If you run a business that needs to accept payments from China, you’ll be glad to hear that there is a range of payment options available. Even international and offshore companies can access merchant platforms that accept Chinese payments.
That said, the specific option for you will depend on what you are selling, who you are selling to, and how large of a market you want to serve. In this article, we’ll explore the nuances of each and discuss how they can impact your payment processing options.
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How Do I Accept Payments From China?
Any difficulties that a business may face when accepting payments from China will likely stem from the client side of the transaction. This could mean that the payment processor identified a Chinese IP address, a VPN address, or a credit card issued by a Chinese bank, resulting in red flags.
Of course, Chinese customers can complete payments through traditional payment processing platforms, meaning that they can use their preferred method to complete a payment online. However, certain processors may be more sensitive than others to these “Chinese factors”.
In terms of transaction-specific considerations, banks and payment processors may consider the value of the payment, the specific parties involved, and the underlying product that is being bought and sold. All of these variables can also influence the perceived risk of a transaction and the likelihood that it is blocked.
That said, to accept payments from China, many businesses will not need to do anything special. Instead, they can start to accept payments from China using their existing payment gateway or payment processor.
In certain instances, businesses will need to contact their payment processor or enable a certain payment option, if they want to sell to clients through common Chinese payment apps. But, if they want to receive payments through standard payment cards like Visa or Mastercard, there are often no additional requirements.
Payment Service Provider
As mentioned, if you want to accept payments from China, standard payment service providers are often able to support payments from common forms of payment in China. This can include WeChat Pay, AliPay, and GrabPay as examples.
By using an existing service provider you can essentially use the same payment gateway to process all payments regardless of where the customer is located, within reason of course.
Online Payment Methods
In addition to the standard payment processing methods, businesses can also accept transfers directly from banks. That said, certain banks may have additional due diligence requirements when it comes to transfers from China. So, if you are starting to receive transfers from China for the first time it may be worth contacting your bank beforehand and discussing the transfer options.
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Frequently Asked Questions
Below are two of the most common questions that we receive from people looking to accept payments from China. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
Can I Use PayPal to Receive Money From China?
PayPal China is a secure payment option that you can use to send and receive money to and from China. In fact, PayPal is one of only a small number of international payment gateways that have been approved by China to operate.
Can Stripe Accept Payments From China?
Stripe accepts payments from most countries in the world, including China. However, if your business is focused on growing market share in China, you may also want to consider increasing the available payment options that you offer through Stripe to include common payment methods used in China like WeChat Pay, AliPay, and GrabPay. You can do this by making adjustments to your existing Stripe account from your Stripe dashboard.
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