Selling SaaS Globally paddle.com 2 Local banks Setting up accounts with local banks in territories can help you overcome some of the common causes of payment failures, like miscommunication and longer payment chains. What are the bene昀椀ts? Payment failure is more likely when acquiring banks (those receiving money) and issuing banks (those sending money) are in di昀昀erent countries. Using acquiring and issuing banks in the same country – i.e. banking where your customers are – can help. Using local acquiring banks can increase payment acceptance rates by 2 20% for new customers, and by 3% for subscriptions and renewals. Things to consider It’s not a quick 昀椀x. Setting up a local bank account in every new geography is resource-intensive and can take months. Even with a local banking entity, you won’t be seen as a trusted seller by issuing banks until you’ve built up signi昀椀cant payment volumes. 11