This article was first published on Insights – Ripple
Former eBay Chief Product Officer R. J. Pittman and Fortune Senior Writer and The Ledger Editor Robert Hackett took the stage at Swell in a session entitled The Future of Commerce. As part of that conversation, Pittman dissected some of eBay’s early learnings in tackling cross-border payments and how those might inform strategies for blockchain and digital asset companies.
Pittman rightly set the table by pointing out that eBay is one of the largest cross-border trade companies in the world. In fact, he shared that the very first transaction on eBay took place across borders – the sale of a laser pointer from the U.S. to Canada. Today, eBay spans 190 countries.
According to Pittman, that ability to access buyers and sellers in 190 countries is “one of the most compelling value propositions of eBay.” And the opportunity remains for eBay to make trading globally a largely seamless process.
But, prompted by Hackett about the impediments of cross-border payments, Pittman acknowledged the challenge is daunting and the hurdles to international payments laborious. That is why he feels there is still an opening to advance the global selling experience 2-3 steps further down the road.
Small Changes Yield Big Results
The potential impact of these experience improvements was a central theme of Pittman’s remarks. Recounting experiences at eBay and even earlier roles at Google, he repeatedly hammered home the point that making minor process improvements to remove friction can result in enormous positive downstream impact for a business. Examples included the larger resizing of the buy button at eBay or faster search results at Google. In both cases, small tweaks led to large revenue and business gains.
With such inherent friction in international payments today, there are a number of places to remove barriers and deliver improvements. Pittman reminded ...
To keep reading, please go to the original article at:
Insights – Ripple