![]() ![]() ![]() WeChat Pay and Alipay are the market leaders for mobile payment overseas and can help you to tap into this enormous market. 54% of user’s daily payment transactions happen via third-party payment providers such as WeChat and Alipay. Annual transaction number is 10.4 trillion, a 24% Year-To-Year increase. The estimated yearly third-party mobile payment transaction volume in Mainland China is about 152.77 trillion according to Ipsos 2018 Q4 Third-Party Mobile Payment User Report. Or you can implement it via one of the third party providers such as Payssion, Ingenico, Optile or Stripe. You can either write code that uses the API request and reply fields to integrate the platform’s cross-border PC payment solution into your existing order management system. There are two ways you can go about integrating these platforms into your website. Buyer receives a QR code to scan through their WeChatPay smartphone application for approving transactions. It works slightly differently it allows customers in China to pay for goods directly via online transfer from their account. WeChat Pay has been available to overseas vendors since early 2016. Once this is done you receive the payment. With this provider, once the buyer makes a purchase on your website, the platform will hold the money in escrow until the delivery of the product is confirmed by your consumer. Both of these third party platforms handle payment transactions.Īlipay has been around for about a decade now. ![]() If you are a foreign brand looking at entering the China market or targeting Chinese customers overseas, then Alipay or WeChatPay are a must. ![]()
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