News and resources on payments systems, innovations and initiatives worldwide.

Wirecard provides payments backbone for Swiss Post China cross-border e-commerce marketplace

Source: Wirecard

Wirecard, the global innovation leader for digital financial technology, is providing the payment solution for Swiss Post’s “Your Gateway to China” service.

Thanks to the “Your Gateway to China” service, Swiss retailers can easily offer their products directly to Chinese consumers through major virtual marketplaces. Swiss Post offers Swiss small and medium-sized enterprises (SMEs) everything they need to open up to new markets, including market entry consulting, logistics and customs clearance, as well as links to local marketplaces. A wide range of quality Swiss products and well-known brands are already available on the virtual marketplaces. Wirecard processes all transactions carried out with leading Chinese payment methods on behalf of Swiss Post.

According to Statista, the Chinese e-commerce market is a global leader, with an estimated gross merchandise volume of EUR 4.1 trillion in 2019. Cross-border shopping has also played a key role in China’s e-commerce boom: the gross merchandise volume of China’s import e-commerce market reached EUR 14 billion in 2017, and that figure is expected to hit EUR 44.7 billion by 2021. The top purchase categories in this segment are food, beauty products, and fashion.

“We are very pleased about our international cooperation with Swiss Post,” commented Marion Laewe, VP Sales Retail at Wirecard. “We want to offer buyers and sellers simple and convenient checkout processes, no matter where they are. This collaboration is another development in crossborder e-commerce that we look forward to introducing in other regions in the near future.”

“Wirecard complements our overall solution and ensures an optimal shopping experience by incorporating the Alipay and WeChat Pay payment methods that are preferred by Chinese customers,” added Luigi Pezzuto, Head of PostLogistics International at Swiss Post. “Our offer to connect companies more effectively with the Chinese B2C market is an attractive proposition not only for Swiss companies. We are therefore considering offering this service to companies from all over the DACH region to enter the Chinese market.”

Comments: (0)