UPS has acquired logistics firm i-parcel to link its US and UK operations as it seeks to expand its cross-border e-commerce operations, a sector which a recent Pay-Pal study valued at £65bn.
i-parcel connects over 100 million global shoppers with an integrated platform that provides a localised look and feel on respective merchant’s website. The i-parcel platform supports merchant’s websites with a local language welcome mat, fraud protection, and total prices (including customs duties and taxes) in local currency. In addition, the service also provides low-cost international transport.
Will Gensburg, i-parcel’s CEO, who will remain with the company said: “i-parcel has been an international bridge linking US and UK merchants to global e-commerce consumers throughout the world and our team is excited to join with UPS to further globalize e-commerce.”
According to the same Pay-Pal study, cross-border e-commerce will exceed £187bn by 2018, with more than 130m cross-border online shoppers.
The terms of the deal were not revealed.