The difference between payment habits in different regions for the global market

Online payment system for shopping websites, although they are diversified because of different countries and different levels of consumer application, the most mainstream online payment method is based on receiving credit card payment. The most mainstream online payment services are also provided by third-party payment providers. Therefore, it is the theoretical basis of online payment to understand the relevant theories of the credit card payment channel provided by the third party payment service provider. In addition, because the payment fraud on the Internet has occurred, so also want to understand the online payment related security protocols. This is essential for developing trusted and secure shopping sites.

The payment system for the shopping site, she is designed based on the consumer's payment habits and payment service providers to provide the functions. Consumers commonly used payment tools have credit cards, debit cards, wire transfers and so on, so the payment system for shopping sites, to provide these payment tools to receive the payment method. There are differences in consumer payment habits in different regions, which is important for online sales sites that target global markets. Supporting multiple payment methods is one of the most important means to improve the success rate of payment, for example, in the UK, only three local bank cards, such as Maestro, Delta and solo, can increase the order by nearly 30%.

When people in different regions of the world are shopping online, there is a difference in the way they pay for their purchases, and the following regions list the differences in payment habits.

North America (generally referring to the United States and Canada)

North America is the world's most developed online shopping market, North America's consumer habits and familiarity with a variety of advanced electronic payment methods. Online payments, phone payments, mail payments and other forms of payment are not unfamiliar to American consumers. In the United States, credit cards are the most paid way to use online. In general, third party payment services companies in the United States can handle Visa and MasterCard (MasterCard) credit cards that support 158 currencies, Anglo Express cards in 79 currencies, and Dalle (Diners) cards that support 16 currencies. PayPal is also an unusually familiar form of electronic payment for Americans. Chinese businessmen doing business with the US, familiar with these electronic payments, are the way to do business in the United States, and must get used to and use all kinds of electronic payment tools. Our experience is that America is the region with the least credit card risk. Orders from the United States, because the quality of the reasons for the dispute is not many cases.

European Region

Europeans are most accustomed to electronic payment methods in addition to Visa and MasterCard (MasterCard), and other international cards, but also like to use some local cards, such as: Maestro (UK), Solo (UK), Laser (Ireland), Carte Bleue (France), Dankort (Denmark), Discover (USA), 4B (Spain), Cartasi (Italy), etc. It is also a reminder that Europeans are not so fond of using PayPal, and that their familiar electronic accounts are moneybookers. According to our experience, European and Chinese merchants have more contact with the countries of the country including Britain, France, Germany, Spain. Comparatively speaking, the UK's online shopping market is relatively developed, and many characteristics similar to the United States, such as PayPal in the United Kingdom is also very common use, of course, the use of the British PayPal account to collect more favorable. In general, European consumers are more honest, compared to Spain's online retail has a greater risk.

Japan

Japan's local online payments are based on credit card payments and mobile phone payments, the Japanese own credit card organization JCB, the support of 20 currencies of JCB card is more commonly used online payment. In addition to the average Japanese will have a Visa and MasterCard (MasterCard). Compared with other developed countries, Japan and China's online retail trade is not so developed, but offline Japanese consumption in China is very active, especially for Japanese tourists, the use of shopping websites can establish long-term links. At present, Alipay and Japan SoftBank Electronic payment (SOFTBANK PAYMENT Service Corp, hereinafter referred to as sbps) has signed a strategic cooperation agreement for Japanese enterprises to provide Alipay Cross-border online payment services. It is estimated that as Alipay enters the Japanese market, the domestic custom Alipay user can also use Alipay to collect the yen directly in the near future.

The number of people using mobile phones to surf the internet in Japan has surpassed the use of personal computers, and they are accustomed to using mobile phones for online shopping. Their mobile phone can be used to do airport boarding verification, building access keys, traffic card (map), credit cards, payment cards and so on. Behind these applications are the Sony subsidiary FeliCa Inc., which provides technical and software solutions. Pay the phone built-in FeliCa payment chip, embedded in the chip user identity information and payment data. These chips are provided by Sony Union Renesas and Toshiba. In addition, the Alliance of Sony, mobile phone operator NTT Docomo, traffic operator JR East promotes the development of mobile payment ecosystem. Operators, shops, credit card issuers and handset makers have reached a unified agreement, with FeliCa responsible for the implementation. Now, in several of Japan's largest cities, 1.1 million people use Suica mobile phones to purchase tickets or buy items from automatic counter machines.

China

In the country, the most mainstream payment platform is paid by Alipay and Tenpay, led by non independent third party, these payments use the mode of recharge payment, they are integrated most of the bank's online banking function. So in China whether credit card or debit card, as long as your bank card opened online banking functions, can be used for online shopping. In China, the use of credit cards is not very popular, so most people still use debit cards to pay. Credit cards have grown very fast in China, and credit cards are expected to spread in the near future. In young white-collar groups, the use of credit cards has become a very common phenomenon. This trend also heralds the site's direct payment of credit cards will slowly develop.

Hong Kong, Taiwan and Macau

In Hong Kong, Taiwan and Macao, the most customary form of electronic payment is Visa and MasterCard (MasterCard), who are also used to paying money with PayPal electronic accounts. According to Taiwan Media Digi Times, Taiwan's leading e-commerce provider, network trading platform Edynamics (network Technology) announced November 27 officially launched with China's largest electronic payment platform, Alibaba Group subsidiary-Alipay Cooperation. According to Edynamics President Jimmy Yiu introduced, the future domestic Alipay users can be in Taiwan's shopping website (edynamics) on the shopping, and through Alipay to solve the payment problem.

Korea

In Korea online shopping market is very developed, their mainstream shopping platform is Consumer-to-consumer platform, such as auction, Gmarket, 11ST and so on. There are also numerous online shops for business, such as the shops of some brand enterprises and the shops of some celebrities. South Korea's online payment method is more closed, generally only to provide bank cards for domestic banks online payment, Visa and MasterCard (MasterCard) use of less, and more listed in overseas payment methods, to facilitate non-Korean foreign guests shopping. PayPal in Korea also has a lot of people to use, but not a mainstream way of payment.

Australia, Singapore, South Africa and Southern America

As traders in Australia, Singapore and South Africa, the most customary form of electronic payment is Visa and MasterCard (MasterCard), who are also accustomed to paying with PayPal electronic accounts. Online payment habits in Australia and South Africa are similar to those in the United States, with more credit cards and more common PayPal. In Singapore, internet Banking services for the big three banks of the banking sector, the Bank of China and DBS are booming, and online payment of direct credit and debit cards is convenient. In Brazil there are not small online shopping market, although they are more cautious online shopping, but also a very promising market.

Other less developed countries

These areas such as South-east Asia less developed countries, South Asian countries, north-Central Africa, and so on, these areas are generally using credit cards to pay. There is a greater risk of receiving cross-border payments in less developed countries by electronic receipts in these areas. This is the time to take full advantage of the anti-fraud services provided by Third-party payment providers, block out the malicious fraud orders and risky orders in advance, but as a direct face to the customer, once you receive orders from these areas, or please think twice, do more background checks, minimize your business risk.

This digest has been published in the "online payment-network business Success"