China’s cross-border ecommerce is the next big bang

Comments (0) Cross-Border Ecommerce, Global Card Processing, Payments Events

“China’s cross-border ecommerce is the next big bang” was the conclusion of the recently launched white paper from Payvision, acknowledging the immense business opportunities China is offering to merchants around the world. But there is a lack of knowledge about these opportunities; Western merchants are still skeptical of Chinese expansion. Spending most of my time in Asia Pacific and observing the trends and the growth rates, I fully support this statement and advise merchants, PSPs and acquirers around the world to take action now and expand their business into China, because there would be no better momentum as this one!

Check this video to listen to industry’s experts their opinions and advice for Chinese merchants & companies and Western ones. For Youku version, please check: here.

The video was produced during two of the EChinaExpo 2014 conference, held on November, 27, in Shanghai; the 1st Global Ecommerce Innovation Forum organized by ISPC and endorsed by the Ministry Ecommerce of China, and the 2nd Cross-Border eCommerce Import Conference, organized by P2P International. Companies and government representatives such as Yandex, Payvision, WorldPay, B2C Europe, RLG China, Fact-Finder.com, Q.city, SF Express, Webpower, Bluecom, China Asos, Shanghai Customs, The American Chamber of Commerce, The Russian Post al Logistics Committee and so on, gathered together to discuss and exchange information on how to better support the cross-border expansion in and outside China.

With growth slowing in established markets, businesses are looking across borders to fuel growth. Today, the largest cross-border ecommerce flow is between the UK and the US. But if growth is slowing in both these countries, cross-border ecommerce can only grow so far. China, however, is a market on the verge of an explosion, bursting with international opportunities.

Online sales in China topped USD 236 billion in 2013, and for the first time were higher than in the US. And it doesn’t stop there; unlike the US, China still has a huge potential for growth. So China has now surpassed the US in total ecommerce sales, but it is only the tip of the iceberg. Other factors, both organic and deliberate, have created perfect conditions for an ecommerce ‘big bang’.

Harnessing these key differences such as culture, and consumer behavior and expectations, the latest government opportunities and the organic energy for cross-border ecommerce paves the way for a successful and rewarding international venture. Learn more about the Chinese cultures, trends, consumer expectations and business opportunities and download your free copy of the white paper Tapping into China.

It’s a very exciting time in China, as cross-border ecommerce and mobile are going to transform how the economy will be developing. Finding the right partners to support the cross-border expansion and local business integration will make the difference in such crowded and fast-paced market as China. In this sense, Cross-border eCommerce Community shows the main benefits companies can profit from when connecting to different ecommerce experts in areas such as: logistics, payments, legislation, translations, etc.

You may want to read also Payvision Enters into Collaboration with Dah Sing Bank.



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