Accepting payments from abroad like India and China

what is the preferred method of payment, and how can we accept it?

[MKinCA]

Hello -
We've developed a very successful niche B2B subscription site/product where most of our customers are from India and China.

Currently, we only have an Authorize.NET account and can accept Visa, MC, Amex, and Discover... however... it seems that most of these foreign companies do not have (or prefer not to use) credit cards.

We get several failed checkout attempts daily and the feedback, though low in volume, has been because of a lack of credit card.

Those familiar in dealing with companies abroad, especially India, Pakistan, and China -

- What type of payments do you accept? What payment processor do you use?
-Is it a special type of internet merchant account - or can we utilize the same one we already have?

Any help is greatly appreciated.

-Mike

[Miop]

There is always bank transfer, but that takes a while - I don't know how long coming from India, but it took around 8 days to get to India from a UK bank.
I have only had one customer from India who paid using Paypal, but I have had to refund it as the 'goods never arrived'. If people send anything physically to India, I suggest using Insured/signed for delivery.

[iProgram]

Maybe you need a local reseller?

We've developed a very successful niche B2B subscription site/product where most of our customers are from India and China.

If this is true, your customers will have credit card, even if they are in China. You can also accept money order (e.g. WestUnion) from China.

[MKinCA]

If this is true, your customers will have credit card, even if they are in China. You can also accept money order (e.g. WestUnion) from China.

I'm not here to argue this fact. And, from our experience, the potential client's we've encountered in China and India don't have (or maybe prefer not to use) Visa/MasterCard.

There must be alternatives - something more popular in these countries... that's what I'm after.

[iProgram]

Hi, MKinCA I am in China and I have two credit cards because this is the only method I can send payment. So if a Chinese person want to pay, the method is not the problem:) If your customers need to pay you on monthly base, I don't think you can find other method to receive payment from China, unless you have a local bank account in China. Debt card is very popular here and we use it to buy products online or pay bills. If you have a local bank account, you can setup a personal merchant account for free and start to receive debt card payment online. All in RMB of cause. That's why I suggest you to find a local reseller.

PS. I have a lot of customers from India, all paid via credit card or PayPal.

[vibgyor79]

Go for an Indian credit card processor. Along with processing of Visa/MC/Amex payments, they also allow you to accept payments through local Indian banks (Indian debit cards).

As a merchant, you will receive payment through wire transfer from the Indian credit card processor.

[RedWolf]

I'm a bit paranoid, so I only accept Asian orders that are paid via eGold which is instantly clearing with no chance of chargeback fraud. snipped It is a bit of a hastle to convert from gold to US$ but it is extreamly safe if you deal in high fraud goods.

[edited by: DaveAtIFG at 2:40 pm (utc) on Sep. 21, 2004]
[edit reason] URL removed [/edit]

[MKinCA]

Go for an Indian credit card processor. Along with processing of Visa/MC/Amex payments, they also allow you to accept payments through local Indian banks (Indian debit cards).
As a merchant, you will receive payment through wire transfer from the Indian credit card processor.

Any recommendations?

[web_india]

>> recommendations

You can Google it and you can find indian processors.

As far as Indian market is concerned, look for the following options - Indian credit cards, debit cards, payment through bank accounts (this is mainly with a few banks who offer netbanking in India) etc.

[web_india]

In addition, if you are looking to accept payments in Indian market, you can also consider setting up a bank account with an Indian bank - provided you expect a good business volume. This would virtually open you to all businesses and you would be able to accept payments from everyone in India.

[MKinCA]

Thanks for the info.

I'm still interested in specific recommendations as some companies are better than others - as is the case in every industry.

Thanks again!

[Freedom]

ikobo

That's my recommendation.

[edited by: DaveAtIFG at 7:49 pm (utc) on Sep. 21, 2004]
[edit reason] URL removed [/edit]