E-commerce is booming in China as consumers and vendors look to the Internet to save money in tough economic times, but the main beneficiary of their migration may be online payment providers.
Chinese payment providers like 99Bill Corp. have soared on the growth of Internet shopping, changing user attitudes and their own success at offering new payment options in a country where credit cards remain rare.
More at: The Industry Standard
source: http://www.globalcollect.com
Research shows that depending on country, and demographic group, consumers indicate that given equivalent pricing and product, accepting the payment type they prefer is a key influencer in their purchase decision.
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There are three categories payment risk falls under:
1. Credit – the risk that a customer will not have sufficient funds
2. Fraud – the risk that payments are accepted with deceptive information
3. Repudiation – the risk that a customer does not honor their payment (charge-backs)
It is best to work with a payment specialist that understands the global market when deploying your payment solution. Many markets are still fragmented and a misstep while navigating the global payment marketplace can set you back several months.
