Payment methods in China

Payment by card 

• In China, e-commerce represents 25% of total retail sales. It’s the biggest eCommerce market worldwide. Out of more than 1.4 billion Chinese, 782 million already buy online, which is nearly 80% of Internet users.
  Less than 5% of online payments are made by credit cards. International cards (Visa, Mastercard) are very rarely used due to the lack of trust of the Chinese towards them. Debit cards are fairly widely used by Chinese consumers for their online purchases.
• With local actors such as:
  • UnionPay
  • ICBC

Payment by installment and BNPL

• China’s BNPL industry has emerged as one of the fastest-growing markets in the Asia-Pacific region. BNPL payment in China would have grown +50% in 2021 to nearly $82.78 billion.
• With local actors such as:
  • Happay
  • Huabei by Alipay
  • WeChat Pay
  • Paymero
  • Lexin

Payment by digital wallet and X-Pay

• In the Middle Kingdom, everything goes through the mobile since 80% of BtoC online sales are made via smartphones.
• With local actors such as:
  • Alipay
  • QQ
  • WeChatPay
  • HuaweiPay
  • TNG
  • Meituan Pay
  • MiPay
  • UnionPay
  • JDBank
  • JDFinance

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