Hurricane Commerce, a cross-border e-commerce data specialist, and Plusius, a Swedish fintech, have formed a ‘world first’ strategic relationship.
Hurricane’s solutions for duty and tax calculation and compliance screening are paired with Plusius’ financial services for payment facilitation, escrow, currency conversion, and verification in this combined offering.
The two companies can now offer a duty and tax [Delivered Duty Unpaid] solution by combining their respective service offerings. They’ve also agreed on a road plan for a comprehensive and distinctive product offering to benefit cross-border eCommerce enterprises.
When the Hurricane and Plusius services are combined, an end-to-end Delivered Duty Paid [DDP] solution will be possible, from HS code categorization to duty and tax calculation and compliance screening to full VAT collection and reconciliation. This will be especially useful for eCommerce companies that use the EU’s Import One-Stop Shop [IOSS].
The service will also help to reduce the quantity of goods returned to merchants as a result of unpaid taxes by customers, lowering the carbon footprint of online retailers and their delivery partners.
“We are excited to have agreed this strategic relationship with Plusius, a highly creative organisation capable of providing digital payments and optimising monetary flows between countries and currencies,” stated Martyn Noble, CEO of Hurricane Commerce.
“We’re excited to collaborate with the Plusius team to bring a collaborative product solution to market that will help clients such as retailers, marketplaces, carriers, and other financial service providers to accomplish smooth cross-border eCommerce.”
“We are happy to have agreed this world-first strategic cooperation with Hurricane, bringing together cross-border fintech and data capabilities,” Plusius CEO Andreas Wickberg stated.
“We’re excited to start onboarding customers right away and continue to develop our combined DDP offering, bringing it to existing and new customers who will benefit from the transformative impact it can have on their cross-border capabilities and ability to achieve scale and compliance in global e-commerce,” says the company.
