Cross-border payment is an important part of cross-border e-commerce transactions. When operating or developing a cross-border e-commerce market in a region, it is recommended to use the following strategies to ensure that cross-border payment can escort cross-border e-commerce transactions.
(I) Combination strategy, use multiple cross-border payment methods in combination
In the global market, in addition to cash on delivery, commonly used cross-border payment methods include credit card payment, prepaid card payment, electronic payment, online banking, e-wallet, various mobile payment tools, etc. As for third-party payment methods, such as e-wallets, consumers in different countries or regions around the world have different preferences for use. Therefore, it is necessary to comprehensively weigh the usage rate and popularity rate, usage cost, characteristics and advantages of different cross-border payment methods, adopt a combination strategy of multiple cross-border payment methods, and use a combination of multiple cross-border payment methods to improve efficiency, reduce costs and avoid risks.
(II) Aim at the right target, combine the target market with its own characteristics
Due to the different economic development levels and economic environments of different countries or regions, as well as different consumer habits and usage preferences, when choosing cross-border payment methods and operating cross-border payment businesses, it is necessary to make a comprehensive balance based on the specific performance of the target market. In the global market, the level of cross-border payment in various regions is uneven, and the performance is significantly different. In cross-border e-commerce mature regions, such as Europe and the United States, the credit card penetration rate is high, electronic payment is developing rapidly, and the acceptance and popularity of cross-border payment applications are high. In countries or regions where cross-border e-commerce is not yet mature, the credit card and electronic payment penetration rates are low, and cross-border payment methods such as cash on delivery are more common. Facing different markets, we cannot adopt a one-size-fits-all, same-mode response approach. We should carry out cross-border payment business and implement cross-border payment strategies in a targeted manner according to the specific performance and market demand of the target market, and combine them with our own needs, operating models, business advantages and other characteristics.
(III) Relying on the platform to achieve synergy with the platform
In cross-border e-commerce transaction activities, cross-border e-commerce platforms are at the core of the business chain and need to be continuously developed and improved. In terms of the current development status, cross-border e-commerce platforms have a dominant advantage, and cross-border payment methods, as a supporting role of cross-border e-commerce platforms, are also affected by the development of cross-border e-commerce platforms. Cross-border e-commerce platforms are developing rapidly, but the development of cross-border payments still lags behind cross-border e-commerce platforms, and in turn restricts the development of cross-border e-commerce platforms. When operating or developing the cross-border e-commerce market, cross-border payment institutions should rely on cross-border e-commerce platforms to carry out cross-border payment business and seek the synergy between cross-border payment and cross-border e-commerce platforms.