Chinese yuan, Czech and Swedish krona, Turkish lira, Indian rupee, Brazilian real, Thai bat, Nigerian naira and Mexican peso). It also maintains accounts for companies in local currencies in more than 20 countries, including Hong Kong, Canada, Australia, Hungary and the United Kingdom.

The volume of transactions carried out by Ebury is $27 billion a year. As of 2020, the company's main investor is Banco Santander, one of Europe's strongest financial groups.

Fintech specializes in financial services for SMEs and large enterprises. It helps exporters and importers develop business in foreign markets by eliminating barriers in the areas of settlement, trade finance, foreign exchange transactions and foreign exchange risk management.

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Shoper

Shoper is a leader in e-commerce solutions in Poland. The company provides the necessary infrastructure for e-commerce. In addition to software for running an online store, it also offers a range of services to support sales. These include online payments, Digital Ads, logistics services and business financing. Brands such as Gym Glamour, WK Dzik, Irving and Doppelherz, among others, operate on the Shoper platform. Shoper has been listed on the Warsaw Stock Exchange since July 2021, and has been part of the sWIG80 index since December 2021.

Recently, Shoper has established partnerships with such technology and sales giants as Microsoft, Amazon, eMAG and Klarna. The company continues to emphasize the important role of digital advertising and international operations in the development of e-businesses. The company has also opened a new office in Bydgoszcz to develop its support in the area of online marketing. Shoper has also introduced many new services, including applications using artificial intelligence, such as AI Descriptions within the Apilo tool.

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