Since the inception of the internet, the rise of e-commerce was inevitable. By making your own website; launching digital marketing campaigns; collecting positive online reviews: small businesses can compound into multi-million pound companies. Going global with the internet, is key to success. Importantly, British businesses must use compatible payments gateways, so 1.3 billion Chinese customers can pay for products and services online.
To sum up, choosing the right payment gateway for you website depends on your customer journey, from awareness to purchase. Therefore, researching and taking your time to come up with a payment receiving strategy is crucial.
Firstly, Alipay was founded by Jack Ma and the Ant Group (formerly Ant Financial) in 2004. It is the most commonly used Chinese payment gateway. Chinese Alibaba e-shoppers trust Alipay because of their escrow service. With Alipay, Chinese customers can payments through their mobile browser and computer browser.
Secondly, WeChat Pay is a digital e-wallet. It is available for WeChat users (China’s most popular social media platform). Tencent Holdings is the company behind WeChat Pay. Furthermore, as part of the WeChat digital ecosystem: users can pay rent, buy movie tickets, shop online and even book doctors appointments through the Super-App. With WeChat Pay, customers can make purchases through PC browser (with their smartphone) and in the WeChat App.
Last but not least, China UnionPay (or UnionPay) is a veteran of the Chinese online payment systems. Founded in 2000, it is China’s largest provider of debit and credit bank card schemes. Importantly, UnionPay can now be used in 164, out of 195, countries. With UnionPay, customers can pay in their computer browser.
I am the CEO of a British company that specialises in luxury cashmere scarves, hats and gloves. My target demographic is women of all ages interested in luxury clothing. Recently, I’ve noticed a rise in Chinese followers and comments on social media. My online store does not have a Chinese payment gateway at the checkout. However, I want to start accepting Chinese online payments from these customers.
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