The case for local-first payments
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Gabriel de Montessus is executive vice president and group president of the global enterprise division at Worldpay.
Successful businesses are always looking for new ways to scale and that often leads to expanding beyond their borders and into emerging markets. And while global expansion is a fruitful strategy, many businesses find themselves confronted by a fragmented and rapidly changing global landscape. Navigating diverse local regulations, commercial nuances and shifting payment preferences are some of the common roadblocks.
This complexity is amplified by the wave of innovations across the payments industry, like digital wallets and buy now pay later (BNPL), both of which are rapidly gaining popularity across the globe. In fact, Worldpay’s 2025 Global Payments Report found digital wallets accounted for more than a third of global consumer business spending in 2024 to the tune of $15.7 trillion. By 2030, combined consumer digital wallet spending is projected to exceed $28 trillion, more than the entire U.S. GDP recorded in 2023.
Embedded frustration
In the face of this evolving landscape, many businesses continue relying on ‘one-size-fits-all’ embedded payments models, assuming a single, uniform solution can work across geographies. But this approach can’t address each market’s unique conditions and local preferences. The resulting friction creates delayed or declined payments, higher risk of fraud, elevated costs and spoiled market opportunities – leading to ‘embedded frustration’ for both merchants and their consumers.
Why a rethink in payments strategy to unlock global growth
The global environment ushers in a new imperative for merchants and their payments partners: adopt a payments geoexpansion strategy by embedding localized infrastructure that adapts to each market’s complexities and evolving consumer preferences. This is critical for tapping into emerging markets, where consumers are driving a substantial share of global digital payment adoption.
The Asia-Pacific region, for example, is the only global region where digital wallets accounted for the majority of both in-store and e-commerce transactions in 2024, according to Worldpay’s 2025 Global Payments Report. Emerging markets, including Thailand, represent a prized opportunity for businesses looking to capture a share of the country’s fast-growing e-commerce market, which is expected to grow 9% annually through 2030.
A successful ‘glocalization’ plan
When businesses can leverage localized expertise coupled with a robust global payments infrastructure, they’re equipped to capitalize on fast-growing markets across the globe.
Key considerations to unleash the potential of every business include:
Reimagining payments as a strategic enabler: Payments should not be viewed as a cost center, but as a key driver of growth and customer satisfaction.
Adapting to hyper-specific payment preferences: Each emerging market has its own nuances and payment preferences, requiring a laser focus to cater to each country’s personalized mix of payment needs.
Regulatory compliance: The landscape is constantly evolving across markets, making in-market expertise essential to help businesses navigate complexities, stay compliant and build trust.
Improving efficiency through a single point of integration: Localized settlements can help businesses manage currency risk and improve cash flow. Additionally, domestic processing is generally cheaper and provides greater control over the payments process.
Partnering with in-market experts: Merchants should demand local access and expertise from their payments providers for everyday support. Payments leaders must ensure local teams with in-market expertise are readily available to provide value-added solutions including multi-layered fraud protection, dispute management services and consultative expertise.
The path to seamless global commerce
As the global economy continues evolving at breakneck speed, a geoexpansion payments strategy is no longer a nice-to-have, but table stakes to capitalize in emerging markets. To successfully capture international market share, businesses must build their foundations on deep, localized embedded payment capabilities. By streamlining domestic processing, enhancing authorization rates, and improving the overall customer experience, businesses and their payments providers can unlock tangible growth opportunities and position themselves for success.
