TikTok, known as Douyin in China, has seen the integration of various payment methods to facilitate transactions, especially as the platform delves deeper into e-commerce. For cross-border sales on TikTok, the following payment methods are commonly used:
- Alipay (支付宝): Alipay is one of the dominant mobile payment solutions in China. Its vast user base and robust features make it a preferred choice for many consumers engaging in cross-border transactions.
- WeChat Pay (微信支付): Another major player in the Chinese digital payment landscape, WeChat Pay is an integral part of the WeChat ecosystem, offering seamless transactions for users within the platform.
- UnionPay (银联): While more renowned for its card services, UnionPay also provides mobile payment solutions and is commonly used for both domestic and cross-border e-commerce transactions.
- Bank Transfers: Traditional bank transfers, although less common for smaller transactions, might still be used for larger, more substantial cross-border purchases.
- Credit Cards: The acceptance of international credit cards is gradually increasing, especially for platforms targeting cross-border sales. However, they aren’t as prevalent as local payment solutions.
- QR Code Payments: Both Alipay and WeChat Pay utilize QR codes for facilitating quick and easy payments. Users simply scan the code with their smartphones to complete the transaction.
- Third-party Payment Platforms: Some cross-border sellers may collaborate with third-party payment platforms that specialize in facilitating international transactions. These platforms might integrate multiple payment methods into one interface.
- E-wallets: Digital wallets, apart from Alipay and WeChat Pay, are also gaining traction. These wallets store multiple payment methods and streamline the transaction process.
- Installment Payments: For pricier items, some platforms offer the option to pay in installments, allowing users to break down a larger sum into more manageable payments.
- Cash on Delivery (COD): Less common for cross-border transactions due to logistical challenges, but in certain scenarios or regions, COD might be an option.
For businesses aiming at tapping into the Chinese market via TikTok, it’s crucial to integrate local payment solutions, as they dominate the market. Collaborating with local partners or payment facilitators can simplify this integration process.
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!
