ChinaPay partners with PPRO Group to support Chinese cross-border e-commerce
ChinaPay, a Chinese financial services and payments provider, and PPRO Group, a cross-border e-payment specialist, have announced 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 eCommerce, 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 eCommerce 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.