UK fintech company Kord has raised £6.4 million in Series A funding to expand its platform for customer onboarding, regulatory compliance and payment processing.

The round was led by Guinness Ventures, with participation from Beringea, SFC Capital and angel investors. The investment brings Kord’s total funding to approximately £9 million since the company's founding in 2020.

Kord plans to use the new capital to expand its team, accelerate product development and attract more customers across the property, legal and financial-services sectors.

The company is addressing a persistent problem in regulated industries: businesses often rely on several disconnected systems to verify customers, conduct anti-money-laundering checks, manage documents and process payments. Kord aims to bring those processes together within one platform.

What Kord does

Kord is a London-based fintech infrastructure company founded by CEO James Owusu. It operates as the business-to-business brand of Checkboard Limited.

Its platform is designed for regulated organizations such as estate agents, law firms, conveyancers, lenders and brokers.

Kord combines several services that companies would traditionally obtain from different providers, including:

• Digital onboarding
• Identity verification
• Know-your-customer checks
• Anti-money-laundering screening
• Sanctions monitoring
• Source-of-funds verification
• Electronic signatures
• Client-money accounts
• Payment collection
• Compliance reporting

The company’s main objective is to integrate customer identity, compliance information, and payment activity into a single workflow.

This can reduce duplicated administration and provide businesses with a clearer record of who the customer is, where the funds came from and how the transaction was processed.

Why Kord raised £6.4 million

Kord intends to use the Series A funding to strengthen its technology and expand across regulated industries. Many companies still use one provider for identity verification, another for compliance checks, a separate platform for documents and an external payment service.

This fragmented approach can create delays, increase costs and make oversight more difficult. Customers may also be required to submit the same information several times as they move between estate agents, mortgage providers, conveyancers and law firms.

Kord wants to replace this fragmented process with a more coordinated digital transaction system. Rather than offering only an identity-verification tool, the company is developing infrastructure that connects onboarding, compliance decisions and the movement of money.

Connecting compliance and payments

One of Kord’s central ideas is that customer identity and payment activity should not be handled separately. A business may verify a customer successfully during onboarding but use a different platform to receive or distribute funds.

When those systems are disconnected, it can be difficult to maintain a complete view of the transaction. Kord allows businesses to collect customer information, verify identity documents, complete compliance checks, review the source of funds, and manage payments within the same environment. 

The company also provides digital wallets and client-money accounts for regulated organizations. This integrated model is intended to create a stronger audit trail and reduce manual work. It may also help businesses identify inconsistencies between the person completing the onboarding process and the individual or organization sending the money.

Responding to identity fraud

Fraud prevention is an important part of Kord’s proposition.

Generative AI has made it easier to produce manipulated documents, false images and convincing digital identities. Regulated companies therefore need to compare customer information against multiple data sources.

Kord says its API-based platform helps businesses verify identity information and detect suspicious discrepancies.

The company describes its payment infrastructure as a closed-loop environment in which identity, compliance data and payment activity remain connected.

This approach is designed to reduce risks such as impersonation, payment diversion and account substitution during high-value transactions.

For regulated businesses, the ability to connect a verified identity directly to the movement of money could become increasingly valuable as digital fraud becomes more sophisticated.

Property transactions are a key market

The property sector is one of Kord’s main target markets. Buying or selling a property involves several parties, including buyers, sellers, estate agents, lenders, solicitors and conveyancers.

Different organizations may need to complete their own identity, compliance and source-of-funds checks. This can lead to duplication and longer transaction times. Kord wants businesses to complete identity verification, anti-money-laundering screening, document collection and payments through a more coordinated system.

Reducing administrative friction could help transactions move more quickly and lower the risk of delays caused by missing or repeated documentation. However, Kord cannot remove every cause of failed property transactions. Financing problems, broken chains, survey findings and changing customer circumstances also play important roles.

Its value lies in simplifying the compliance and payment stages.

Supporting law firms and conveyancers

Law firms and conveyancers are another important market segment because they frequently handle large sums of client money. These businesses must verify customer identities, screen for sanctions, establish the source of funds and maintain records of the checks they complete.

Kord combines these compliance functions with payment processing and client-money accounts. The platform is designed to create a clear record of how funds were received, held and transferred.

This is important because compliance involves more than completing a check. A regulated company may need to demonstrate which documents were reviewed, when the review took place, which risks were identified and why a transaction was approved. Kord aims to centralize that information within an audit-ready record.

Investor interest in fintech infrastructure

Kord’s funding reflects wider investor interest in fintech companies that provide infrastructure to regulated industries.

Investment is increasingly moving beyond consumer banking applications toward business-to-business services such as:

• Identity verification
• Regulatory technology
• Fraud prevention
• Payment infrastructure
• Client-money management
• Transaction monitoring

These services are becoming more important as traditionally paper-based sectors adopt digital processes.

Property and legal services still rely heavily on emails, PDF documents, manual checks, bank transfers and disconnected software. Kord is betting that companies will increasingly prefer integrated platforms instead of purchasing multiple separate tools.

A modular platform

Kord describes its technology as modular, allowing customers to adopt individual services or combine several functions. A business could use Kord only for identity verification or source-of-funds checks while retaining its existing payment platform.

Another customer could use the full system for onboarding, compliance, client accounts and payments. This flexibility may help Kord serve industries with different requirements.

An estate agent may prioritize identity checks and source-of-funds verification, while a law firm may require detailed compliance records and client-money services. Kord also offers API-based integration, allowing its technology to connect with existing customer management, accounting, and case management systems.

What comes next for Kord?

Following the Series A round, Kord will focus on product development, recruitment and customer acquisition. Its main challenge will be proving that the platform can scale across different regulated industries while remaining simple to use.

Integration will also be critical. Law firms, financial-services companies and property businesses already depend on specialist software. Kord’s ability to connect with those systems could determine how quickly customers adopt its platform.

The company is expanding at a time when regulated businesses face two competing pressures. Customers expect faster and more convenient digital experiences, while regulators require stronger identity checks, fraud controls and record-keeping.

Kord is attempting to meet both demands by building compliance directly into the transaction process.

Building trust into digital transactions

Kord’s £6.4 million Series A is ultimately an investment in digital trust infrastructure.

The company is not trying to remove compliance from regulated transactions. It wants to make compliance more connected, efficient and easier to manage.

By bringing together identity verification, anti-money-laundering checks, source-of-funds analysis, client accounts and payments, Kord is addressing a structural weakness in many regulated industries.

Customer information and customer money are still frequently managed through separate systems.

The new funding gives Kord additional resources to expand its platform and strengthen its position across property, legal and financial services.

As digital fraud becomes more advanced and regulated industries continue to modernize, platforms that connect identity, compliance and payments could become an increasingly important part of Europe’s fintech market.

The post Kord raises £6.4 million to unify onboarding, compliance and payments appeared first on Cross-Border Magazine.

By ExpandNow - TikTok Shop in UK is exploding – But how can international brands truly break
through? Selling on TikTok Shop UK isn’t just about uploading your catalog. For global success,
brands need to go beyond listings and embrace what makes this market unique. We'll cover
how to:

📊 Get the inside scoop on TikTok Shop UK’s top trends
📢 Set up and market effectively with cultural context in mind
🛡 Ensure seamless tax & compliance – no local entity needed
📦 Deliver reliably with logistics built for cross-border scale

Meet the Experts:

● Amanda Uduku, Digital Commerce Leader at TikTok Shop UK
● Ben Muir, CEO at Unsociable
● Dan Breuer, CCO at ExpandNow
● Sophie Thompson, Operations Manager at Fulfilled by TikTok

📅 Date: June 12, 2025
⏰ Time: 4pm UK / 11am New York
⏳ Duration: 45 min + Q&A
🌍 Entering a the UK market doesn’t have to be complex. Join us to learn how to launch fast
and scale smart—with TikTok Shop as your gateway to the UK.

👉REGISTER NOW: https://www.expandnow.com/webinar-tiktokshop-uk/

The post Get Ready to Crack the Code and Win on TikTok Shop UK with ExpandNow! appeared first on Cross-Border Magazine.

The Challenge of Import Duties in the UK Market

By UKP Worldwide - As European retailers expand into the UK market, they face various logistical and regulatory challenges, with managing returns being one of the most significant. While the UK presents lucrative opportunities for businesses aiming to tap into a thriving eCommerce landscape, associated costs such as import duties can erode profitability. However, a crucial yet often overlooked strategy for mitigating these costs is the ability to reclaim UK import duties on returned goods.

The Financial Impact of Duty Reclaim

When goods are imported into the UK, retailers pay import duties based on the declared value of the items. For sectors with high return rates—such as fashion, footwear, and accessories, where returns frequently exceed 30%—these costs can quickly escalate. Fortunately, UK customs regulations allow businesses to reclaim duties on goods returned within 90 days, provided they meet specific criteria.

Neglecting to reclaim these duties can result in substantial financial losses. For instance, consider a European retailer operating in the UK. Over a year, they imported 223,217 items valued at £16.47 million, incurring £1.68 million in import duties. With a return rate of 37%, 82,605 items worth £6.32 million were sent back. By efficiently reclaiming duties on these returned goods, the retailer recovered £663,735—a significant sum directly boosting their bottom line. However, they also missed £33,399 due to duties not being eligible for reclaim. This example highlights the necessity of a well-managed duty reclaim process.

Benefits Beyond Cost Recovery

Reclaiming duties is not just about recovering costs; it also provides a crucial boost to cash flow. This can be particularly valuable during peak sales periods, such as the holiday season, when return volumes are at their highest. Additionally, a streamlined returns process allows retailers to reintegrate products into inventory quickly, reducing the need for excessive stock replenishment and minimizing waste.

A well-managed duty reclaim strategy also enhances customer experience. Retailers that offer smooth and efficient returns processes foster customer trust and loyalty, encouraging repeat purchases. Moreover, by aligning returns management with sustainability initiatives, businesses can minimize waste and extend product lifecycles, supporting environmental goals.

Overcoming the Challenges of Duty Reclaim

Despite the clear advantages, navigating the duty reclaim process can be complex. Retailers must ensure:

• Accurate tracking and documentation of returns
• Compliance with the 90-day return timeframe
• Submission of all required paperwork to UK customs

Investing in robust inventory management systems and collaborating with experienced logistics partners can significantly streamline this process, preventing missed reclaim opportunities.

Turning Returns into a Strategic Advantage

In the fast-moving eCommerce landscape, returns are an unavoidable reality. However, rather than viewing them as a cost burden, European retailers shipping to UK customers can transform returns into a strategic advantage. By reclaiming import duties on returned goods, businesses can reduce costs, enhance profitability, and strengthen their competitive position in the UK market.

Success in duty reclaim hinges on understanding the process, adhering to critical timelines, and leveraging the right expertise. For retailers willing to optimize their returns strategy, the financial and operational rewards make the effort worthwhile.

The post Understanding the Value of UK Duty Reclaim for European Retailers appeared first on Cross-Border Magazine.

Visa wants to expand its reach in payment flows beyond the traditional domain of its card network. The largest card network in the United States is preparing to offer A2A services in the UK in early 2025. As Visa CEO Ryan McInerney stated during the web broadcast of the company's first fiscal quarter results, this service will also reach other parts of Europe and other countries.

Initially, Visa will focus its A2A offering on bill payments for merchants and consumers, a segment where it has identified growing demand. However, the company plans to progressively expand the service to include direct transfers between bank accounts, thus optimizing the payment experience for its customers.

Account-to-account (A2A) payments allow direct transfers from the payer's bank account to the merchant or supplier without intermediaries such as credit or debit cards. Also known as “payment by bank,” these methods are beautiful to merchants as they eliminate card interchange fees.

A2A Payments are growing 

According to Statista, A2A payments are expected to grow at a compound annual growth rate (CAGR) of 14% between 2023 and 2027, consolidating their position as a key payment alternative in the coming years. This boom has led companies such as Visa to diversify their services, seeking new opportunities as the card market in the US and other regions matures.

In this context, Visa has announced that it will implement its bank payments service in the US once it has consolidated its European presence. The European strategy relies on Tink, the open banking fintech acquired by Visa in 2022, facilitating money movement between banks, merchants, and fintechs.

However, Visa faces growing competition in the A2A sector, especially in markets such as the US and Latin America, where other digital payment players are expanding their solutions. In Europe, the growth of these services has been more moderate, as card processing costs are significantly lower. As a result, A2A payments have focused on specific segments, such as high-risk businesses, high-value transactions, and recurring fees.

The post Visa opens its A2A service in the UK appeared first on Cross-Border Magazine.

Amazon has updated its return policies for the United Kingdom, starting November 11th. International sellers will be required to provide a domestic return address or issue a return label; otherwise, the customer will receive a refund without needing to return the item.

According to Amazon, these new rules are necessary to establish clear guidelines for sellers and simplify the return process for customers. UK buyers must be confident that they can return an item to a domestic address and that the seller will cover return costs if such an address is unavailable. To this end, a prepaid return label with tracking must be provided to UK customers.

Four calendar days to answer 

Sellers will have four calendar days to offer UK shoppers one of the above return options. If the shopper does not receive a domestic return address or free return label within this timeframe, they will automatically receive a refund and may keep the product.

Amazon provides a list of international return providers, including Evri, Royal Mail, UPS, DHL, and La Poste Groupe, to assist sellers.

Amazon has recently introduced more changes to increase customer convenience, which require merchants to adjust. 

Also, Amazon recently announced an extended return period for the holiday season. From the end of this week, this measure will apply not only to its store in the United Kingdom but also to its stores in Germany, France, Italy, the Netherlands, Poland, Sweden, and Belgium: items purchased between November 1 and December 25 can be returned until January 31 or within 30 days of the purchase date (whichever is later).

All changes to Amazon UK return policies during 2024 + Tips

Amazon UK’s updated return policies for 2024 are designed to streamline customers' return process while increasing sellers' transparency. Here’s a guide to help sellers navigate these changes effectively:

1. Domestic Return Address Requirement

For items purchased in the UK, Amazon now mandates that sellers provide a UK return address or supply a prepaid return label for international returns. If sellers don’t provide either within a four-day window, Amazon will issue a refund to the customer, allowing them to keep the item without needing to return it. This aims to improve convenience and trust in cross-border transactions, especially for international sellers, who should explore services like Evri or Royal Mail for efficient logistics management​.

2. Return Processing Fees

Amazon now imposes a return processing fee on certain products with high return rates, with thresholds set per product category. This fee applies only when returns exceed the category-specific threshold, excluding apparel and shoes, over a three-month rolling period. Sellers can monitor their return rates in the FBA Returns dashboard and should review trends to understand better and manage the fee potential​.

3. Returnless Refunds Option

Sellers can now offer returnless refunds for specific products, often low-value items, where the return shipping cost may outweigh the item’s value. This is set up in Seller Central by establishing criteria like product category and return reason. This option can streamline the process for sellers, reduce logistics costs, and improve customer experience by efficiently addressing minor issues​.

4. Inventory Management for Returned Items

Amazon’s recent updates in Seller Central also allow sellers to automatically decide the fate of returned items, choosing between relisting, returning to the seller, or disposing of unsellable items. This update provides sellers with enhanced control, which is particularly valuable for items prone to damage​.

5. Extended Holiday Return Window

For the holiday season, Amazon offers an extended return period for purchases made between November 1 and December 25, allowing returns until January 31. Sellers should anticipate this increase in return traffic and plan inventory accordingly​

Tips for Sellers

Assess Return Data: Use Amazon’s “Return Insights” to identify products with high return rates and understand return reasons.

Optimize Listings: Clear product descriptions and images can help reduce unnecessary returns.

Plan for Fees: Strategize around products that may exceed the return threshold, potentially offering promotions or product improvements to minimize returns.

These updates demand quicker response times and efficient logistics management. For more information on implementing these settings, check your Seller Central dashboard under "Manage FBA Returns."

The post Amazon's new return policy for the UK + Tips to deal with return changes in 2024 appeared first on Cross-Border Magazine.

London, UK, 24 September 2024 - As the UK grapples with rising living costs, new online marketplaces like Temu are helping consumers save substantially on everyday purchases. 

According to a study by the Centre for Economics and Business Research (Cebr), UK households could save nearly €3,597 (£3,000) annually by purchasing goods from platforms that use direct distribution channels, such as Temu. This saving represents a significant relief for families struggling with inflation and increasing living costs.

The Cebr Study Behind the Savings

The Cebr analysis, commissioned by Temu, delves into how different distribution models affect consumer prices on various products, including personal care items, clothing, and household appliances. 

Temu eliminates the need for intermediaries in the supply chain by focusing on a direct-from-factory distribution model. This efficiency enables Temu to offer products at prices far lower than competitors who use traditional distribution methods.

Through its unique approach, Temu provides savings in several categories:

• Monthly Savings: On average, UK consumers could save €296 (£247) per month by purchasing directly from merchants in Temu. This represents a 46% reduction in category spend.

• Clothing: Shoppers save €95 (£79) per month on clothing, which accounts for 48% of their total apparel spending.

• Recreational Items: Consumers could save an average of €47 (£39) per month on recreational goods, gardening products, and pet supplies, a 48% savings.

How Temu's Model Works

Temu’s direct distribution model connects consumers directly with manufacturers. By bypassing middlemen, such as wholesalers and distributors, the platform ensures lower prices without compromising on quality. Nina Skero, CEO at Cebr, commented, "As online shopping continues to grow, selecting the right selling channels is crucial for both consumers and businesses. Our research shows that households could save close to €3,597 (£3,000) per year by utilizing platforms like Temu."

The Cebr report comes as UK households grapple with rising energy bills, food costs, and inflation. As such, Temu’s potential to alleviate financial strain is particularly relevant. A Temu spokesperson highlighted the platform's mission: "Access to affordable, quality goods should not be a privilege for a few. By partnering with world-class manufacturers and cutting unnecessary costs, we make high-quality merchandise more accessible to everyone."

The study also explored how merchants benefit from selling on platforms like Temu. By interacting directly with consumers, manufacturers gain a better understanding of product demand, helping them to avoid overstocking and reduce storage costs. Furthermore, the competitive edge provided by Temu's model is not solely due to UK import duties but is largely driven by the platform's efficient supply chain management.

Temu Expansion and Future Prospects

Temu launched in the UK in April 2023, following its successful debut in the United States in September 2022. The marketplace now operates in over 70 markets, including Europe, the Middle East, Asia, and Oceania, offering a wide range of goods from clothing to household appliances. As more consumers turn to direct distribution platforms, the potential for savings continues to grow.

Temu’s focus on affordability, combined with its direct-to-consumer model, positions it as a key player in the rapidly expanding e-commerce market. With the ability to offer significant cost reductions, Temu is well-placed to help UK households stretch their budgets further during these challenging economic times.

You can download the full report here:

The post Could Temu help UK families fight the rising living costs? + Cebr study results appeared first on Cross-Border Magazine.

Lichfield, United Kingdom, June 25, 2024 (GLOBE NEWSWIRE) --CIRRO Fulfillment officially announces the opening of its 21st fulfillment center, Ergo Fradley 354, which is now operational in the well-established Fradley Park, Lichfield. The new facility spans 33,000 square meters.

Ergo Fradley 354 is a joint venture between NFU Mutual and Ergo Real Estate, it is a top-tier facility built to the highest standards, achieving EPC A, BREEAM Excellent and Planet Mark Certification, to allow for sustainable, reliable, and efficient operations. The facility is equipped with 50-meter secure yards, controlled access, and advanced surveillance systems to store the products more safely. With a 15-meter height, 50 KN/m² floor loading capacity, and 36 dock levelers, the facility offers spacious storage, accommodates heavy products and ensures fast product circulation.

The strategic location enables CIRRO Fulfillment to serve a densely populated region of over one million people within a 30-minute drive of Lichfield, Burton, and Birmingham. Situated on the A38, it offers excellent accessibility, quickly reaching the northern areas of Lichfield and the Midlands via the M6. Moreover, the M1 provides convenient access to the rest of the UK, including London in the south and Leeds in the north.

CIRRO operates 15 centers in the UK

With this addition, CIRRO Fulfillment now operates 15 centers across the UK, totaling over 200,000 square meters of fulfillment space. On a broader scale, the inclusion of the new fulfillment center expands the company's footprint across 14 European countries, bringing the total storage capacity to over 500,000 square meters. This extensive network supports companies in scaling their e-commerce operations efficiently.

"We are excited to unveil the launch of our new fulfillment center in the UK," said Charles Lu, Head of Business Development at CIRRO Fulfillment Europe. "This expansion enhances our warehousing capacities, alleviates regional storage capacity pressures, and better serves the growing demands of the e-commerce market."

E-merchants seeking dependable and affordable fulfillment solutions, primarily for the UK and European markets, are encouraged to contact CIRRO Fulfillment to discuss their requirements.

The post CIRRO Fulfillment opens a new 33,000 sqm facility in the UK! appeared first on Cross-Border Magazine.

By Salesupply - A vast post-purchase study, carried out by e–commerce customer care and fulfillment specialist Salesupply together with post-purchase experience provider parcelLab, highlights significant gaps in delivery reliability, tracking transparency, customer service availability, and performance for the top 100 UK retailers. 

The UK’s Top 100 Retailers’ Post-Purchase Secrets Report 2024 identifies key areas within the post-purchase journey where retailers need to improve to enhance customer satisfaction and retention, emphasizing customer service and delivery processes.  

Delivery Performance: Falling Short of Promises

The study discovered that half of the retailers fail to provide essential delivery information on their product pages, impacting customer decisions and satisfaction.

“Our report underscores the critical need for UK retailers to enhance their services,” stated Tobi Buxhoidt, CEO at parcelLab. “Nearly 40% of retailers do not meet their advertised delivery times, highlighting a gap between customer expectations and service delivery. Reliable delivery is crucial for customer satisfaction and retention; many retailers are falling short. This is a stark reminder that timely and dependable delivery is foundational to customer satisfaction and retention.”

Although more than half (55%) of retailers link their tracking directly to the carrier, which improves transparency and trust with customers, nearly half are missing an opportunity to enhance customer experience through better tracking visibility.

The report also found that nearly 20% of retailers charge for delivery. Over 80% of retailers provide express delivery, averaging £6.93, with industries like health, cosmetics, and jewelry imposing the lowest surcharges. Express delivery options can attract customers who need their purchases quickly and are willing to pay for expedited shipping.

Customer Service: Long wait times and limited availability

One aspect that strongly influences pre- and post-sales satisfaction is customer service. Good customer service contributes to long-term customer loyalty. Customers are more likely to make repeat purchases from retailers where they feel well looked after. The results of this study show that there is quite some room for improvement in the UK. 

Opening hours not in line with consumer behavior

One in four major UK online retailers is available only during business hours, and only one in seven offers customer service throughout the day and evening on weekdays and weekends. This misalignment with consumer behavior is a missed opportunity, as peak online shopping times in the UK are between 8pm and 9pm. Retailers not available during these hours risk losing customers to competitors with longer service hours.

Customer service channels

UK’s top online stores offer their customers a variety of contact channels (2.8 channels on average) ranging from telephone (the most offered channel) to social media, email or contact form and chat. WhatsApp, one of the younger generation‘s favourite communication channels, is not yet widely used as a customer service channel.

Long waiting times: please hold the line

Still, the phone might not be the ideal channel for reaching the customer service team: more than a quarter of the top shops do not publish a customer service number. And six of the 100 retailers reviewed hid the customer service number as well as they could.

Half of the retailers surveyed took over five minutes to answer phone calls, with the average being 8:23 minutes. Retailers also take some time to respond to customer enquiries on the other channels. Email enquiries to customer service were answered after an average of 12 minutes. On social media, testers waited an average of 10 minutes for a response and WhatsApp questions were answered after an average of 15 minutes.

Customer service technology to the rescue

Two-thirds (66%) of online retailer now use chatbots to manage customer queries, reflecting an industry shift towards automation to enhance efficiency and manage customer interactions at scale. This adoption of automation highlights the need for retailers to balance efficiency with personalised customer service.

Jonathon Huggett – Senior Business Developer at Salesupply added: “These findings should serve as a call to action for UK retailers to critically assess and improve their customer service to deliver the exceptional service that today’s customers expect and deserve.”

To read the full report, click here!

The post Post-Purchase study: 40% of Top 100 UK retailers miss delivery deadlines  appeared first on Cross-Border Magazine.

eBay has slashed the fees for fashion items in the UK. Specifically, the company has drastically reduced the fees that users have to pay to sell on its website, with the fashion category being the most benefited. In some cases, fashion items had been completely removed from fees, meaning that sellers won’t have to pay for selling some fashion items on the eBay UK site. 

Specifically, it has been applied to all items except sneakers, handbags, watches, and jewelry, which are still subject to fees, although "reduced".

These changes affect not only new products for sale but also those already for sale on the marketplace. As eBay explains, "now UK-based private sellers can sell clothing for free and will not pay end-value fees or regulatory operating fees when selling these items."

Thus, from now on, selling any of these items on the marketplace will incur a fee of 8% of the price of the item plus the corresponding 30 pence. On the other hand, items priced at more than 100 pounds can be sold free of charge.

eBay bet on AI tools 

eBay is also betting on generative artificial intelligence (AI). Recently, the German marketplace launched a new AI tool that allows sellers to generate product listings from images. Dubbed 'magic listing,' the tool can automatically write a title and description based on an image, as well as information including product release date, category, subcategory, list price, and shipping cost.

This tool builds on the company's efforts to implement AI into the selling process. In fact, eBay has also improved its image background removal tool, which will allow sellers to share better product images.

In Q4 2023, eBay posted results that underscore its efforts to drive organic growth and stabilize its buyer base. The company's earnings report showed a 3% increase in revenue to $2.6 billion. In parallel, eBay's advertising business also posted strong growth, with total advertising revenue for the year up 25%.

The post eBay slashed the fees for fashion items in the UK appeared first on Cross-Border Magazine.

H&M will charge customers for online returns in the UK starting in September. The Swedish company will begin charging £1.99 (€2.29) for returns on online orders in the UK. In-store returns and delivery points will continue to be free of charge.

According to company sources told Modaes, "the pilot project aims to test the operational feasibility and market acceptance of new models for returning its products online, in line with the company's sustainability strategy and changes in the sector".

Thus, after implementing this measure in the United Kingdom, the same sources have expressed that "the initiative will be evaluated soon to analyze the possibility of introducing new charges for returns in other countries in the coming months". 

On its UK website, the group details that no charge will be applied for defective or incorrect items. Returns will also be accessible for members.

H&M charging for online returns started last year globally 

In September last year, H&M rolled out this measure in several markets on a trial basis, albeit exclusively to online returns. Earlier this year, Inditex also announced that Zara would start charging for online returns in Spain, joining other countries where the Galician group's flagship brand had already begun implementing this measure, including all European markets. Other companies, such as El Corte Inglés, Mango Outlet or Shein, were already charging for online returns.

Similarly, Asos currently charges €1.95 for orders that are returned more than 14 days from the date received. 

If the item is returned before that period, the return is free of charge. On its side, Zalando set a minimum order of 24.90 euros for free shipping. If it is less, the shipping amount is 2.90 euros. Regarding the return policy, the German marketplace allows free returns within 100 days of purchase.

The post H&M will charge customers for online returns in the UK appeared first on Cross-Border Magazine.