Cross-border e-commerce payment, what payment tools global consumers use

1. North America (referring to the United States and Canada in general)

North America is the world's most developed online shopping market, and consumers in North America are accustomed to and familiar with a variety of advanced electronic payment methods. Online, over the phone, through the mail and other payment methods are not new to American consumers. In the United States, credit cards are one of the most common payment methods used online.

The average U.S. third-party payment service company can process Visa and MasterCard credit cards in 158 currencies, American Express cards in 79 currencies, and Diners cards in 16 currencies. PayPal is also an exceptionally familiar electronic payment method to Americans. Chinese merchants doing business with the United States must be familiar with these electronic payment methods, must be accustomed to and good use of a variety of electronic payment tools. allen believes that the United States is the least risky credit card region, orders from the United States, because of the quality of the reasons for the dispute is not many cases.

2. Europe

Europeans are most accustomed to electronic payment methods in addition to Visa (Visa) and MasterCard (MasterCars) and other international cards, but also very much like to use some of the local cards, such as: Maestro (UK), Solo (UK), Laser (Ireland), Carte Bleue (France), Dankort (Denmark), 4B (Spain), CartaSi (Italy), and others. According to the author's experience, the countries and regions in Europe with more contacts with Chinese merchants include the UK, France, Germany and Spain. In comparison, the UK's online shopping market is more developed, and a number of features similar to the United States, such as the use of PayPal in the United Kingdom is also very common, of course, the use of the UK PayPal account to receive payment is more favorable. Generally speaking, consumers in European countries are more honest, and online retailing against Spain is relatively risky.

3. Japan

The local online payment method in Japan is mainly credit card payment and cell phone payment. The Japanese own credit card organization is JCB, and the JCB card, which supports 20 currencies, is commonly used for online payment. In addition, Japanese people usually have a Visa and MasterCard. Online retail trade between Japan and China is less developed than in other developed countries, but offline Japanese spending in China is still quite active, especially for Japanese tourists, with whom long-lasting connections can be made using shopping sites. Currently, Alipay and Japan's Softbank Electronic Payments have signed a strategic cooperation agreement to provide Alipay's cross-border online payment services for Japanese companies. It is estimated that with the entry of Alipay into the Japanese market, domestic users who are accustomed to Alipay will soon use Alipay to collect yen directly. In Japan, the number of people using cell phones to access the Internet has exceeded the number of people using personal computers, and they are also very used to using their cell phones for online shopping. Their cell phones can be used for airport boarding verification, Dacha access keys, transportation cards, credit cards. payment cards, etc. The technology and software solutions behind these applications are provided by FeliCa, a subsidiary of Sony. Payment phones have built-in FeliCa payment chips, which are implanted with user identity information and payment data. The chips are supplied by Sony in cooperation with Renesas and Toshiba. In addition, an alliance comprising Sony, cell phone operator NTT Docomo, and transportation operator JR East is advancing the development of the mobile payment ecosystem. Operators, stores, credit card issuers, and cell phone manufacturers reached a unified agreement, and FeliCa is responsible for implementation. Now, in several of Japan's largest cities, about 110 networks of people use Suica cell phones to purchase tickets or goods from automated kiosks. The main reason for the author to introduce this piece in detail is that I feel that cell phone payment is a big trend in the future, and we can learn from its experience.

4. China

In China, the most mainstream payment platforms are non-independent third-party payments led by Alipay and Caixit, which use the top-up mode of payment, and they are integrated with the online banking functions of most banks. So whether it is a credit card or a debit card, as long as your bank card has opened the online banking function, it can be used for online shopping in China. In China, the use of credit cards is not yet very popular, so most people still use debit cards to make payments. Credit cards are developing very fast in China and it is estimated that they will become popular in the near future. Among young white-collar workers, the use of credit cards has become a very common phenomenon. This development trend also indicates that direct payment by credit card on the website will also develop slowly. In China's Hong Kong, Taiwan and Macau, the most customary electronic payment methods are Visa and Mastercard, and they are also accustomed to using PayPal e-accounts to make payments. According to Taiwan media Digi Times, Taiwan's well-known e-commerce provider, NetEase trading platform eDynamics (NetEase Technology) on November 2008 officially announced with the mainland's largest e-payment platform, Alibaba Group subsidiary Alipay cooperation. This means that in the future, Alipay users on the mainland can shop on China's Taiwan-based shopping sites and resolve payment issues through Alipay.

5. South Korea

In South Korea, the online shopping market is very developed, and most of their mainstream shopping platforms are C2C platforms, such as Auction, Gmarket, 11ST and so on. In addition, there are numerous B2C online stores, such as the stores of some brand-name companies and the stores opened by some celebrities. Korea's online payment methods are relatively closed, generally only provide Korean domestic bank cards for online payment, Visa and MasterCard are used less, and are mostly listed in the overseas payment to facilitate non-Korean foreign guests to shop.PayPal is also used by many people in Korea, but it is not a mainstream payment method.

6. Australia, Singapore, South Africa, and South America

The most customary electronic payment methods are Visa and MasterCard for merchants trading with those in Australia, Singapore, and South Africa, who are also accustomed to making payments from PayPal electronic accounts. The online payment habits in Australia and South Africa are very similar to those in the United States, with the use of credit cards being more prevalent and PayPal being common. In Singapore, the banking triumvirate - OCBC, UOB, and DBS - has seen a rapid growth in Internet banking services, with easy online payments by direct credit and debit cards. There is also a sizeable online shopping market in Brazil, and while they are more cautious about shopping online, it is a very promising one.

7. Other less developed countries

such as the less developed countries of Southeast Asia, South Asian countries, the north-central part of Africa, etc., which also generally use credit card payments. In these areas with the electronic collection of the way to receive cross-border payments in less developed countries there is a greater risk. This time to make full use of the third-party payment service providers to provide anti-fraud services, prior to blocking out malicious fraud orders of risky orders, but, for the direct face of the customer's friends, once the orders received in these areas, or please think twice, more background checks to minimize business risks.