The Chinese opportunity

Transcription

1 The Chinese opportunity PAYMENT METHODS - MARKET GUIDE - CHINA Watch your business grow in this expanding ecommerce market

2 Why choose Worldpay? Introducing Asia s powerhouse 1 the complexities and challenges within the global market It boasts the world s largest population 1 and its second biggest economy. 2 Its massive growth has seen it become the largest market on the planet for cars and phones. 3 It has over 800 million internet users 4 and the busiest port in the world. 5 And its economy is set to grow at 5.5% per year until There s no mistaking it: for businesses, China is the place to be. 2 3 consumer needs global and local payments New challenges, new opportunities Lessons learned in other countries simply do not translate to China, a market truly unlike any other. China s uniqueness arises from its enormous size, rapid transformation, and distinctive economic development history. Approaching the Chinese market requires a fresh and unbiased approach to see that opportunity clearly. Reaching Chinese consumers requires knowledge, creativity and persistence. The dizzying size of the opportunity offers unprecedented potential for the properly prepared. Your chance to make an impact China s ecommerce market, which totaled $1.26 trillion in will increase by more than 40% to $1.78 trillion by There are 97 mobile subscriptions per 100 people 8 and a burgeoning middle class is clamouring for goods to spend its new-found wealth on. China s fast-growing, skilled labour force particularly in technology offers startups and more established companies alike the chance to capitalise. 65% of ecommerce spend in China is made by ewallet 7 80% online sales in the Asia-Pacific region that China accounted for in The challenges are unique. But so are the opportunities. 1. US Census Bureau, World Bank, Forbes, Technode, World Maritime News, The Economist Intelligence Unit, Worldpay Global Payments Report, World Bank, Forrester Report,

3 The numbers add up ecommerce projected growth - mobile and desktop 2018e 2022 Card schemes in China Get connected to China with Worldpay Entering a new market can be a challenge. But it s a lot easier when you do it with an international payment partner with local expertise. Join the 700+ international companies growing their business in China with Worldpay. US $746B US $1,185B 99% UnionPay 1% Visa The global payment experts Your one-stop shop for payments in China Faster and less expensive access to the Chinese market Get local knowledge and support from our office in Shanghai Benefit from our years of experience US $515B US $600B The most popular payment methods There are three ways to access China with Worldpay: UnionPay, WeChat Pay, and Alipay. Let s have a look at each... Chinese ecommerce market payment methods ewallet 65% Bank transfer 11% Credit card 9% Charge & deferred debit card 5% Debit card 5% Cash on delivery 3% Prepaid card 2% Source: Worldpay Global Payments Report,

4 Boasting 700 million registered users 10, this ewallet allows you to offer China s most popular payment method and the one with the largest average transaction value. We offer integration through Worldpay s single API, consolidated reporting and nine settlement currencies. A big brand in a big market Enhance the customer experience with Alipay Optimised A mobile experience that is simple and frictionless Flexible Receive funds in your nominated transfer currency WeChat Pay is China s leading payment method. The opportunity is huge, as mobile commerce in China is projected to grow a total of 59% through We provide seamless integration to WeChat Pay and offer a wide range of settlement currencies. Customers can pay through their WeChat account, with a QR code or via third-party apps. Flexible and very popular Widely available 1 billion monthly active users of WeChat 12 Convenient Customers can pay in a variety of ways Increase opportunities with WeChat Pay Reach more customers with UnionPay 11 Nine popular currencies Settlement in USD, EUR, GBP, JPY, AUD, CAD, NZD, HKD and SGD The most popular card scheme in China is perfect for accepting payments. Fun fact: 99% of card transactions in China use UnionPay, considerably higher than all other schemes combined (1%). 11 We re the biggest acquirer of UnionPay ecommerce transactions outside China, and we give you access to cardholders inside and outside of China in Chinese Yuan (CNY). 10. PYMNTS.com September 18, Worldpay Global Payments Report, The fastest-growing card scheme in the world Two options to choose from: Single Click (Merchant Hosted) SecurePay Secure SMS-verified checkouts for extra protection. With SecurePay, the issuer assumes fraud liability risk. Seamless Fast enrolment process and checkout. Shopper is not redirected for Single Click. One time verification with Single Click that increases repeat payments. 5 6

5 Ready to take the next step? Our experts are here to answer your questions, offer their insight and help you set up a rewarding payment platform in China. Talk to us at worldpay.com/global/about/contact-us or get more information at worldpay.com WEC Worldpay, LLC and/or its affiliates. All rights reserved. Worldpay, the logo and any associated brand names are trademarks or registered trademarks of Worldpay, LLC and/or its affiliates in the US, UK or other countries. All other trademarks are the property of their respective owners. Worldpay (UK) Limited (Company No / FCA No ), Worldpay Limited (Company No / FCA No ), Worldpay AP Limited (Company No: / FCA No: ). Registered Office: The Walbrook Building, 25 Walbrook, London EC4N 8AF and authorised by the Financial Conduct Authority under the Payment Service Regulations 2017 for the provision of payment services. Worldpay (UK) Limited is authorised and regulated by the Financial Conduct Authority for consumer credit activities. Worldpay B.V. has its registered office in Amsterdam, the Netherlands (Handelsregister KvK no ). WPBV holds a licence from and is included in the register kept by De Nederlandsche Bank, which registration can be consulted through Each of Worldpay (UK) Limited, Worldpay Limited, Worldpay AP Limited and Worldpay B.V. is part of the Worldpay group of companies including Worldpay, Inc. (a Delaware company).