INGENICO Group, a seamless payment company, is transforming how international ecommerce companies operate in China. By introducing a suite of payment methods that fully caters to the preferences of local consumers, Ingenico will enable online businesses to gain better access to one of the world's most significant online markets.
As 82% of the local Chinese population are unique mobile users, Ingenico has partnered with leading mobile payment platforms, Alipay and WeChat Pay, as well as with local card scheme UnionPay.
Ingenico is one of the very first international payment service providers (PSP) to support all use cases for WeChat Pay, including the capability to integrate into WeChat official accounts and mini-programs. This is a crucial advantage that allows the 1.1 billion WeChat users to complete their purchase without leaving the WeChat environment.
Additionally, Ingenico offers an upgraded Alipay integration to its customers, enabling these businesses to reach the vast majority of online consumers in China, while also allowing them to offer real-time payments, both on desktop and mobile devices.
Furthermore, Ingenico supports UnionPay's (UPI) SecurePay and ExpressPay solutions as part of a comprehensive payment solution designed to cater to a greater range of local payment preferences in China. Through Ingenico, merchants can offer Chinese Yuan (CNY) to consumers via these payment methods, which is critical for conversion and customer experience.
The new China is a huge opportunity for western businesses. It is the world's largest and most dynamic ecommerce market and a pioneering force in digital and mobile culture. In total, it has an internet penetration rate of 57%, representing 25% of internet users worldwide. However, it is a more challenging market to operate in than many others, as the unique domestic ecommerce ecosystem often demands specific solutions tailored to local preferences.
"Our long-time presence and activity in China means that we are perfectly positioned to partner with merchants wanting to access the truly local consumer market. Our expertise here, combined with this new set of payment capabilities, will allow international merchants to reach Chinese consumers that were previously difficult to access," explains Gabriel de Montessus, SVP global online (retail BU) for Ingenico Group.
"Our merchants will be able to offer all the relevant local Chinese payment methods in local currency denomination as part of their digital experience, which will help increase conversion," he adds.