Over two-thirds of businesses have experienced more sophisticated fraud attempts across multiple customer-not-present channels this year.
E-Commerce in China does not take up a large part of the national revenue. In the following years, a yearly growth rate of 17% is expected - growth will especially be strong in M-commerce. M-commerce is expected to quadruple itself in the next four years.China is the world's leader in asset circulation through mobile wallets. 76% of all Chinese use or would like to use mobile wallets.
Online transactions are generally made through E-Wallets (60% of transactions) - with the Chinese provider Alipay as forerunner. Credit and debit cards make up 19% of the market share. UnionPay issued 96% of all Chinese cards, Debit and Credit cards combined.
While UnionPay’s influence is expected to grow even further to the detriment of alternative payment methods, it should be noted that China opened its market to foreign card payment companies only in June 2015. In August 2017, Visa was the first overseas card payment company to apply for a bank-card clearing license.
The Chinese oversea E-commerce is mainly due to large international sales from Chinese merchants abroad. China is the world's biggest exporter. Most goods are delivered to the USA, UK and Hong Kong. On a smaller scale, Brazil, India, Germany, France, Russia, Japan and South Africa also are important commercial partners for China.
Credit card 10%
Debit card 9%
Pay on delivery 7%
Bank transfer 6%
827 Bil. USD
Population: 1.378 Bil.
Internet Usage: 57%
Source: Worldpay - Global payments report, Nov 2015
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