In Europe, many foreign trade merchants mostly choose PayPal and international credit cards for payment, but from a security perspective, both PayPal and credit cards are subject to the risk of chargeback. Therefore, in addition to this, I would like to introduce another local payment collection method, which is to use popular local payment tools in each country to collect payments, similar to the most commonly used "Alipay" and "WeChat Pay" by the Chinese, such as: Russian Electronics Wallet Webmoney, QiWi Wallet; Sofortbanking in Germany; iDEAL in the Netherlands, etc.

This method has gradually become popular, and many large e-commerce platforms, such as AliExpress, Dunhuang Bangkok, and Lantingjishi, have already been connected. On the one hand, it can supplement the population that is not covered by credit cards. , to increase the transaction rate; on the other hand, local payment does not support chargebacks, which ensures security for merchants.

1. PayPal

is currently the world's largest online payment provider, with more than 150 million users in 203 countries and regions around the world. It is the most effective payment method in cross-border transactions. Anyone with an email address can use PayPal to send and receive payments online. Supports mainstream payment methods such as credit cards, balances, foreign currency bank cards, and electronic checks.

However, because PayPal is based on credit cards, there is a risk of chargebacks, which increases the insecurity of transactions; and in countries with low credit card coverage, some potential customers will be lost.

2. International credit card payment

International credit card payment refers to the integration of international credit card payment gateways such as Visa, MasterCard, JCB, and American Express through third-party credit card payment companies Come to collect payment. The credit card collection channel also has chargeback risk and requires a 10% deposit. The fees are relatively high and the threshold for foreign trade is relatively high. It is suitable for people with financial strength.

3. Webmoney Russia - Electronic Wallet

WebMoney is an online e-commerce payment system developed by WebMoney Transfer Technology, a company founded in 1998. WebMoney can be used in countries including China Used in 70 countries around the world, WebMoney provides security. Transfers require mobile phone SMS verification, remote login IP protection and other multiple protection functions, and the money is received instantly.

Case studies: AliExpress, Dunhuang.com, Bangkok, and Global.com.

4. QiWi Russia - Electronic Wallet

One of the largest payment service providers in Russia, founded in 2007, its business covers Asia, Europe, the United States and Africa. There are over 400,000 transactions every day. Qiwi’s success lies in combining the local preference for cash consumption with the fact that only 5% of consumers have a bank account. Users can pay to purchase products immediately through QiwiWallet. Qiwiwallet has a relatively complete risk protection mechanism and will not cause buyer withdrawals. Therefore, there is no 24-hour review period for orders placed by buyers using Qiwiwallet, and sellers can ship the goods immediately after successful payment.

Case studies: AliExpress, Dunhuang.com, Global.com, and Bangkok.

5. Sofortbanking Germany - Online Online Banking Transfer

SOFORT was founded in 2005 and is headquartered in Munich, Germany. Sofortbanking, also known as sofortüberweisung, is an online bank transfer payment method in Europe. Supports bank transfer payments in countries such as Germany, Austria, Belgium, the Netherlands, Switzerland, Poland, the United Kingdom, and Italy. Sofortbanking provides a convenient, safe and innovative online payment solution for e-commerce by integrating bank payment systems in various countries.

Case: AliExpress, DHgate, Global.com, Bangkok, Global.com.

6. Giropay Germany - Online Online Banking Transfer

Giropay is an online payment method using online banking, which is simple, fast and safe. Giropay can provide online payment from more than 1,500 banks in Germany, which is safe and reliable.

When paying with Giropay, you are directed via a secure connection to your online banking account at your bank, where you can log in using your PIN and confirm your payment using your transaction password. Giropay was jointly established by Postbank, Sparkassen-Finanzgruppe and Volksbanken-Raiffeisenbanken.

So far, 21 million online banking users have used Giropay for payment; data shows that 80% of German online banking terminal users use Giropay.

Case studies: AliExpress, Dunhuang.com, Bangkok, and Global.com.

7. EPS Austria - Online Online Banking Transfer

It was jointly established by several major banks in Austria in 2005. It currently has more than 3 million end users and has become the most popular local bank. Online payment methods welcome.

EPS electronic payment is a new payment standard launched in Austria. EPS electronic payment is connected to Austrian Bank's online payment system and can provide convenient and secure online payment solutions.

Case studies: AliExpress, Dunhuang.com, Bangkok, and Global.com.

8. iDEAL Netherlands - Online Online Banking Transfer

Proposed and developed by several iconic banks in the Netherlands in 2005, iDEAL has become the most popular payment method in the Netherlands. In the Netherlands, more than 13 million customers of participating banks use iDEAL without registration. With iDEAL, users can operate directly online as long as they have a bank account.

Case studies: AliExpress, Dunhuang.com, Global.com, and Bangkok.

9. P24 (Przelewy24) Poland - Online online banking transfer

Przelewy24 is the most common online payment method in Poland, used by more than 95% of online banking users. Users can easily and safely Transactions are conducted on the Internet. As of now, Przelewy24 has 35,000 partners, covering more than 25 local banks and more than 30 financial institutions. More than 95% of local Polish banks support Przelewy24 payment.

Case: AliExpress, Dunhuang.com.

10. Multibanco Portugal—Online online banking transfer

Multibanco is a mainstream payment method in Portugal. The form of payment can be online bank transfer or offline ATM machine transfer. Multibanco connects a total of 12,700 ATM machines of 27 banks in Portugal. At the same time, it also has a complete EFTPOS network that can provide mobile phone and online banking services through tele Multibanco and mbnet.

These 10 methods are all listed. However, it is recommended that merchants should be compatible with multiple payment methods in terms of payment options, and do not put eggs in one basket. Now many merchants choose local payment + The credit card method firstly gives consumers more choices, and secondly, when there is a problem with a certain payment method, consumers can continue to try other payment methods for payment. The third is to reduce the risk of non-payment and prevent money from being tied up.