Payment methods in China: How China became a mobile-first nation

Shipping methods in China

Over the past few years, paying with mobile phone has become a daily gesture in China. According to a survey, in 2018 92% of people in China’s largest cities use Wechat Pay or Alipay as their main means of payment. The phenomenon is the same in rural areas: 47% of the rural population is reported […]

How to set up a Taobao shop to enter the Chinese market

setting up a Taobao shop

Taobao is Asia’s largest network retail business, founded by Alibaba group in 2003. As the largest online shopping platform, current business includes both C2C and B2C transactions. Today, Taobao has also become the most used online entrepreneurship platform. How can foreign businesses set up a Taobao shop and enter the Chinese market? Why it can be […]

Daxue Talks transcript #26: the dynamics of Chinese New retail explained in 5 minutes

Chinese new retail

Find here the Daxue Talks episode 26. Max Peiro tells us about how brands should break silos in the customer journey to offer a real and immersive omnichannel experience. This plays a rising role in the Chinese New Retail, where all brands are developing the greatest innovations to win the race. Full transcript below: Max Peiro:  […]

PayPal officially entered China’ online payment market | daxue consulting

PayPal

On September 30, 2019, the state-owned People’s Bank of China approved PayPal’s acquisition of the majority stake of GoPay (国付宝 Guofubao) – a company running third-party payment platform in China. PayPal acquired 70% of GoPay’s equity interest through its China-based subsidiary, MeiYinBao Information Technology (Shanghai) Co., Ltd. (美银宝信息技术上海有限公司), and became the actual controller of GoPay […]

What companies must know about China’s FinTech scene | Daxue Consulting

FinTech industry in China

FinTech is short for “financial technology” and refers to the application of technology within the financial services industry. This advanced and innovative combination unveils a remarkable breakthrough in modern technology. FinTech currently serves as the critical foundation to build differentiated customer experiences via personalization, quick response, relevance, and seamless delivery. There are two types of FinTech […]

The Red Packets advent in anticipation of the upcoming 2019 Spring Festival | Daxue Consulting

Chinese New Year gifts

“Not only Hongbao (红包, which means “red packets” are the red envelopes with money inside) should be present in the money transactions scenario, it’s also supposed to facilitate emotion expression and interesting interaction,” stated by Zhang Xiaolong, credited as “Father of WeChat”.,senior executive vice president and president of WeChat Group during the 2019 Wechat Open […]

Mobile Payments Become New Norm in China

mobile payments in China

In the country’s eastern megacities, using smartphones to pay at the grocery store is completely normal. Due to the e-commerce boom and the infrequent use of bank cards, the habit of online payments in China has spread quickly. This type of transaction can be performed by a computer or a mobile phone. But Chinese people […]

Online market in China: How Alibaba started

How alibaba started

Online market in China: How Alibaba started With Alibaba’s IPO set to break records, there’s been a surge of interest in the company from the West. Savvier followers of online commerce have already had their eyes on Jack Ma’s start-up and its spin-off sites since it handily beat eBay’s attempt to capture market share in […]