If you’ve ever thought about starting an online business and diving into the world of e-commerce, you’ve probably considered a ‘payment processor.’ If you’re here, you already know that Allied Wallet processes more currencies in more countries than the competition.
So why is this important?
Let’s take a look at business in China. Allied Wallet is one of the few processors that can process in China. Many solutions will let you sell to Chinese consumers and only Chinese consumers. Some will not let you sell into China.
The fact of the matter is, Chinese consumers are hungry for western products.There are about 1.3 billion people in China. 40% of the population consists of internet users.
Vishop Holdings, a Chinese discount apparel online retailer recently saw an increase in revenue of about 160%. Its customer base has increased to about 3.5 million people. Their net revenue has increased to about $351.3 million compared to a net loss of 5.8 million in the prior year.
Mobile sales are up and now account for 14% of their total sales, and their repeat purchase rate is now at about 75%.
It’s important to consider how international sales can be a rewarding and successful route. Why limit your business within the borders of your own country?
When starting your online business, remember to choose an e-commerce payment provider that can accept every possible currency in every country while providing secure services and fraud protection.
Find out more about accepting payments in China here.