(Source: https://pltfrm.com.cn)
Chinese consumers have distinct preferences when it comes to payment methods, heavily influenced by the widespread adoption of digital payment solutions. Here are the most preferred payment methods in China:
1.Mobile Payments
Alipay (支付宝): Operated by Alibaba’s affiliate Ant Group, Alipay is one of the most popular mobile payment platforms in China. It’s widely used for online shopping, bill payments, and in-store transactions.
WeChat Pay (微信支付): Integrated into the WeChat app, this is another dominant mobile payment service. It’s used for a variety of transactions, including retail purchases, peer-to-peer transfers, and utility payments.
2.UnionPay
Credit and Debit Cards: While not as prevalent as mobile payments, credit and debit cards, especially those issued by UnionPay, are still commonly used, particularly for larger transactions.
3.Bank Transfers
For larger transactions, especially in a B2B context, direct bank transfers are commonly used. Online banking platforms facilitate these transactions efficiently.
4.Cash（现金）
While the use of cash has significantly decreased due to the rise of digital payments, it is still accepted, particularly by smaller vendors and in rural areas.
5.Buy Now, Pay Later Services
This is a relatively new trend in China, where consumers can purchase products and pay for them later in installments. Services like Ant Check Later (花呗) by Alipay offer such facilities.
6.Contactless Payments（NFC支付）
NFC-based contactless payments are also gaining traction, especially in urban areas, for their convenience in public transport systems and quick retail transactions.
Foreign businesses entering the Chinese market should ideally integrate these payment methods, especially mobile payments like Alipay and WeChat Pay, into their transaction systems to cater to local consumer preferences. This integration not only enhances the customer experience but also boosts the credibility of the business among Chinese consumers.
PLTFRM is an international brand consulting agency that works with companies such as Red, Tiktok, Tmall, Baidu, and other well-known Chinese internet e-commerce platforms. We have been working with Chile Cherries for many years, reaching Chinese consumers in depth through different platforms and realizing that Chile Cherries exports in China account for 97% of the total exports in Asia. Contact us and we will help you find the best China e-commerce platform for you. Search pltfrm for a free consultation!
