Pitney Bowes Announces New and Enhanced Cross-Border Services as Parcel Volume Growth Exceeds 100% in One Year

Rhea-AI Summary

Pitney Bowes (NYSE: PBI) has launched a new and enhanced suite of Cross-Border Services aimed at helping ecommerce merchants expand globally. The upgrade includes enhanced technology and logistics capabilities, supporting clients in reaching over 200 destinations. The suite features four core services: Cross-Border Retail, Cross-Border Storefront, Cross-Border Delivery, and Cross-Border Quoting, designed for various merchant needs. Notably, parcel volumes from cross-border clients grew 100% year-over-year in Q1 2021, underscoring the growth potential in cross-border ecommerce.

Positive

• Launched enhanced cross-border services to support global ecommerce growth.
• Parcel volumes from cross-border clients increased 100% year-over-year in Q1 2021.
• Investments in technology and logistics improve service offerings.

Negative

• None.

Pitney Bowes Inc. (NYSE: PBI), a global technology company that provides commerce solutions in the areas of ecommerce, shipping, mailing and financial services, today announced a new and enhanced suite of Cross-Border Services designed to help ecommerce merchants, from small independent sellers to large online marketplaces, grow their businesses and efficiently reach more global consumers.

“Pitney Bowes has made significant strategic investments to modernize our cross-border services, including enhancing our technology and adding new logistics capabilities to help power cross-border ecommerce for the world’s largest marketplaces, millions of merchants, retailers, and brands, including Gilt Group, L.L.Bean, PacSun, Rue La La and WWE,” said Gregg Zegras, EVP and President, Global Ecommerce, Pitney Bowes. “These investments, along with all we’ve learned from more than 20 years of industry experience, have manifested in the new and improved suite of cross-border services we are bringing to market to help our clients grow.”

Pitney Bowes has strengthened its industry leading end-to-end cross-border service for ecommerce merchants and will now also offer merchants the increased flexibility of more modular solutions to meet specific needs. With the enhanced Pitney Bowes family of cross-border services, a retailer can now have a solution that fits their business no matter where they are on their international journey. The suite is comprised of four core services:

Cross-Border Retail:

Pitney Bowes flagship end-to-end cross-border export experience for online retailers, including promotion through the consumer-facing Borderfree program, to localization and checkout, through compliance, delivery and returns to more than 200 countries and territories. Now enhanced with upgraded technology and a revamped client experience.

Cross-Border Storefront:

The technology front-end of Cross-Border Retail as a stand-alone service for merchants who want to create a superior global online shopping experience, including the consumer-facing Borderfree program, while handling logistics separately.

Cross-Border Delivery:

A delivery service powered by our global logistics network with product classification and duty/ tax quoting included to seamlessly reach customers in more than 200 global destinations.

Cross-Border Quoting:

Optimized product classification and duty and tax quoting technology based on data collected over more than 20 years of serving global marketplaces and retailers as a stand-alone service, powered by machine learning.

“These new and improved cross-border services complement our domestic ecommerce offerings, including fulfillment, delivery and returns,” said Zegras. “We’re making them available to new and existing clients who want to keep building on the extraordinary momentum in the ecommerce space. Ecommerce is setting records by nearly every measure, and cross-border ecommerce is growing even faster than the market at large.”

The company’s heritage in cross-border ecommerce stretches back to 1999 when Borderfree was founded and eventually launched the world’s premier cross-border ecommerce platform. Pitney Bowes acquired Borderfree in 2015 and added Cross-Border Delivery as a standalone service in 2018.

“Parcel volumes from our cross-border clients grew 100% year-over-year in Q1 2021, as we continued to invest in technology, capacity and our cross-border success,” Zegras said. “Cross-border is the cornerstone from which the Pitney Bowes Global Ecommerce business was built, and we continue to invest in the growth of our clients in the cross-border space and across the full spectrum of ecommerce services.”

About Pitney Bowes

Pitney Bowes (NYSE:PBI) is a global technology company providing commerce solutions that power billions of transactions. Clients around the world, including 90 percent of the Fortune 500, rely on the accuracy and precision delivered by Pitney Bowes solutions, analytics, and APIs in the areas of ecommerce fulfillment, shipping and returns; cross-border ecommerce; office mailing and shipping; presort services; and financing. For 100 years Pitney Bowes has been innovating and delivering technologies that remove the complexity of getting commerce transactions precisely right. For additional information visit Pitney Bowes at www.pitneybowes.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210719005473/en/

FAQ

What is the latest update from Pitney Bowes regarding Cross-Border Services?

Pitney Bowes announced a new suite of enhanced Cross-Border Services to support ecommerce merchants in reaching global consumers.

How have parcel volumes changed for Pitney Bowes in Q1 2021?

Parcel volumes from Pitney Bowes' cross-border clients grew 100% year-over-year in Q1 2021.

What core services are included in Pitney Bowes' Cross-Border Services?

The core services include Cross-Border Retail, Cross-Border Storefront, Cross-Border Delivery, and Cross-Border Quoting.

How does Pitney Bowes support ecommerce businesses with their logistics?

Pitney Bowes provides enhanced technology and logistics capabilities for ecommerce businesses to facilitate cross-border transactions.

What opportunities do the Cross-Border Services open for ecommerce merchants?

The services offer increased flexibility and solutions tailored to merchants' specific international business needs.