Etsy is set to extend its Etsy Payments platform to several new countries. This strategic move is in response to many requests from sellers who have expressed a need to streamline their shop’s financial processes through the Etsy Payments program.
Sellers in Thailand and Ukraine will be the first to benefit from this expansion, gaining immediate access to the payments platform. Etsy has also announced plans to introduce this service shortly in Japan, India, Chile, Argentina, and Peru, with a special note that India will be available for export only.
Integrating Etsy Payments into these markets signifies a notable advancement for both sellers and buyers on the platform.
For buyers, this expansion promises a simplified checkout process, offering them a choice of payment methods. These methods vary depending on the buyer’s market but include options such as PayPal, credit or debit cards, Etsy Gift Cards, Etsy Credits, among others.
Statistics from the previous year highlight the demand for diverse payment options, with 75% of Etsy transactions utilizing a payment method besides PayPal.
The broad spectrum of choices that Etsy Payments offers has quickly made it a favored option, potentially increasing the appeal of sellers to consumers worldwide.
Etsy Payments Will Become Mandatory in New Countries
Furthermore, Etsy says that by 2024, Etsy Payments will become mandatory for sellers in the newly included markets, underscoring the importance of the platform’s unified payment system in creating a seamless shopping experience.
Newly eligible sellers are encouraged to learn and enroll in Etsy Payments as soon as the program is available in their country. Doing so will allow them to comply with the upcoming requirements and prepare their businesses to accommodate the evolving preferences of buyers globally.
Etsy Payments is currently available to sellers in Australia, Austria, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Indonesia, Ireland, Israel, Italy, Latvia, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Morocco, Netherlands, New Zealand, Norway, Philippines, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Türkiye, United Kingdom, United States and Vietnam.
The new countries, including Thailand and Ukraine, are being added through a new partnership with Payoneer, an established global third-party payment processor.
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