Expanding online sales in to China should be on every ecommerce operator’s agenda.

If not, here are some reasons to change your mind: According to Boston Consulting Group, China ecommerce is set to overtake the US in terms of transaction volume by 2015, and as at the end of December 2011, China Internet Network Information Centre reported that China had 513 million Internet users.

That ought to be something to really excite ecommerce operators – if you know how to capture a share of the market, that is. It starts with understanding the payment setup in China.

Unlike credit and debit cards issued around the world, there is only one central domestic bankcard association in China, that is, China UnionPay. Three in 10 cards worldwide now bear the UnionPay logo, and very few people in China (less than four per cent) hold a MasterCard or Visa card.

For ecommerce operators, the solution to capturing a share of the ever-growing market in China is simple. Start accepting UnionPay cards as a payment option on your website.

China Payment Services (CPS), part of the Payment Network International group, offers online payment solutions that caters for international merchants looking to accept Chinese debit and credit cards (UnionPay cards) on their website. The Australian company has established a partnership with the leading online payment subsidiary of China UnionPay, as well as numerous banks across China.

Tony Trimboli, Chairman of China Payment Services explains: “China Payment Services provides ecommerce operators with the tools to accept payments from Chinese customers, through a highly reliable, multi-lingual payment platform.

“Our competitive advantage is that we are an Australian owned and operated company that offers a unique and powerful solution with competitive rates, multi-lingual support and quick and easy integration.”

The previous challenge faced by international merchants trying to accept payments from Chinese customers was the inability to accept payments in Renminbi unless they had a Chinese Bank Account. CPS simply closes this gap through its targeted approach and established partnerships, eliminating the need for ecommerce operators to have any physical presence or account in China.

“CPS offers merchants in industries such as travel, accommodation and education the ability to accept customers from China using the primary and preferred transaction service of over 500 million card uses” Benjamin Banks Vice President Business and Strategic Development

If you are really serious about selling online to China and want to maximise profits, then strategic marketing and distribution plans must be set in place. China Payment Services is one step ahead. All approved clients of CPS receive a supplier directory that lists marketing, translation, distribution and consultancy companies that have experience in and/or have been recommended by companies that have sold to China.

What about the other payment types? Cash on Delivery (COD) as a payment option still makes up a notable percentage of payment preferences due to the low level of risk involved. With COD, Chinese customers can inspect the item to their satisfaction and then make their payment. This being said, the trend towards using debit/credit cards rather than COD is continually increasing as more online merchants integrate the option of online card payments in China. Many large international eCommerce merchants in China are choosing to offer liberal return policies for card payments, rather than provide a COD option.

Ecommerce operators are simply losing out if they are not focusing and adapting to the dramatic trends in China eCommerce. The online consumer market in China is rapidly growing, and predicated to continue growing at an exponential rate. With more and more Chinese Nationals travelling abroad for both leisure and education now is the time ecommerce operators should seek to expand their global reach by accepting UnionPay cards online.

For more information about accepting online payments from China, contact China Payment Services

www.chinapaymentservices.com

info@chinapaymentservices.com

Tel: +61 7 3113 4029