Payment solutions in China

Edwardens · #1 (**permalink**) 03-04-09, 21:01

Generallly speaking, below payment solutions are applied in China for any foreign trading:
1. Telegraphic Transfer
You need to open a bank account for your customer to send the payment directly. You can get paid within 3 to 7 days.
However the buys need to bear high remittance charge. thus it is not well accepted by many foreign customers.

2. International remittance company
Such as Westunion and Moneygram
No need any bank account; you can get paid in 10 to 15 minutes.
Also the transaction charge is lower than that for T/T.

3. International payment platform
Such as Paypal, very popular in western countries, but the charge is a little bit high for small volume payment. Also it has strict verification policy; sometimes your account can be easily frozen.

4. Credit card payment gateway
credit card 3D, credit card Non-3D gateway, offered in Ctopay.
Most people in China choose this online payment gateway, as it accepts all currency and all major credit card and debit card.
The most important reason is the verification service; it can greatly reduce your payment risk.

5. Other international payment solutions:
Moneybooker, Ukash, Mydebit……

More and more people are beginning to choose online payment for its great convenience.

Amelia · #2 (**permalink**) 03-04-09, 23:33

Hi,

Thanks for the informative post, will help many of us here

Angela · #3 (**permalink**) 03-05-09, 01:16

Thats true, now a days people prefer online payments

Thanx for such a nice information.

Lazlo90 · #4 (**permalink**) 03-05-09, 15:18

In regards to Western Union, it's safe for RECEIVING payments but be wary of making payments via that service to unknown merchants as you could get scammed. I've heard that Western Union is not too cooperative when you are conned..

Chiana · #5 (**permalink**) 03-05-09, 16:13

Quote:

Originally Posted by Lazlo90

In regards to Western Union, it's safe for RECEIVING payments but be wary of making payments via that service to unknown merchants as you could get scammed. I've heard that Western Union is not too cooperative when you are conned..

That's a handy tip about Western Union. I'll keep it in mind for future reference. It can be difficult finding ways to send and receive payments when your primary currency doesn't always have easy ways to exchange.

anny feng · #6 (**permalink**) 03-06-09, 00:03

the solutions are really helpful, thanks!
online payment helps a lot in foreign trading.

Nefrec · #7 (**permalink**) 03-06-09, 20:28

Those are some nice solutions. Does this apply for other Asian countries too? I think it should beucase these all seem like international transactions. Which types of payment do people in China generally use themselves? (non-international)

carl owen · #8 (**permalink**) 03-07-09, 12:31

Payment solutions in China includes the following :-

1. bank remittance: T/T
2. payment gateways offered by Ctopay
VISA/MASTER 3D; VISA/MASTER non-3D( with AVs service)
3. other methods:
Paypal, Moneybook,Westunion.

Edwardens · #9 (**permalink**) 03-08-09, 21:33

Quote:

Originally Posted by Nefrec

Those are some nice solutions. Does this apply for other Asian countries too? I think it should beucase these all seem like international transactions. Which types of payment do people in China generally use themselves? (non-international)

As for the non-international payment solution in China, we often refer to Ctopay, which is located in Hongkong, it also can settle the global payment.
for more, you can refer to their service.

BodShane · #10 (**permalink**) 03-09-09, 14:13

Sounds Good.

Interesting part is that i did have a few clients who required assistance on the payment methods in China. Thanks for that!

I will definitely keep that in mind and will help us to assist our clients who reside in China.

Regards,

Shane Phillips

Edwardens · #11 (**permalink**) 03-09-09, 20:00

Quote:

Originally Posted by Shane Phillips

Sounds Good.

Interesting part is that i did have a few clients who required assistance on the payment methods in China. Thanks for that!

I will definitely keep that in mind and will help us to assist our clients who reside in China.

Regards,

Shane Phillips

You are welcome, Phillips.

different choice makes your business more flexible.
make a payment, make it safe and cost-less.

Theajie · #12 (**permalink**) 03-10-09, 01:13

Quote:

Originally Posted by Edwardens

As for the non-international payment solution in China, we often refer to Ctopay, which is located in Hongkong, it also can settle the global payment.
for more, you can refer to their service.

Does anyone know about ctopay?
They can settle global payment?
one of my suppliers from China, we often have to settle the payment,
but they do not like to use Paypal.
I would like to choose Ctopay, but have no idea for their online payment service.

Edwardens · #13 (**permalink**) 03-10-09, 04:22

Quote:

Originally Posted by Theajie

Does anyone know about ctopay?
They can settle global payment?
one of my suppliers from China, we often have to settle the payment,
but they do not like to use Paypal.
I would like to choose Ctopay, but have no idea for their online payment service.

Ye, as far as I know, Ctopay provides online payment service worldwide.
it is safe with the risk management service.
popular in China.

Sentinel · #14 (**permalink**) 03-10-09, 13:24

I have only bought one thing form china - a usb flash drive. It cost half the price from china as it would have in the UK, I paid with paypal, and everything went as normal. Online payments are starting to take over the world.

carl owen · #15 (**permalink**) 03-10-09, 13:31

Certainly. Ctopay provides payment services all over the world. Also, it is safe as the payment verification is done very well which is yet another benefit.