Why Should You Accept Credit Cards in China?
Selling your products or services may seem a little “foreign” to you. But here’s a fact… At the current rate, China will surpass the United States this year as the world’s leading online retail market for the first time, reaching over $282 billion.
It might not be in your immediate business plan, but there are plenty of reasons why you should provision for international sales. Without taking too much of your time, here a few reasons why you should accept credit cards in China:
1. Total Chinese retail sales grew 8.9%.
2. This year, online sales in China grew 34.7% in the first three quarters.
3. This was equivalent to 1.3 trillion yuan.
4. About 200,000 Chinese companies now engage in cross-border e-commerce.
5. The Chinese government is taking steps to make cross-border internet trading easier and cheaper.
It’s clearer than ever that Chinese consumers are embracing e-commerce and shopping online. And if we want our businesses to see their full potential, we must not limit our customer bases. Accepting credit cards in China is the first step in maximizing our global reach.