Accept Payments From China [China Business]

If you run a business that needs to accept payments from China, youโ€™ll be glad to hear that there is a range of payment options available.

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, weโ€™ll explore the nuances of each and discuss how they can impact your payment processing options.

Weโ€™ll also discuss whether exploring alternative payment methods like offshore payment processing may be worth considering.

Feel free to use the table of contents to jump ahead to any sections that are immediately relevant to your search.

Table of Contents

  1. How Do I Accept Payments From China?
  2. Frequently Asked Questions
  3. Ready to Explore Your Options?

How Do I Accept Payments From China?

Any difficulties that a business may face when accepting payments from China will likely stem from the transactions being sent. Of course, transactions are complicated by the industry, how payments are received, and the parties involved.

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.

That said, in order 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, donโ€™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.

Ready to Explore Your Options?

If you would like assistance navigating your banking options at home or abroad, we can help.

You can access GlobalBanks IQ, our international banking intelligence platform, in just a few clicks. Unlock our bank database, individual bank profiles, account opening strategies and reports, banker scripts, and more.

But, if you want a 100% personalized account opening service that taps into our teamโ€™s expertise and provides direct banker introductions, you can get started with GlobalBanks Insider.

Of course, if you have any questions, please contact us directly.

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