American Express Becomes First Foreign Payments Network To Receives Approval In China
American Express announced its joint-venture in mainland China, Express (Hangzhou) Technology Services Company Limited (Express Company), has received final approval from the People’s Bank of China (PBOC) for a network clearing license to become the first foreign payments network to clear local currency transactions. Amex in a statement said that is has built a network […]
Brands in China Embrace Live Streaming to Overcome Business Impact of The Coronavirus Outbreak
In an effort to minimize the impact of the Coronavirus outbreak that crippled China’s retailers and online merchants, the Alibaba Group offered a great insight into how some Chinese merchants used its live streaming services to reach consumers that were staying at home. The Taobao Live, Alibaba Group’s live streaming platform, saw a sharp rise […]
FedEx Updates Customers on Operations Impacted by Coronavirus
The Coronavirus outbreak continues to impact global trade and shipping. Postal services and courier companies are updating customers on current operations, especially to regions affected by the health emergency. Last week the U.S. Postal Service announced it was no longer accepting transit shipments and warned customers that shipments to China and Hong Kong might be […]
U.S. Postal Service Suspends Delivery Guarantee on Shipments to China
There have been Internet rumors that the United States Postal Service has stopped accepting mail going to China. These rumors stem from a story reported by the AP that said the USPS had informed its counterparts at the Universal Postal Union (UPU) that it would no longer accept transit mail destined to China, Hong Kong, […]
UK Agrees Deal With Huawei Over 5G Technology
Just days away from Brexit and Prime Minister Boris Johnson has made a bold move in agreeing in part to a deal where Huawei would help bring the 5G infrastructure to the UK. This is a big deal as the USA had been strongly opposed of this deal for the main reason of security. Huawei […]
How Coronavirus Could Impact Global eCommerce?
At first glance global events can seem to have a positive impact on global eCommerce. Just like when a hurricane threatens mainland USA the local state affected will enter panic buy mode and stock up on their provisions. Then if people are quarantined or on ‘lock down’ many will turn to some retail therapy in […]
Chinese Shoppers to Snub American Brands on Singles Day
It looks like Singles Day is going to be a gloomy, fruitless day for American brands as 78% of Chinese consumers plan to snub them and opt for local brands, according to a report by consulting firm AlixPartners. The report was based on a survey of 2,000+ Chinese adult shoppers that was conducted last month […]
PayPal Enters China Market Through GoPay Acquisition
The People’s Bank of China has approved PayPal acquisition of a 70 percent stake in Guofubao Information Technology Co. (GoPay), Ltd., a holder of a payment business license in China PayPal becomes the first foreign payment platform to be licensed in China to provide online payment services in the country. “We look forward to partnering […]
SnapPay connects North American merchants to AliPay and WeChat Pay
SnapPay is now available for Chinese mobile payment applications Alipay and WeChat Pay. Offering Chinese mobile payments provides small businesses in North America the opportunity to secure substantial incremental revenue and drive customer loyalty. With SnapPay’s payment gateway, retailers and merchants can accept preferred Chinese payment methods with minimal effort and training time. SnapPay provides […]
Alibaba Group will turn 11.11 Gala this year into a global event
Over the last decade Alibaba Group has built the annual 11.11 shopping festival into the largest shopping event of the year. Last year’s gross merchandise volume, which reached $30.8 billion, outstripped the online revenues of US retail’s biggest shopping holiday – from Thanksgiving Day and Black Friday to Cyber Monday – combined. Expanded 11.11 Countdown […]