Welcome! Thursday - Jun 22, 2017

The Payment Preference Landscape for China E-Commerce


Starting from this post, we will introduce a series of unique characteristics about online payment in China including:

1.       The Payment Preference Landscape for China E-commerce
2.       Why Third party online payment is Important in China
3.       Building Trust with Chinese Consumers via Cash-on-Delivery
4.       Best Practices for Payment Processing in China
5.       Mobile Payment

Chinese online shoppers choose a variety of payment methods that differ from their counterparts in other markets. Most recent data from 2012 suggests that Chinese consumers prefer online banking, third party online payment, cash on delivery and money transfers when making online purchases.

As of 2012, 63.1% of Chinese online shoppers used online banking  including both credit cards and debit card to pay for their online purchases. Third party online payment is also commonly adopted in China with 61.6% of online shoppers using it for online payment.

Roughly 50% of online consumers chose Cash on Delivery (COD) as one of their online shopping payment methods in 2011. This number decreased to 32.4% in 2012 but COD is still popular in China.

China, Online Payment, E-Commerce

 

Next post we will shed light on the essential role of third party payment solutions in China.

We value your feedback. Do you have any questions about online payment in China? Click here to submit your questions and we will get back to you with the answers you want.

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