Advice for choosing a merchant Accounting in China

Advice for choosing a merchant Accounting in China

If you live in China now and you want to create a website and start selling products in other countries, you need to open a merchant account to pay by credit card. Although credit card payments are still not very popular in China, they have become very popular in other countries such as the United States, the United Kingdom, and Germany.

Since you need to open a merchant account, you need to find a good merchant account provider. There are several merchant account providers in the country, now I will compare each of them for you so that you can make a better decision.

The first call Please

Which is a Beijing company. And 5% commission for each transaction. It will take 45 days before the first payment is received by your customers, please transfer the money to your local bank account. If customers charge back, they will ask the merchant to accept the charge directly, which means you can’t complain, it’s not a good thing.

The second is Clopay, a Shenzhen company. Unlike PayEase, Ctopay charges a 6,000RMB setup fee and they do not charge you for a secure payment gateway, but a commission fee of 6% for each transaction and it will take you 45 days to receive the first payment by your customers. If you use a Clopay account, customers will help you complain when they charge back.

The third is called 95 Pa, which is a Guangzhou company

95 Pay account set-up fee is 8000RMB, same as PayEase, and the commission fee is 8%. The period for receiving the first payment is also 455 days.

You can also open a PayPal account and the set-up fee is 0, the commission fee is 4% for each transaction.

All of the above merchant account providers do not support selling replica products. Hope you can find the right supplier and conduct good business in China.

Paying in China

The way you pay as a former PAT in China depends on the type of employer you work for. You can get all your salary in China; All your payments back to your country can credit to your bank account, or you can get a portion of your salary in China while the rest credit back to your account in your country.

Keep in mind that US dollars are not circulating in the Chinese market, so these are not good for you until you leave the country. The Chinese government wants the RMB to be the unit of exchange and they strictly limit the money that leaves the country. They want you to spend your hard-earned money accounting in China, rather than stay away from it.

Technically, the central government restricts employers from paying foreign or domestic foreign cash. But they can disburse foreign currency directly to your Chinese multi-currency account or foreign bank account.

If you work for a Chinese company or university, you will probably get all your salary in China

In some cases, you may be surprised that your salary is a little higher than you expect. This is probably not a mistake – Chinese employers surprise their employees with small bonuses, especially during the holidays. Be grateful and don’t question; In China, you have to accept the fact that there is something you will never understand.

What if you don’t get paid? Some former PATs who work for non-profit Chinese companies or cashless universities will not be able to receive their salaries. If the payday is Friday, you will probably be able to complain to someone in management until next week. For those of us who think that our work should fairly compensate. You need to inform your employers that the missing payday is unacceptable. If they delay it once, assume it will happen again.  Most likely, your relationship will never be very good again.

You can try your luck with the court system. But don’t raise your expectations too much, especially since your boss will probably have more connections than you. If the problem persists, you may want to look for another job, or even return home. Don’t feel bad, because you’ll be with hundreds of other ex-pats who had their high expectations a little higher when they got home early.

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