Practice Goal
Ability Goal
Be able to register PingPong and bind a Wish account
Be able to register PayPal and bind a Wish account
Knowledge Goal
Understand Wish’s loan policy
Be familiar with the third-party payment and UnionPay payment procedures
Be familiar with the rules of third-party payment platforms
Operation Task
One month later, Zhang Yue, an operations specialist at Hangzhou Yuanchuang E-Commerce Co., Ltd., received more and more orders. After the customers received the goods, the payment was placed on the Wish platform, waiting for Wish to release the money.
Task 1: Register PingPong and bind a Wish account.
Task 2: Register PayPal and bind a Wish account.
Operation Guide
1. Use PingPong to receive payments
1) PingPong registration steps
Individual and corporate sellers can apply for a PingPong payment account.
(1) PingPong registration preparation materials.
The materials you need to prepare are: ①Email address used to register an account; ②Mobile phone number used to register an account; ③Photos of the front and back of your ID card; ④Photos of yourself holding your ID card.
(2) Pingpong registration steps.
Registration link: https://www.pingpongx.com/zh.
①Fill in your mobile phone number.
②Select “Personal Information Registration” and complete the information.
③Click the “Continue to Complete” button.
④Complete the email address and transaction password and set security questions, and click the “Send Verification Email” button.
⑤The email is sent successfully, activate it in your mailbox, and then go to real-name authentication.
2) Pingpong binds to Wish store
(1)Select “Payment Settings” in the “Account” in the upper right corner of the Wish backend.
(2)Select “PingPong Finance” as the provider in the payment information on the left side of the page. Then click the Register button below to jump to the PingPong backend to confirm the binding.
(3) After the store is bound, authorize the store in the PingPong financial backend.
(4) After the store is reviewed, go to the Income Account page to add an income account. Fill in the bank card information for receiving payments and submit.
After the binding is completed, the payment intercepted by Wish can be credited to the merchant’s PingPong account 5 to 7 working days after the Wish regular transfer date.
2. Receive payments using PayPal
1) PayPal account registration steps
(1) Open the website www.paypal.com, which is a Chinese website, and click “Register” in the upper right corner. Select “Merchant Account” and then click the “Create Merchant Account” button.
(2) Enter the registered email address.
(3) Fill in basic account information.
(4) Provide company details.
(5) Provide account holder information.
(6) Verify your email address and activate your account.
(7) Account authentication. Bind your UnionPay card for authentication. You can withdraw cash from your PayPal account only after the authentication is completed.
2) Steps to bind your PayPal account to Wish
Click https://merchant.wish.com/payment-settings and select PayPal China.
Knowledge link
1. Introduction to PayPal
Both individuals and companies can apply for PayPal. PayPal is a global payment platform that can be used in more than 200 countries. The use of PayPal account balance is convenient and simple, and the methods of withdrawing account balance are flexible and varied.
The features of PayPal are as follows:
(1) PayPal charges a certain platform service fee based on a percentage of the transaction amount, so it is suitable for small transactions with a single transaction of less than US$3,000.
(2) Strictly implement the inspection of counterfeit and shoddy goods. Once it is found that you are selling counterfeit and shoddy goods, your account will be frozen immediately.
(3)Accounts can easily be frozen for 3.9% of the transaction amount + 0.3USD (US dollars) due to misoperation. The payment to the seller’s bank account is very fast and available immediately. It takes 2 to 7 working days to withdraw cash from PayPal.
2. Pingpong Introduction
Both individuals and companies can apply for Pingpong.
1) Advantages of Pingpong cross-border payment
(1) Collect the payment from the seller on the cross-border e-commerce platform in advance to ensure the return of funds.
(2) Transfer the payment from the cross-border platform to the seller’s domestic bank, and the payment will be received in as fast as 2 hours.
(3) Can automatically pay VAT (Value-added Tax) for the seller.
(4) Supports payment from multiple platforms such as Wish.
(5) The maximum collection fee is 1%. The handling fee is calculated based on the currency corresponding to the e-commerce platform site (US dollar, Canadian dollar, Japanese yen, euro, British pound, Australian dollar, and Singapore dollar). For example, if you withdraw 1,000 US dollars, the RMB you will receive is 1,000x (1-1%) x the US dollar spot purchase price at the time of settlement. The currency used for charging has no effect on the final collection amount.
2) The difference between pingpong’s corporate account and personal account
(1) The difference in withdrawal accounts: corporate accounts withdraw cash to the corporate bank card; personal accounts withdraw cash to the registrant’s personal bank card.
(2) The difference in withdrawal currency: corporate accounts can withdraw cash in RMB or foreign currency; personal accounts generally default to RMB.
3. Introduction to Payoneer
Both individuals and companies can apply to register for Payoneer.
Payoneer features are as follows:
(1) There is no national settlement limit of up to US$50,000 for personal foreign exchange transactions.
(2) Supports multi-currency transactions at the official exchange rate.
(3) Supports MasterCard, US bank accounts and European bank accounts for collection.
(4) The cash withdrawal fee ratio is relatively high and shall not be less than 1% of the transaction amount.
Professional Terms
Account Balance
Corresponding Payables to 3rd Party Merchant
Payments
Operation Practice
Register a payment method and bind a Wish account.