ChinaPay, a Chinese financial services and payments provider, and PPRO Group, a cross-border e-payment specialist, announces today a partnership to bring over 15 European alternative payment methods (APMs) to ChinaPay’s Chinese merchants. The partnership will help to expand the merchants’ customer reach across Europe, with the possibility of adding additional APMs in the future.
There is huge potential in China for cross-border e-commerce, both into and out of the country. In fact, recent research has found that in 2018, 74 million people are already shopping cross-border from China, compared to 41 million in 2016. Not only that, but Chinese merchants’ cross-border sales from outside of China have reached 8.8 trillion RMB compared to 6.3 trillion RMB in 2016, showing an appetite for Chinese goods from international customers.
International e-commerce opportunities are currently out of reach for Chinese merchants because of the need to have a local presence in order to process local payment methods. Through this partnership and PPRO Group’s simple cross-border solution, Chinese merchants looking for international expansion outside of China will be able to leverage the revenue streams the European e-commerce market has to offer. ChinaPay will be able to provide its merchants with access to several established European payment methods, including eps, giropay, iDEAL, Qiwi and SafetyPay.
Covering the entire value chain, from acquiring through to processing, local collection and reconciliation, PPRO Group offers all acquiring services for a multitude of international APMs across more than 100 countries. Under one contract, through one single integration and one platform PPRO processes, collects, reconciles, consolidates and pays out all payments for PSPs’ and acquirers’ merchants.
An executive at ChinaPay comments: “Europe represents huge opportunity for global e-commerce and as such is an important market for Chinese merchants. We want to be able to facilitate this global trade for our customers – local payment options are integral to this which is why we are so pleased to be partnering with PPRO Group to provide a selection of popular APMs for our customers.”
ChinaPay recognises the importance for merchants to offer international payment methods to facilitate custom from outside of China. Customers will always want to use their preferred payment methods, otherwise they will simply shop elsewhere. This is an exciting partnership with ChinaPay that will help Chinese merchants in their journey to going global,” states Ronnie D’Arienzo, Chief Sales Officer, PPRO Group.