China Is #1 in Global E-Commerce

Sep 17, 2019

Global retail e-commerce is moving forward with double-digit growth. International consumer markets are experiencing rapid growth. In 2017 alone, China accounted for 67.1% of all e-commerce sales around the globe. If you’re interested in more details about global e-commerce and want to obtain a secure and cheap e-commerce merchant account, this article is here to help you.

E-Commerce Growth: E-Commerce Merchant Account
In 1971 or 1972, several students at Stanford who were using Arpanet accounts at Stanford University’s Artificial Intelligence Laboratory completed a commercial transaction with their counterparts at Massachusetts Institute of Technology. This was before Amazon and eBay.

Today, thanks to modern e-commerce platforms, B2B/B2C commerce sales have undergone a real revolution. This channel is becoming more and more convenient for both the vendors and end-users. Thanks to the growing digital awareness, both selling and purchasing via e-commerce platforms are becoming mainstream.

Technology services allowing for creating and managing web storefronts, shopping carts, personalization, transactions, and product visualization are becoming more sophisticated. Thus, developing efficient B2B/B2C online stores is getting less challenging.

Let’s take Facebook. This social media platform has made it so easy to organize brand advertising. Thanks to software-as-a-service or SaaS products, starters in the retail field are able to push their business forward in ways they couldn’t think of in the past.

Today, China represents the largest e-commerce market around the globe and goes on widening its lead to a significant extent. The U.S. market is growing as well as the 2nd largest one. Asia-Pacific represents the most rapidly growing region in the world.

According to the CEO of an integrated electronic payment processing company, in terms of the online shopping experience, consumers are looking for multiple payment options. Thus, retailers can’t do without addressing this demand: they should offer sought-after methods for each market.

What about you? Are you offering the best to your customers? Do you need a reliable and affordable e-commerce merchant account for your online business? This can’t be an issue if you turn to a reputable payment processor like eMerchantBroker.com.

EMB is listed as the #1 high risk credit card processing company in the U.S. and is dedicated to providing merchants with the cheapest payment processing services in the space. What’s more, ValuePenguin has ranked EMB as the “Best All-Around High Risk Merchant Account Provider,” and CardPaymentOptions considers EMB an Excellent payment processing company.

E-Commerce Expanding
E-commerce will further growth due to the rise of cross-border and favorable demographics and technology advancement in the logistics market.

Let’s look at some other facts:

  • In 2017, e-commerce accounted for $2.3 trillion in sales.
  • In 2018, retail e-commerce sales reached 23.3%.
  • Based on the data from 2017, China’s e-commerce market value made up $672 billion, thus representing over 40% of the retail e-commerce revenue worldwide.
  • The U.S. market value was estimated to be $340 billion in 2017.
  • PayPal had 267M active registered accounts by Q4 of 2018.
  • Smartphones were responsible for over 1/3 of online Black Friday sales in 2018.
  • A 2017 March survey showed that 42% of online shoppers considered credit card payments as a go-for option to make payments.
  • Electronic payments come next, with PayPal featuring to be the preferred option.
  • Next, come debit cards, cash on delivery, and bank transfers.
  • Global e-commerce statistics of 2018 showed that Amazon was ranked 2nd (GMV = $239 billion). JD.com, eBay, Shopify, Rakuten, and Walmart came next. Amazon represented 44% of all U.S. e-commerce sales in 2017 and was the most popular shopping app in the country in mid-2018.
  • The expansion of e-commerce is seen across categories and region. Products that were almost always purchased in brick-and-mortar stores now get to their customers over the internet.
  • Online purchases of fresh grocery grew by 5% in the Asia-Pacific region in 2018. Travel purchases in Eastern Europe grew by 4%, video gaming purchases in North America increased by 3%, and personal care purchases in Latin America went higher by 4%.

To sum up, you, as a merchant, should never stay behind the latest e-commerce trends. This is vital both for online business owners and those running an in-store business. It’s no less important to find the right merchant services provider to work with.

Let us help you get a high risk merchant account today!

Get Started

Award winning.

  • 2012
  • 2013
  • 2014
  • 2015
  • 2016

Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

Live Chat