Over 52% of Chinese consumers will their increase online spending in the next 12 months. The PYMNTS X-Border Optimization Tracker decodes the transitioning Chinese economy
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The X-Border Payments Optimization Tracker™ is an organizing framework for evaluating the many players that provide merchant payment processing services geared for cross-border payments.
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- China’s cross-border online retail trade grew 44 percent to $71.8 billion, including $51.2 billion from exports in 2014 (up 40 percent from the previous year), and companies are rushing to cash in on it.
- Alibaba entered into an exclusive deal with Macy’s for an online flagship store on Tmall.
- Amazon, on the other hand, is inviting Chinese companies to sell through its new initiative “Global Selling.”
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We added five new companies to the tracker: AltaPay, Boku, Braspag, Cardstream and Earthport. Of these providers, Cardstream broke into Top 10 scoring companies across all categories.
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This month we explore the effects China’s transitioning economy has on the spending habits of the consumer. Hint: More good news for merchants across the world.
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